Menzies

JANUARY 29, 2024

Menzies LLP - A leading chartered accountancy firm. Cashflow is critical The main purpose of a business is generally the pursuit of profit, with business owners focusing on levels of turnover and profit and how these can be maximised. As sales dip after the festive season, maintaining cash flow becomes crucial.

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Menzies

APRIL 28, 2022

Menzies LLP - A leading chartered accountancy firm. The UT concluded that these tests had been established too narrowly and that more weight should have been applied to the main function of the asset rather than just its appearance.

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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

OCTOBER 27, 2023

Menzies LLP - A leading chartered accountancy firm. Stamp Duty Land Tax (SDLT) can be a significant expense for property investors and developers in England and Northern Ireland. In this article we outline the top 5 SDLT reliefs that you need to be familiar with. hectares.

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Menzies

OCTOBER 31, 2024

Menzies LLP - A leading chartered accountancy firm. From 6 April 2025, the Business Asset Disposal Relief tax rate will increase to 14%, and from April 2026, it will align with the main lower rate of 18%. The recent Budget has painted a mixed picture for the Transport and Logistics sector.

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Menzies

MARCH 6, 2023

Menzies LLP - A leading chartered accountancy firm. This was the case even if it was going to be the buyer’s only property or if it was replacing the buyer’s only or main residence. This was the case even if it was going to be the buyer’s only property or if it was replacing the buyer’s only or main residence.

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Menzies

OCTOBER 21, 2022

Menzies LLP - A leading chartered accountancy firm. What’s in the Main pool? Main pool capital allowances offer tax relief for items that are moveable or classed as ‘plant and machinery’ including furniture, computers, and televisions. Claims made after this will have a greatly decreased return.

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Menzies

JULY 26, 2023

Menzies LLP - A leading chartered accountancy firm. If you use Xero for your bookkeeping and accounts, you may have noticed at the top of the report pages a note stating that “It’s time to change to the new version of this report”. you won’t be able to access this for your July reporting onwards.

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Menzies

DECEMBER 7, 2022

Menzies LLP - A leading chartered accountancy firm. This article is a brief explainer of Loan-based crowdfunding firms and when they are covered by CASS 7. notes that Loan-based crowdfunding firms that operate an electronic system in relation to P2P agreements are required to apply CASS 7. Essentially, CASS 7.10.7A

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Menzies

SEPTEMBER 19, 2024

Menzies LLP - A leading chartered accountancy firm. With the new Labour Government’s first budget approaching on 30 th October 2024, our Hospitality & Leisure team are looking ahead to what Keir Starmer could do to alleviate the ongoing challenges faced by the sector.

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Menzies

OCTOBER 30, 2024

Menzies LLP - A leading chartered accountancy firm. The main areas of focus are on helping to identify so-called ‘tax ghosts’ i.e. those who are not known to HMRC and in efforts to tackle offshore non-compliance. This is expected to cost £1.4 billion over 5 years and raise £2.7 billion by 2029/30.

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Menzies

DECEMBER 6, 2023

Menzies LLP - A leading chartered accountancy firm. This means that these entities can provide less information in their financial statements, while still complying with accounting standards. The main benefit of applying FRS 101 is the reduction in the time taken to prepare the qualifying subsidiary company accounts.

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Menzies

SEPTEMBER 6, 2024

Menzies LLP - A leading chartered accountancy firm.

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Menzies

OCTOBER 30, 2024

Menzies LLP - A leading chartered accountancy firm. Main Initiatives Manufacturers operating in the following areas of specialism could stand to gain from specific initiatives: Committing £975 million in R&D funding for the aerospace sector over five years. A key theme of today’s budget was “Invest, Invest, Invest!”

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Menzies

FEBRUARY 11, 2023

Menzies LLP - A leading chartered accountancy firm. Caroline Milton – Manufacturing Specialist As a packaging expert with knowledge, technical expertise and production flexibility, PT Plastics contacted Menzies to support them with their growth into the UK Market.

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Menzies

NOVEMBER 27, 2023

Menzies LLP - A leading chartered accountancy firm. Under the full expensing scheme, businesses are eligible to receive an immediate tax deduction of 50% or 100% for special rate and main rate purchases respectively, for new qualifying expenses during the year of purchase.

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Menzies

AUGUST 8, 2023

Menzies LLP - A leading chartered accountancy firm. This is with reference to the date the claim is filed, not the accounting period date, so any claims filed from 8 August 2023 onwards will need to comply with these new rules. What is happening? When is this happening? From 8 August 2023.

