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Technology Sector Challenges

Menzies

Menzies LLP - A leading chartered accountancy firm. INVESTING IN INNOVATION The UK is the fourth most innovative country in the world, according to the latest Global Innovation Index, and the Government’s Industrial Strategy is aiming to increase spending on R&D by 2.4%

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Spring Budget 2024 – Technology Sector Commentary

Menzies

Menzies LLP - A leading chartered accountancy firm. These changes impact institutions who provide a marketplace for crypto transactions, and the rules which are being introduced by 2027 will require institutions to share customer information.

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Autumn Budget: Technology Wishlist & Predictions

Menzies

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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Is it time to install solar panels on your warehouse rooftop?

Menzies

Menzies LLP - A leading chartered accountancy firm. There are government incentives for the installation of solar panels which are eligible for special rate pool allowances, subject to the £1m annual investment allowance (AIA).

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Tax implications of installing solar panels on warehouses

Menzies

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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Increase in National Insurance Contributions on the Way

Menzies

Menzies LLP - A leading chartered accountancy firm. The rates for 2022/23, and then 2023/24 to 2027/28 are set out below: * Primary NIC threshold is £184 per week for 2021/22 and £190 per week for 2022/23. National Insurance Contributions (NICs) have been the subject of every budget announcement this year. Introduction.

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Basis Period Reforms – Do you have sufficient funds?

Menzies

Menzies LLP - A leading chartered accountancy firm. The basis period reform will not affect businesses with accounting year ends to 5 April or 31 March. 2024/25 2025/26 2026/27 2027/28 2028/29 Spread profits 3,000 3,000 3,000 3,000 3,000 Alternative election 3,000 9,000 1,000 1,000 1,000 Business ceases 3,000 3,000 9,000.