Menzies

OCTOBER 4, 2022

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.

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Menzies

NOVEMBER 22, 2022

Menzies LLP - A leading chartered accountancy firm. The rates for 2022/23, and then 2023/24 to 2027/28 are set out below: * Primary NIC threshold is £184 per week for 2021/22 and £190 per week for 2022/23. National Insurance Contributions (NICs) have been the subject of every budget announcement this year. Introduction.

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Menzies

JUNE 16, 2023

Menzies LLP - A leading chartered accountancy firm. This was the theme for the latest Brighter Thinking Roundtable , jointly hosted by Menzies Creditor Services team and the Chartered Institute of Credit Management (CICM) in London.

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Menzies

MARCH 26, 2025

Menzies LLP - A leading chartered accountancy firm. Inflation / Growth The OBR predicts inflation is expected to stabilise at 2% per annum from 2027 onwards which is good news for the sector. in 2027, 1.7% Overview As we expected, todays Spring Statement brought few surprises Hospitality & Leisure sector.

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Menzies

JULY 15, 2024

Menzies LLP - A leading chartered accountancy firm. The new law enforced by the EU Council will ultimately raise the concern for businesses accountability towards environmental and societal impact throughout their every-day operations within the EU. What is the purpose for the Sustainability Due Diligence Directive (CSDDD)?

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Menzies

OCTOBER 9, 2024

Menzies LLP - A leading chartered accountancy firm. The threshold drops to £30,000 from 6 th April 2027. The ‘Making Tax Digital’ (MTD) requirements mark a big change for how taxes are reported and managed. For landlords, this transition brings both challenges and opportunities.

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Menzies

OCTOBER 9, 2024

Menzies LLP - A leading chartered accountancy firm. The threshold drops to £30,000 from 6 th April 2027. The ‘Making Tax Digital’ (MTD) requirements mark a big change for how taxes are reported and managed. For landlords, this transition brings both challenges and opportunities.

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Menzies

APRIL 14, 2025

Menzies LLP - A leading chartered accountancy firm. Amongst the key reforms of abolishing the non-dom regime and changes to Agricultural Property Relief and Business Property Relief, was the significant announcement that from 6 April 2027, undrawn pension funds will now be subject to inheritance tax. 67% effective tax rate?

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Menzies

NOVEMBER 25, 2024

Menzies LLP - A leading chartered accountancy firm. Pensions may have been hit, with pension pots becoming liable to IHT from April 2027. For some years, retaining a pension pot until death was an efficient way to pass down wealth to the next generation.

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Menzies

DECEMBER 19, 2024

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 governments criteria of achieving net zero by 2050.

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Menzies

MARCH 27, 2025

Menzies LLP - A leading chartered accountancy firm. of GDP on defence by 2027 and a 2.2bn funding boost for the Ministry of Defence. Growth forecast cut dampens outlook The halving of the OBRs 2025 growth forecast from 2% to 1% is unwelcome news for manufacturers, signalling a sluggish economic environment ahead.

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