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Menzies

MAY 11, 2023

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

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Menzies

MARCH 22, 2024

Menzies LLP - A leading chartered accountancy firm. This new law which is expected to come into force in September 2024 gives workers the right to request more predictable hours, not a right to have them changed. It would not however apply to someone working on a fixed ongoing shift pattern as this is predictable.

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Menzies

MAY 19, 2023

Menzies LLP - A leading chartered accountancy firm. Take advantage of long-term and short-term planning techniques One of the main ways that business owners can construct a more durable business structure and enhance its agility is by taking advantage of both long-term and short-term planning techniques.

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Menzies

FEBRUARY 22, 2023

Menzies LLP - A leading chartered accountancy firm. The main “Clarifying amendments” are:- Firstly to ensure that comparative information is provided for virtually all the figures and notes in the financial statements, unless there is a specific exclusion (there are very few exclusions apart from movements in fixed assets).

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Menzies

MAY 11, 2023

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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Menzies

APRIL 5, 2023

Menzies LLP - A leading chartered accountancy firm. As we settle into the first quarter of 2023 businesses are feeling the pressure, and some owner managers may have to face a cashflow crisis.

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Menzies

MARCH 22, 2023

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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Menzies

JULY 29, 2024

Menzies LLP - A leading chartered accountancy firm. To help, we have prepared a summary of the various vehicles that can be used, and their main features. This makes it difficult to know which is the most appropriate structure to use. This makes it difficult to know which is the most appropriate structure to use.

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Menzies

NOVEMBER 24, 2023

Menzies LLP - A leading chartered accountancy firm. Here’s our summary of the main points: What does this mean for the Construction sector ? The autumn statement has been a mixed bag for the property and construction sector.

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Menzies

AUGUST 21, 2023

Menzies LLP - A leading chartered accountancy firm. With the main rate of corporation tax now at 25%, companies will need to ensure they are maximising tax reliefs available to reduce the impact of this increase in rate. Who Will be Eligible to Claim the Allowance?

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Menzies

FEBRUARY 27, 2023

Menzies LLP - A leading chartered accountancy firm. The main benefit of COP9 for taxpayers is that provided a full disclosure is made, HMRC will guarantee the individual receives immunity from criminal prosecution. How does the digital disclosure service work?

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Menzies

JANUARY 18, 2024

Menzies LLP - A leading chartered accountancy firm. In this article, we unlock some secrets to strategic financial planning for your retail business. We explain why choosing the right year end is more than a calendar decision; it’s a strategic move that can significantly impact your bottom line.

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Menzies

JANUARY 12, 2024

Menzies LLP - A leading chartered accountancy firm. Applying this in practice One of the main reasons we do not have a statutory test for defining what constitutes a trade is because of the infinite permeations and factors which may be present (or not) when a taxpayer sells an item or service.

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Menzies

AUGUST 17, 2023

Menzies LLP - A leading chartered accountancy firm. Principal private residence relief Generally speaking, where a property is your main residence throughout the whole period of ownership any gain made will be exempt due to principal private residence relief.

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Menzies

MARCH 7, 2024

Menzies LLP - A leading chartered accountancy firm. There are three main areas that impact on the level of sales achieved by retailers: Their products Their people and The method in which sales are made.

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Menzies

JANUARY 5, 2024

Menzies LLP - A leading chartered accountancy firm.

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Menzies

JUNE 29, 2023

Menzies LLP - A leading chartered accountancy firm. The main difference is that NICs is not chargeable on miscellaneous income. Investing in cryptoassets is becoming more commonplace, but only 42% of crypto owners were aware there might be tax to pay when using crypto in a survey commissioned by HMRC in 2022.

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Menzies

FEBRUARY 13, 2023

Menzies LLP - A leading chartered accountancy firm. Blog How will the new accounting standards impact construction companies? Failure to apply IFRS 15 properly could lead to a material misstatement of revenue and profit in a business’ financial statements.

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Menzies

AUGUST 1, 2022

Menzies LLP - A leading chartered accountancy firm. Below are some of the main obstacles that you may have to face during the initial stages of your e-commerce journey, as well as some guidance and tools that may help you tackle them. What are the challenges and how can you overcome them? Finding the right product.

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Menzies

MAY 30, 2022

Menzies LLP - A leading chartered accountancy firm. The UK’s energy market has been plunged into chaos following soaring energy prices which has caused several energy companies to collapse, with fears that there are more to come. There are several causes of the failing energy market in the UK.

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