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New R&D disclosure facility

Menzies

Menzies LLP - A leading chartered accountancy firm. With the estimated tax fraud in R&D at £1.05 billion for 2022 to 2023, HMRC have been tasked with reducing the level of error and fraud significantly. Why is there a need for a new disclosure facility?

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Major changes to R&D Rules from April 2023

Menzies

Menzies LLP - A leading chartered accountancy firm. The release of the Draft Finance Bill legislation on 20 th July confirmed that the R&D rules are set to see major changes for periods starting from 1 April 2023 , affecting both the RDEC and SME R&D regimes. Subcontractor/Externally Provided Workers. Additional Changes.

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Friday Footnotes: Working Late; The Year of the ESOP?; It’s Not Layoffs, It’s “Repositioning” | 1.5.24

Going Concern

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. And take our 2024 Predictions for the Accounting Profession survey ! Comments are closed on Friday Footnotes and the Monday Morning Accounting News Brief by default.

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

Menzies

Menzies LLP - A leading chartered accountancy firm. HMRC have introduced new rules for the submission of R&D tax relief claims. From 8 August 2023. What are the changes to making R&D tax relief claims? What is happening? When is this happening?

Tax 52
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Private Tutors and UK tax

Menzies

Menzies LLP - A leading chartered accountancy firm. Any tutor earning more than £1,000 in a tax year from tutoring is likely going to need to disclose this annually to HMRC on a tax return. The tax calculations can potentially go back up to 20 years depending on the circumstances.

Tax 59
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CAPITAL GAINS TAX ON RESIDENTIAL PROPERTY: 30 DAY REPORTING

Menzies

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.

Tax 52
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Cryptoasset Reporting 2024: What do cryptoasset investors need to know?

Menzies

Menzies LLP - A leading chartered accountancy firm. April 2024 will see tax changes affecting cryptoasset reporting to HMRC come into effect. The changes will specifically focus on creating a dedicated section within HRMC’s self-assessment tax return form for cryptoasset capital gains tax (CGT).