Account, chartered accountant, corporation tax and Maine

Autumn Budget 2024 Commentary: Manufacturing

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!”

Manufacturing

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Not for Profit Structures

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. They do not have any special tax reliefs and will pay tax on their profits like “normal” limited companies. The CASC will also get Business Rates Relief.

Non-Profits

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Autumn Budget 2024: Hospitality & Leisure Predictions & Wish List

Menzies

SEPTEMBER 19, 2024

Menzies LLP - A leading chartered accountancy firm. The Hospitality & Leisure industry accounts for around 10% of the UK’s overall energy consumption and creates carbon emissions of around 8 million tonnes per year.

Hospitality

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Timing is Everything: Elevate Your Retail Business with Smart Year-End Planning Strategies for Optimal Profits

Menzies

JANUARY 18, 2024

Menzies LLP - A leading chartered accountancy firm. When it comes to accounting year ends, most UK companies tend to fall into one of three categories. They choose a 31 March year end as it broadly ties up with the UK tax year. When do I need to pay my corporation tax?

Retail

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New rules for the submission of R&D tax relief claims

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.

Tax

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Navigating the New Year Slump: Mastering the Art of Cashflow for Hospitality Businesses

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.

Hospitality

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Profit extraction for corporate owner managers

Menzies

AUGUST 1, 2023

Menzies LLP - A leading chartered accountancy firm. A fundamental question for most corporate owner managers is how to most efficiently extract profits from their company, especially in light of the frequently changing rules and tax rates / thresholds.

corporation tax

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Tax Considerations For Office Refurbishments

Menzies

OCTOBER 21, 2022

Menzies LLP - A leading chartered accountancy firm. But they might be unaware that most of the cost of the refurbishment may be eligible for tax relief under the capital allowances regime. What’s in the Main pool? Claims made after this will have a greatly decreased return.

Tax

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Super-Deduction Replaced by Full-Expensing

Menzies

AUGUST 21, 2023

Menzies LLP - A leading chartered accountancy firm. This relief is temporary and will end on 31 March 2026 but for companies that take advantage of it will enable up to £250 of each £1,000 of capital spend to be recovered against their tax bill and so potentially significant tax savings are available.

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Equity incentives in the technology sector

Menzies

MARCH 15, 2024

Menzies LLP - A leading chartered accountancy firm. It directly aligns the objectives of the main shareholders with the employees, to grow the value of the business. The popularity of this scheme reflects its tax efficiency and the flexibility in how it can be structured.

Technology

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Research & Development Tax Relief for Surveyors

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. The main reason is a lack of awareness.

Tax

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Voluntary disclosures and the Digital Disclosure Service (DDS)

Menzies

FEBRUARY 27, 2023

Menzies LLP - A leading chartered accountancy firm. COP9 is relevant where HMRC either suspect, or the individual chooses to voluntarily disclose, that their deliberate action or inaction has led to an insufficient amount of tax being paid. How does the digital disclosure service work?

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Super-Deduction Substituted by Full Expensing

Menzies

OCTOBER 6, 2023

Menzies LLP - A leading chartered accountancy firm. This new allowance enables companies to claim a 100% deduction for tax purposes in the year of spend on particular capital investments. For example, consider a company that has a corporation tax liability of £1 million for the 12-month period ending on 31 March 2024.

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Time limits for tax assessments

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.

Tax

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Should micro landlords consider incorporating?

Menzies

AUGUST 17, 2022

Menzies LLP - A leading chartered accountancy firm. Tax restrictions. The move to this business structure was mainly due to changes to tax that restricted the total tax relief that individual landlords could claim on the financing costs of their residential properties. Is now the best time to incorporate?

Real Estate

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Why now is the time to consider your IHT exposure

Menzies

MARCH 6, 2023

Menzies LLP - A leading chartered accountancy firm. The use of trusts The main issue with gifting assets is that control over the assets is fully removed from the donor, and the donee is free to do as they please with the assets. Note that these are the top rates of tax for an individual.

Tax

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Understanding Tax Savings for UK Tech Firms

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.

Technology

Technology Tax Maine chartered accountant

H&L Sector: Election 2024 Commentary

Menzies

JUNE 26, 2024

Menzies LLP - A leading chartered accountancy firm. With the UK General Election taking place in just a matter of weeks on 4 July 2024 and the leading parties having released their manifestos, we have summarised below some of the main policy promises that would impact the Hospitality & Leisure sector.

Hospitality

Hospitality corporation tax Maine chartered accountant

H&L Sector: Election 2024 Commentary

Menzies

JUNE 26, 2024

Menzies LLP - A leading chartered accountancy firm. With the UK General Election taking place in just a matter of weeks on 4 July 2024 and the leading parties having released their manifestos, we have summarised below some of the main policy promises that would impact the Hospitality & Leisure sector.

Hospitality

Hospitality corporation tax Maine chartered accountant

Accountant Advocate

Autumn Budget 2024 Commentary: Manufacturing

Not for Profit Structures

Webinars

Trending Sources

Autumn Budget 2024: Hospitality & Leisure Predictions & Wish List

Webinars

Timing is Everything: Elevate Your Retail Business with Smart Year-End Planning Strategies for Optimal Profits

New rules for the submission of R&D tax relief claims

Navigating the New Year Slump: Mastering the Art of Cashflow for Hospitality Businesses

Profit extraction for corporate owner managers

Tax Considerations For Office Refurbishments

Super-Deduction Replaced by Full-Expensing

Equity incentives in the technology sector

Research & Development Tax Relief for Surveyors

Voluntary disclosures and the Digital Disclosure Service (DDS)

Super-Deduction Substituted by Full Expensing

Time limits for tax assessments

Should micro landlords consider incorporating?

Why now is the time to consider your IHT exposure

Understanding Tax Savings for UK Tech Firms

H&L Sector: Election 2024 Commentary

H&L Sector: Election 2024 Commentary

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