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Technology Sector Challenges

Menzies

Menzies LLP - A leading chartered accountancy firm. INVESTING IN INNOVATION The UK is the fourth most innovative country in the world, according to the latest Global Innovation Index, and the Government’s Industrial Strategy is aiming to increase spending on R&D by 2.4%

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Spring Budget 2024 – Technology Sector Commentary

Menzies

Menzies LLP - A leading chartered accountancy firm. These changes impact institutions who provide a marketplace for crypto transactions, and the rules which are being introduced by 2027 will require institutions to share customer information.

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Carbon Border Adjustment Mechanism (CBAM) – UK implications

Menzies

Menzies LLP - A leading chartered accountancy firm. In December 2023, the government published a factsheet summarising the UK CBAM, confirming that it intends to implement in the UK by January 2027, the design and delivery being subject to a consultation in March 2024, which closed on 13 June 2024. We await the outcome.

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Autumn Budget: Technology Wishlist & Predictions

Menzies

Menzies LLP - A leading chartered accountancy firm. Significant announcements are usually reserved for the autumn budget, however with various tax rates frozen until 2027/28 and tax cuts seemingly off the table, it is not clear if Chancellor Jeremy Hunt will have any big announcements in store for the tech sector this November.

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Is it time to install solar panels on your warehouse rooftop?

Menzies

Menzies LLP - A leading chartered accountancy firm. Depending on the circumstances this may defer the tax relief available into the next accounting period. Grants It’s also worth checking whether any grants are available to fund the purchase of equipment. Grant Finder updates on a regular basis for other grants available.

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Tax implications of installing solar panels on warehouses

Menzies

Menzies LLP - A leading chartered accountancy firm. By 2030, non-domestic minimum expected energy standards (MEES) will require all non-domestic private rented properties to have an EPC level of at least level B, with an EPC level C rating required by 2027, to meet the government’s criteria of achieving net zero by 2050.

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Basis Period Reforms – Do you have sufficient funds?

Menzies

Menzies LLP - A leading chartered accountancy firm. The basis period reform will not affect businesses with accounting year ends to 5 April or 31 March. In the transition year, HMRC are asking for tax ‘up front’ on the profits arising in the period from the accounting year end to the end of the tax year. Current rules.