Menzies

FEBRUARY 19, 2025

Menzies LLP - A leading chartered accountancy firm. Previously all management of packaging waste recycling notes (PRNs) and packaging waste export recycling notes (PERNs) for 2024 recycling obligations, up to and including the 31 January 2025, were done on the National Packaging Waste Database (NPWD).

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Menzies

JANUARY 7, 2025

Menzies LLP - A leading chartered accountancy firm. At the budget on 30 October 2024, it was confirmed that this regime will be maintained permanently. With the cost of living going up and businesses feeling the pinch, it is more important than ever for tax relief to be maximised where possible.

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Menzies

JANUARY 23, 2025

Menzies LLP - A leading chartered accountancy firm. HMRC may have written to you because they have reason to believe you have earned more than 1,000 income in the 2023/24 tax year (6 April 2023 to 5 April 2024) from making deliveries. If you have received a nudge letter from HMRC, do not ignore the letter.

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Menzies

MARCH 26, 2025

Menzies LLP - A leading chartered accountancy firm. National Planning Policy Framework Reforms Reforms of the National Planning Policy Framework (NPPF) were announced in December 2024 with the aim of increasing housebuilding in England. billion to the economy.

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Menzies

MARCH 26, 2025

Menzies LLP - A leading chartered accountancy firm. National Planning Policy Framework Reforms Reforms of the National Planning Policy Framework (NPPF) were announced in December 2024 with the aim of increasing housebuilding in England. billion to the economy.

Construction 40

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Menzies

OCTOBER 31, 2024

Menzies LLP - A leading chartered accountancy firm. The Autumn Budget 2024’s increase in Employers’ National Insurance to 15% presents a significant cost burden for law firms across all structures, potentially affecting hiring and salary strategies.

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Menzies

OCTOBER 28, 2024

Menzies LLP - A leading chartered accountancy firm. The annual exempt allowance for capital gains is just £3,000 in the 2024/25 tax year, so if crypto transactions lead to gains above this amount CGT will be payable. An increase to capital gains tax? When will CGT increase?

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Menzies

OCTOBER 30, 2024

Menzies LLP - A leading chartered accountancy firm. The 2024 Autumn Budget introduces rising costs for tech employers through increased National Insurance and wage requirements, while offering targeted relief for smaller tech businesses and investing in digital infrastructure to support sector growth.

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Menzies

JULY 14, 2025

Menzies LLP - A leading chartered accountancy firm. The October 2024 Budget brought with it sweeping reforms to the taxation of non-UK domiciled individuals and their associated offshore trust structures. UK resident beneficiaries may still be taxed under the benefits charge when receiving distributions or benefits.

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Menzies

APRIL 16, 2025

Menzies LLP - A leading chartered accountancy firm. Your qualifying income exceeds the MTD thresholds: 50,000 in tax year 2026/27 (based on 2024/25 earnings) 30,000 in tax year 2027/28 (based on 2025/26 earnings) 20,000 in tax year 2028/29 (based on 2026/27 earnings) How is qualifying income calculated?

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Menzies

JULY 23, 2025

Menzies LLP - A leading chartered accountancy firm. HMRC has introduced new crypto-specific sections on the Capital Gains pages of the 2024/25 self-assessment tax return, signalling a clear expectation for detailed reporting. From January 2026, UK cryptoasset users will enter a new era of tax transparency.

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Menzies

MAY 20, 2025

Menzies LLP - A leading chartered accountancy firm. The UK total VAT receipts for 2023-2024 were 168 billion, which was 9.5 HMRC have issued a Business Brief with the aim of tackling, what they view as, VAT avoidance in the care sector. billion lower than it theoretically should have been.

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Menzies

MAY 9, 2025

Menzies LLP - A leading chartered accountancy firm. Conclusion: Balancing Risk with Opportunity While overall insolvency rates are slightly lower than in 2024, the risks in specific sectors remain significant. As UK insolvencies remain high in early 2025, credit managers face an increasingly complex economic landscape.

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Menzies

APRIL 14, 2025

Menzies LLP - A leading chartered accountancy firm. The autumn budget, delivered on 30 October 2024, proposed a number of significant inheritance tax changes which are set to come into force over the next couple of years.

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Menzies

APRIL 3, 2025

Menzies LLP - A leading chartered accountancy firm. Throughout 2024 , HMRC conducted unannounced visits of businesses across England and Scotland that they suspected of using ESS. What is ESS? Electronic Sales Suppression (ESS) is more widely known as till fraud.

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Menzies

NOVEMBER 4, 2024

Menzies LLP - A leading chartered accountancy firm. Key Challenges in Hospitality in 2024 – 2025 The hospitality industry is set to face a number of challenges through the next 12 months or so. Also, what are some specific examples of good ESG practice that can help a hospitality business move forward?

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Going Concern

FEBRUARY 14, 2025

As noted by Bloomberg Law, the group composed of lawyer representing law firms, accounting firms, nonprofits, and private companies has stepped in to assist attorneys and law students find jobs. Accounting Firms Hire Growth Leaders as Dealmaking Shakes Up Industry [ Wall Street Journal ] Forty-nine of the 100 largest U.S.

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Menzies

MARCH 6, 2025

Menzies LLP - A leading chartered accountancy firm. Rebuild trust in public infrastructure projects The Government made a series of announcements on infrastructure plans in December 2024. The UK property sector is currently experiencing a range of challenges.

