Menzies

DECEMBER 8, 2023

Menzies LLP - A leading chartered accountancy firm. November’s Autumn Statement earmarked £4.5bn for key manufacturing sectors, and some beneficial changes to tax reliefs and full expensing. What does the food and drink manufacturing sector need from Government policy in 2024?

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Menzies

SEPTEMBER 2, 2022

Menzies LLP - A leading chartered accountancy firm. The government has extended the availability of 100% first year allowances on the acquisition of cars, zero-emissions goods vehicles and equipment. For more information on how you can make the most of tax relief on energy efficient vehicles, contact Donna Kenyon.

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Menzies

SEPTEMBER 20, 2024

Menzies LLP - A leading chartered accountancy firm. With a recent change in Government promising to fill the tax gap, the Prime Minister has warned the budget will be “painful”. Capital Gains Tax It is widely expected that we will see an increase to capital gains tax rates, particularly on residential property.

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Menzies

NOVEMBER 27, 2023

Menzies LLP - A leading chartered accountancy firm. The guidelines governing capital allowances underwent a revision this April, following the termination of the super-deduction scheme. This is crucial for maximising your tax savings, contingent upon each company’s unique circumstances.

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Going Concern

FEBRUARY 9, 2024

Big 4 Big Four Lobby Congress on Accounting Pipeline, AI, Crypto [ Bloomberg Tax ] PwC spent the most at $3.27 The Big Four firms targeted a portion of their millions in Capitol Hill spending last year on a pivotal problem facing the industry: shoring up a dwindling supply of qualified accountants. Tax Betting on the Super Bowl?

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Going Concern

APRIL 7, 2023

The alliance is part of PwC UK’s technology-driven strategic plan to reframe the way traditional tax, legal and people services are delivered. Castillo also took money to pay their taxes, but instead pocketed the money, Sellinger said. If Your Job Exposed to ChatGPT? Castillo faces up to 20 years in prison and a $250,000 fine.

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Menzies

JANUARY 15, 2025

Menzies LLP - A leading chartered accountancy firm. New Tax Rules for Larger Farms The changes introduced mean that agricultural relief allowing land or pasture to be used to grow crops, or to rear animals, will be scrapped for farms worth more than 1m.

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PANALITIX

AUGUST 23, 2020

We covered a lot of ground in a recent interview with Panalitix client Michael Burke of Burke Raftery Chartered Accountants. Michael continued to build experience in governance, transactions, and reporting systems when he joined a family business and then private equity group as CFO. They would probably hire a tax accountant.

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Menzies

JUNE 8, 2023

Menzies LLP - A leading chartered accountancy firm. When the UK Government introduced PPT in April 2022, the aim was to encourage the use of recycled plastic within packaging. The UK government has also said it will consult later this year on reforming the PPT to encourage investment in chemical recycling.

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Menzies

SEPTEMBER 19, 2024

Menzies LLP - A leading chartered accountancy firm. As the Autumn Budget nears, Menzies’ Manufacturing sector team have compiled a Wishlist for the sector, covering key areas such as a government tax roadmap, full expensing, innovation, and education investment for the sector.

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Menzies

JANUARY 7, 2024

Menzies LLP - A leading chartered accountancy firm. If you find in this time of uncertainty that you are unable to pay your self assessment income tax liability, there is help at hand. How you contact HMRC will depend on how much tax you have to pay (see below). You will then be brought to the page shown (left).

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Menzies

MAY 17, 2022

Menzies LLP - A leading chartered accountancy firm. Historical tax incentives also made the market a lucrative option but the tax rules have changed and not for the better. Historical tax incentives also made the market a lucrative option but the tax rules have changed and not for the better.

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Menzies

SEPTEMBER 23, 2024

Menzies LLP - A leading chartered accountancy firm. The Labour Government has already warned that its first fiscal budget will be painful. With an estimated £22 billion black hole to fill its likely that taxes will increase, and public spending will be cut. new homes target in this Parliament.

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Menzies

JANUARY 20, 2023

Menzies LLP - A leading chartered accountancy firm. We’re devised this ‘Finance Directors’ tax toolkit’ to highlight the ways in which Menzies often help large and multinational companies including business tax, employment solutions and innovation incentives (e.g.

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Menzies

JANUARY 25, 2023

Menzies LLP - A leading chartered accountancy firm. G20 and 136 OECD Members have agreed to reform global tax by establishing a 15% global minimum tax rate. The effective tax rate is calculated by a series of calculations for each of the relevant entities and permanent establishments.

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PANALITIX

JUNE 21, 2020

Building a successful accounting and advisory business doesn’t happen overnight. Mike Mekhitarian, founder of ATB Chartered Accountants and Business Mentors (ATB), shared some highlights of his action-packed journey in an interview with Panalitix founder Colin Dunn. Some Final Thoughts… and Advice for Accountants.

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Menzies

AUGUST 8, 2023

Menzies LLP - A leading chartered accountancy firm. HMRC have introduced new rules for the submission of R&D tax relief claims. 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.

