Going Concern

JANUARY 2, 2023

This year’s falloff comes during a pivotal year for the board, which over the past year had been doing outreach broadly via an agenda consultation process to set its five-year agenda for 2022 to 2026. What’s more, Mr. Jones does not appear to be fan of the minimum corporate tax. The six ASUs are: ASU No.

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Withum

OCTOBER 18, 2023

The QBI deduction was adopted primarily to keep pass-through business owners on a level playing field with large corporations that are enjoying a permanent flat 21% federal tax rate. However, unlike the reduced corporate tax rate, the QBI deduction is only temporary and no longer available after December 31, 2025.

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Inform Accounting

MARCH 15, 2023

What was hoped was that the chancellor was going to stop the planned corporation tax rise from 19% to 25% for businesses earning between £50k and £250k in profits. Sadly, this tax rise and all its complications still take effect. These will prove very punitive if you run multiple businesses.

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Accounting Insight

MARCH 3, 2023

The 15% global, minimum tax and new, global requirements related to ESG reporting will have a seismic impact on how companies calculate their taxes, and where offices of finance focus their time. The EU will require green energy and carbon footprint financial reporting in 2023, and the US will require it by 2026.

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Inform Accounting

NOVEMBER 18, 2022

The leaked and previously announced tax increases are still going ahead…. Corporation tax from April 1 2023 to increase to 25% for companies with profits over £250,000. Companies with profits under £50,000 will be taxed at 19%. Companies with profits between £50,000 and £250,000 will be taxed between 19% and 25%.

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ThomsonReuters

MARCH 9, 2023

Congress passed the Inflation Reduction Act of 2022 which extends, through 2024, the credit for electricity produced from certain renewable resources; the energy credit; and other energy-related credits (with various extension dates) The Act also introduces two new corporate taxes and various new clean energy-related tax credits.

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Xero

DECEMBER 20, 2022

HMRC has announced that Making Tax Digital (MTD) for Income Tax Self Assessment (ITSA) has been delayed until April 2026. Apr 2026: MTD for ITSA – businesses, self-employed individuals, and landlords with income over £50,000. The new MTD for ITSA timeline. MTD for ITSA for general partnerships.

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ThomsonReuters

DECEMBER 11, 2023

The purpose of this series is to help readers gain a better understanding of e-invoicing and CTC, and their impact on corporate tax teams. Our guest expert, Nazar Paradivskyy, VP of Regulatory Affairs at Pagero , will help explain what companies need to know to transition smoothly into this new era of digital invoicing.

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