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Tax Directors & Finance Teams – Do you need to register for Pillar 2?

Menzies

Menzies LLP - A leading chartered accountancy firm. LATEST UPDATE Groups within the scope of Pillar 2 in the UK will need to register with HMRC within 6 months of the Group’s first accounting period starting on or after 31 December 2023. The post Tax Directors & Finance Teams – Do you need to register for Pillar 2?

Finance 59
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A Brighter Thinking Approach to Wealth Planning

Menzies

Menzies LLP - A leading chartered accountancy firm. Lately we have adopted a fresh approach to personal wealth planning by combining the knowledge of both our in-house Private Client Tax Managers and Financial Planners. This is because many financial decisions can result in tax implications and vice versa.

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Are you impacted by Pillar 2 and what should you do?

Menzies

Menzies LLP - A leading chartered accountancy firm. REPORTING TAX PAYMENTS IMPACT Even for groups without an additional top-up tax liability, there will be a requirement to submit a Pillar 2 Return to HMRC (if they are the reporting entity) or notify the entity and jurisdiction responsible for filing the return.

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Super-Deduction Replaced by Full-Expensing

Menzies

Menzies LLP - A leading chartered accountancy firm. This relief is temporary and will end on 31 March 2026 but for companies that take advantage of it will enable up to £250 of each £1,000 of capital spend to be recovered against their tax bill and so potentially significant tax savings are available.

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Rental Income

Menzies

Menzies LLP - A leading chartered accountancy firm. One of the main aspects you need to think about when becoming a landlord is the tax position and ensuring that you meet the tax reporting requirements.

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How to set up as a self-employed barrister

Menzies

Menzies LLP - A leading chartered accountancy firm. Most income tax, NIC and student loan payments will be due on 31 July and/or 31 January, and we would expect your VAT to be due one month and 7 days after the end of each quarter. Set up a separate business bank account. Set aside money to make the tax payment.

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Business Tax: Property matters

Menzies

Menzies LLP - A leading chartered accountancy firm. Businesses operating within the property and construction sector may have specific needs and requirements that are not commonly found in other sectors. This may include for example complying with the Construction Industry Scheme.