CPA Practice

JUNE 1, 2023

The coalition includes the following organizations: AICPA Latino Tax Pros National Association of Black Accountants, Inc. NSBCPA) National Society of Tax Professionals (NSTP) Padgett Business Services The Diverse Organization of Firms (DOF) H&R Block Prosperity Now. in Ahmedabad, Gujarat, India.

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Menzies

OCTOBER 31, 2024

Menzies LLP - A leading chartered accountancy firm. Rise in Capital Gains Tax However, the rise in Capital Gains Tax, along with upcoming changes to Business Asset Disposal Relief, has raised concerns among the many owner-managed and family-run businesses within the sector.

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Going Concern

MAY 30, 2023

Ian Gow and former KPMG director Stuart Kells, authors of the 2018 book “The Big Four: The Curious Past and Perilous Future of the Global Accounting Monopoly,” write about Big 4 integrity for The Mandarin : The PwC affair is of course not the first of its kind, even for PwC. In the 1990s and 2000s, Caterpillar Inc.

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Menzies

JANUARY 23, 2025

Menzies LLP - A leading chartered accountancy firm. HMRC launched a new one-to-many campaign on 15 January 2025 specifically targeting delivery drivers who HMRC believe have failed to deliver a tax return disclosing their income. Read on to find out how to address your past and present UK tax obligations.

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CPA Practice

NOVEMBER 12, 2024

BKR International has announced the addition of Abbasi, Shahin & Odeh Chartered Accountants as the newest member in the Middle East region. BKR is a top-10 global accounting association representing the expertise of 140 members with nearly 600 offices in over 75 countries around the world.

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Going Concern

JANUARY 6, 2025

One of the partners thrown under the bus post-tax scandal by PwC Australia has cleared his name : The main disciplinary body for the big four accounting firms has dropped an investigation into a former PwC partner forced out by the firm after being linked to its tax leaks scandal.

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Menzies

NOVEMBER 10, 2024

Menzies LLP - A leading chartered accountancy firm. As the government seeks to finance its ambitious social welfare programs and public sector salaries, care homes may be subjected to higher business taxes and payroll taxes.

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Accounting Insight

SEPTEMBER 15, 2023

Accountants remain the most trusted players in tax according to the ACCA, IFAC and CA ANZ biennial global survey The Public Trust in Tax survey which questioned 7,700 members of the public across the globe shows that accountants have a major role to play in addressing corruption, which negatively impact on attitudes towards tax in economies.

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Going Concern

JULY 22, 2022

Global Rulemakers Say It’s Time to Fix Goodwill Accounting [ Bloomberg Tax ] The International Accounting Standards Board said Thursday that it would decide whether to change the rules covering acquisition accounting at its next meeting. Happy Friday to you too, Tax Twitter. Happy Friday.

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Menzies

JUNE 5, 2024

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. WHAT IS PILLAR 2? Assess whether your Group is within the scope Pillar 2.

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Menzies

APRIL 10, 2023

Menzies LLP - A leading chartered accountancy firm. The tax landscape in relation to property has changed dramatically over recent years with various tax rule changes and anti-avoidance measures. This may include for example complying with the Construction Industry Scheme.

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Going Concern

MAY 3, 2024

That PwC Thing Senate caravan not moving on from PwC [ The Mandarin ] Accounting firm PwC Australia has still a lot of work to do before it can move on from the tax leaks scandal, according to two members of a Senate committee looking into government procurement. Practice The PCPS CPA Firm Top Issues Survey is open!

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Menzies

MAY 24, 2023

Menzies LLP - A leading chartered accountancy firm. Jonathan Bass , Partner, Matthew Watkins , Director, and Stephen Hemmings , Partner at Menzies, discuss recent tax announcements made in the Spring Statement, covering the changes that are underway, in areas such as R&D and tax disputes.

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Menzies

MAY 22, 2024

Menzies LLP - A leading chartered accountancy firm. The Times has recently reported on leaked data which shows approximately 17,000 British citizens owned approximately 22,000 properties in Dubai as of spring 2022, and yet only 1,900 UK tax residents reported let property income from a Dubai property in the 2021/22 tax year.

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Going Concern

MAY 20, 2024

Michael Shaub of Texas A&M University talks about the PCAOB’s new standards in Bloomberg Tax. A whistleblower in Australia says ratting out his former employer worked out great for the tax authorities but him not so much. TL;DR It’s about time!

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Going Concern

FEBRUARY 20, 2024

What’s happening now is CPA Canada slashing 20 percent of their workforce of 400 people due in large part to losing those two provinces and the many, many chartered accountants in them. OK, you’re caught up.

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Menzies

JANUARY 29, 2024

Menzies LLP - A leading chartered accountancy firm. Online tutors are easy to find and there are many websites offering to match students to tutors, but how many tutors consider the potential UK tax reporting obligations arising from their endeavours? What will private tutors want to know?

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Menzies

AUGUST 15, 2024

Menzies LLP - A leading chartered accountancy firm. But it’s not just breeding that might cause a tax problem, as pet sitters will also fall onto HMRC’s radar with the introduction of the online platform reporting rules. Are you prepared if HMRC start to sniff around your tax affairs?