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Menzies

DECEMBER 4, 2024

Menzies LLP - A leading chartered accountancy firm. On 27th March 2024, the FRC issued amendments to UK GAAP. This follows extensive feedback from its published exposure draft FRED 82. The changes will impact all companies reporting under FRS 102 including small companies reporting under FRS 102 section 1A.

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Menzies

JULY 14, 2025

Menzies LLP - A leading chartered accountancy firm. The October 2024 Budget signalled a seismic shift in the UK personal tax landscape, dismantling some of the long-standing benefits previously enjoyed by non-domiciled individuals.

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Menzies

MARCH 6, 2025

Menzies LLP - A leading chartered accountancy firm. Retailers welcome the governments focus on growth, but are grappling with rising costs. Ahead of the Spring Forecast, we outline key measures to reduce tax burdens, stimulate investment, and enhance consumer spending.

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Menzies

DECEMBER 23, 2024

Menzies LLP - A leading chartered accountancy firm. General Market Sentiment for Deal The main Capital Gains Tax (CGT) rate change on 30 October 2024 provides an opportunity for transactions to refocus on commercial drivers rather than immediate tax implications.

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Menzies

MARCH 6, 2025

Menzies LLP - A leading chartered accountancy firm. With the significant changes announced in the Autumn Budget 2024, it should be unlikely that there are any further major changes on the horizon to be announced in the spring statement on 26 March 2025.

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Menzies

JULY 3, 2025

Menzies LLP - A leading chartered accountancy firm. Small producers must collect their 2024 data and report it by 1 April 2025. Extended producer responsibility packaging fees have been deferred for 1 year meaning fees for packaging placed on the market in 2024 will now start in October 2025.

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Menzies

JUNE 24, 2025

Menzies LLP - A leading chartered accountancy firm. Other pieces of legislation already in force Harassment Protections The legislation which came into effect in October 2024 introduced a duty for employers to prevent third-party harassment of employees.

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CPA Practice

JULY 8, 2024

AICPA News is a collection of recent announcements from the American Institute of CPAs and the Chartered Institute of Management Accountants. Congratulations to the following Recipients of the 2024 Outstanding Young CPA Award: Nicole DeRosa, CPA, MAcc, Wiss & Company LLP Shakor J. View the full list of criteria here.

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Going Concern

MAY 30, 2024

As mentioned in this week’s news brief, the Institute of Chartered Accountants in England and Wales (ICAEW) put together a snazzy little report on the state of mid-tier firms based on a survey of managing partners. Private Equity Move over talent, private equity is the profession’s hottest topic of 2024.

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Menzies

MARCH 6, 2024

Menzies LLP - A leading chartered accountancy firm. Before the 2024 budget we set out a few areas we felt would benefit from Chancellor, Jeremy Hunt’s attention. The post Spring Budget 2024 – Financial Services Sector Commentary was written by Menzies Demi Fossitt and appeared first on Menzies LLP.

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Menzies

SEPTEMBER 12, 2024

Menzies LLP - A leading chartered accountancy firm. The Property (Digital Assets etc) Bill, unveiled on 11 September 2024, seeks to recognise digital holdings, including cryptocurrencies, non-fungible tokens (NFTs), and carbon credits, as personal property under English and Welsh law.

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Menzies

MARCH 6, 2024

Menzies LLP - A leading chartered accountancy firm. The post Spring Budget 2024 – Manufacturing Sector Commentary was written by Menzies Demi Fossitt and appeared first on Menzies LLP. Meet our Manufacturing specialists For more budget commentary click here.

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Menzies

FEBRUARY 14, 2024

Menzies LLP - A leading chartered accountancy firm. Martin Hamilton highlights what we could expect from the Chancellor’s Spring Budget 2024 this year, and what could benefit the Manufacturing sector. Such an increase could see high streets shops business rate bills increase up to £1.92bn.

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Menzies

MARCH 6, 2024

Menzies LLP - A leading chartered accountancy firm. R&D and HMRC activity The new merged R&D scheme is going ahead from 1April 2024. The post Spring Budget 2024 – Technology Sector Commentary was written by Menzies Demi Fossitt and appeared first on Menzies LLP.

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Menzies

SEPTEMBER 19, 2024

Menzies LLP - A leading chartered accountancy firm. As the Autumn Budget nears, Menzies’ Manufacturing sector team have compiled a Wishlist for the sector, covering key areas such as a government tax roadmap, full expensing, innovation, and education investment for the sector.

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Menzies

FEBRUARY 14, 2024

Menzies LLP - A leading chartered accountancy firm. As we approach the Spring Budget on 6 March 2024, the UK Hospitality and Leisure sector faces ongoing challenges. increase in the standard multiplier from April 2024 adds strain. Tax Cuts The sector relies on disposable income and consumer confidence.

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Menzies

FEBRUARY 21, 2024

Menzies LLP - A leading chartered accountancy firm. Companies House will increase its fees from 1 May 2024, with Companies House noting that the changes are being made to “bring them in line with the costs of providing our service”.

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Menzies

SEPTEMBER 19, 2024

Menzies LLP - A leading chartered accountancy firm.

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Menzies

MARCH 6, 2024

Menzies LLP - A leading chartered accountancy firm. The abolition of the regime is being accompanied by the announcement that the CGT rate on sales of residential property will decrease from 28% to 24% with effect from 6 April 2024. Meet our Property and construction specialists For more budget commentary click here.

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