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Menzies

NOVEMBER 2, 2022

Menzies LLP - A leading chartered accountancy firm. Research and Development (R&D) tax relief is intended to promote and reward scientific and technological innovation in the UK. A Welcome Update To The R&D Tax Relief Scheme. What changes are being made to R&D Tax Relief? Introduction Of A PAYE/NIC Cap.

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Menzies

MARCH 6, 2024

Menzies LLP - A leading chartered accountancy firm. As a sector that traditionally struggles with labour shortages, it remains to be seen whether the additional 2% NIC cut and changes around child benefit will have the positive effect that the government hopes for.

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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

JULY 26, 2022

Menzies LLP - A leading chartered accountancy firm. Thinking of going freelance when you graduate, or started your own side business already, but don’t know what to do about tax? You may also need to pay additional ‘payments on account’ due by 31 st January and 31 st July annually. Making Tax Digital (MTD).

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Menzies

MARCH 6, 2024

Menzies LLP - A leading chartered accountancy firm. The FHL regime has been around for years and provides individuals and companies who hire out furnished properties as holiday lets with various tax advantages. In recent years the number of landlords providing furnished holiday homes has increased significantly.

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Menzies

FEBRUARY 12, 2024

Menzies LLP - A leading chartered accountancy firm. Tax rates With income tax thresholds still frozen there have been rumours of a 2% cut to the income tax rate, however the Chancellor has downplayed these rumours so we are not expecting to see any dramatic changes to income tax this time around.

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Menzies

JULY 29, 2023

Menzies LLP - A leading chartered accountancy firm. The Senior Accounting Officer (SAO) is a regime where large companies / groups are required to appoint an individual to act as their SAO and the SAO must certify each year whether there are “appropriate tax accounting arrangements” in place. What is the SAO?

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Menzies

NOVEMBER 9, 2023

Menzies LLP - A leading chartered accountancy firm. Tax Major tax changes are unlikely. Buy to let After changes to the buy to let interest relief were bought in many landlords have chosen to start limited company so they are paying close attention to the rate of corporation tax.

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Menzies

AUGUST 17, 2023

Menzies LLP - A leading chartered accountancy firm. UK residents disposing of residential property where a chargeable gain arises need to report and pay any Capital Gains Tax (CGT) due within 60 days of completion of the sale. You may need to seek guidance from your accountant or tax advisor on which expenses can be deducted.

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Menzies

OCTOBER 30, 2024

Menzies LLP - A leading chartered accountancy firm. Tax reliefs for the UK’s world-leading creative industries, which will provide £15 billion of support over the next 5 years. The government is also increasing the minimum wages for Under 18s and Apprentices to £7.55 with the intention of driving economic growth.

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Menzies

NOVEMBER 9, 2023

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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Going Concern

DECEMBER 1, 2023

Deloitte Asks Some China Staff to Take Unpaid Leave [ Bloomberg Tax ] Deloitte has asked some China staff to take unpaid leave between December and February, Hong Kong media HK01 reports, citing unidentified people. Chartered* accountancy? Chartered Accountancy. There’s no accountant shortage here.

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Menzies

MAY 15, 2024

Menzies LLP - A leading chartered accountancy firm. As the digital marketplace continues to expand, so does the focus of tax authorities on income generated from online trading. Impact on sellers For those already adhering to tax obligations, the impact may be minimal. Are you selling on Vinted, Airbnb or eBay?

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Menzies

AUGUST 4, 2024

Menzies LLP - A leading chartered accountancy firm. For companies that pay the full rate of corporation tax, this reduces the cost of plant and machinery by 25% in the year in which it is purchased. Following the change in Government however it is unclear whether this legislation will be implemented.

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Menzies

MARCH 6, 2023

Menzies LLP - A leading chartered accountancy firm. Richard Turner – Senior Manager In July 2011 the government introduced a relief designed to encourage private investors into the residential property market. How does stamp duty land tax relief work? This provides an SDLT liability of  £34,500.

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Going Concern

OCTOBER 17, 2022

It appears all of this (alleged) behavior stems from the accountant not wanting to lose her clients and lashing out at them when they tried to call things quits. ” The client was a bakery that ran into problems when they tried to switch to a different accountant.

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Menzies

NOVEMBER 30, 2023

Menzies LLP - A leading chartered accountancy firm. If you are in the manufacturing sector, there is no escaping ESG (Environmental, Social and Governance). By taking advantage of government tax incentives for qualifying projects, companies can improve cashflow and increase competitiveness at the same time.

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Menzies

APRIL 18, 2024

Menzies LLP - A leading chartered accountancy firm. The rules exist to ensure that in circumstances where a worker or contractor meets the definition of an employee, that worker pays broadly the same income tax and National Insurance contributions to that of a PAYE employee. What is IR35?

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Menzies

NOVEMBER 24, 2023

Menzies LLP - A leading chartered accountancy firm. Apprenticeship growth sector pilot: The government is committing £50 million to deliver a two-year apprenticeships pilot to explore ways to stimulate training in growth sectors including manufacturing, and to address barriers to entry in high-value standards.

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Menzies

AUGUST 21, 2024

Menzies LLP - A leading chartered accountancy firm. Government introduced a range of measures Brexit, the UK’s withdrawal from the European Union, has raised some concerns for manufacturers looking to set up business in the country.

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