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Menzies

FEBRUARY 6, 2023

Menzies LLP - A leading chartered accountancy firm. HMRC have recently changed their policy on acknowledging Option to Tax notifications. This could be useful if a taxpayer did not recall whether they had opted to tax or not. This could be useful if a taxpayer did not recall whether they had opted to tax or not.

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Menzies

JANUARY 29, 2024

Menzies LLP - A leading chartered accountancy firm. Research and Development (R&D) tax relief is a highly valuable relief to promote and reward attempts by companies to achieve advances in scientific or technological fields or appreciable improvements in associated processes. Tax saving increases by up to £2.80

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Menzies

AUGUST 21, 2024

Menzies LLP - A leading chartered accountancy firm. Further information has now been made available in respect of the abolition of the Furnished Holiday Lettings (FHL) tax regime that will take effect from April 2025. Capital gains tax reliefs – access to reliefs from taxes on chargeable gains.

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Menzies

OCTOBER 27, 2023

Menzies LLP - A leading chartered accountancy firm. If you earn Esports income from activities such as streaming, sponsorship, or tournament winnings, did you know you may need to declare this to HMRC and you may have tax to pay? If you receive any prize money from outside the UK, tax may be withheld on these earnings.

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Menzies

MARCH 25, 2024

Menzies LLP - A leading chartered accountancy firm. If you don’t declare or don’t pay the tax you owe to HMRC, it’s likely you will receive significant penalties and in some cases be criminally prosecuted. What should I do if I am concerned about PDDD or MSD?

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Menzies

JUNE 6, 2023

Menzies LLP - A leading chartered accountancy firm. To dissuade taxpayers from all forms of non-compliance, the UK tax code contains many other types of penalties that apply in alternative scenarios. If the return is still outstanding after 6 months then HMRC can charge a penalty equal to the greater of £300 or 5% x tax due.

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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. There may be significant tax savings where dwellings are acquired together with non-residential properties.

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CPA Practice

JULY 8, 2024

Among other findings of the survey: “Keeping up with changes and complexity of tax laws” is a significant issue for sole practitioners through midsize firms. Sid Kess Award for Excellence in Continuing Education The Sid Kess Award for Excellence in Continuing Education was presented to Tony Nitti, CPA, MST, a National Tax Partner at EY.

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Menzies

NOVEMBER 27, 2023

Menzies LLP - A leading chartered accountancy firm. Understanding the differences between the available allowances is crucial for enhancing tax savings and bolstering cash flow, particularly in the early stages of a tech enterprise, where capital investments may be significant.

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Menzies

MAY 19, 2023

Menzies LLP - A leading chartered accountancy firm. The UK tax system is designed in such way as to provide the taxpayer with important safeguards. To balance HMRC’s power to raise an assessment with protecting the taxpayer, specific time limits are imposed on HMRC to raise an assessment for a loss of tax.

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Menzies

OCTOBER 30, 2024

Menzies LLP - A leading chartered accountancy firm. Schools, their representative bodies and tax advisors are invited to contact HRMC by email at vatonprivateschoolfees@hmrc.gov.uk VAT returns have to be submitted by way of Making Tax Digital compliant software. Is there an HMRC helpline for schools?

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Menzies

MARCH 22, 2023

Menzies LLP - A leading chartered accountancy firm. Depending on the circumstances this may defer the tax relief available into the next accounting period. The tax impact on making use of grants is that the value on which capital allowances are applied is reduced by the value of the grant.

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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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Menzies

DECEMBER 1, 2022

Menzies LLP - A leading chartered accountancy firm. From 1 April 2023, the corporation tax rate will be increasing from 19% to 25% for companies with taxable profits over £250,000. Companies with taxable profits of less than £50,000 will continue to pay tax at 19%. Should you shorten your accounting period?

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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

NOVEMBER 7, 2023

Menzies LLP - A leading chartered accountancy firm. UK tax considerations for content creators and social media influencers Do you consider yourself an influencer? If so, did you know that you may well have UK tax liabilities and do you know what you need to do to be tax compliant? First things first – don’t panic.

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Menzies

JUNE 8, 2023

Menzies LLP - A leading chartered accountancy firm. Government Consultations A technical consultation recently took place in May 2023 to consult on draft regulations which amend how a business claims a Plastic Packaging Tax credit in certain circumstances. Rate From 1 April 2023 the PPT rate has increased to £210.82

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Menzies

MARCH 1, 2023

Menzies LLP - A leading chartered accountancy firm. GAINING R&D KNOWLEDGE CAN BRING REWARDS FOR YOUR PROPERTY BUSINESS Relatively few surveyors claim research and development (R&D) tax relief, despite the fact that many activities meet the scheme’s eligibility criteria. depending on your tax rate from 1 April 2023).

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Menzies

APRIL 17, 2023

Menzies LLP - A leading chartered accountancy firm. It would be extremely rare that a taxpayer would set out hoping that their dispute with HMRC will reach the Tax Tribunal, not least because of the public nature of the hearing. by appealing directly to the Tribunal) would lead to the case being struck out by the Tribunal.

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