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Bitcoin Halving 2024

Menzies

Menzies LLP - A leading chartered accountancy firm. This date is expected to be around 19 th April 2024 (but is not confirmed). Your holding will be classed as a capital asset and any gains or losses realised on disposal will be subject to Capital Gains Tax. A Bitcoin Halving Event effects all who are involved in Bitcoin.

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Private Client: Spring Budget 2024 Predictions & Wish List

Menzies

Menzies LLP - A leading chartered accountancy firm. See our Spring Budget 2024 Predictions and Wish List for from our Private Client Team below. Income tax Tax Liabilities Given the increased interest rates, more taxpayers will be benefitting from increased interest on income.

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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).

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Private Tutors and UK tax

Menzies

Menzies LLP - A leading chartered accountancy firm. Online tutors are easy to find and there are many websites offering to match students to tutors, but how many tutors consider the potential UK tax reporting obligations arising from their endeavours? This information will start to be collected from 1 January 2024.

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UK tax considerations for E-sports earnings

Menzies

Menzies LLP - A leading chartered accountancy firm. If you earn Esports income from activities such as streaming, sponsorship, or tournament winnings, did you know you may need to declare this to HMRC and you may have tax to pay? If you receive any prize money from outside the UK, tax may be withheld on these earnings.

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HMRC’s new Rules Bring Scrutiny to Vinted, Airbnb, and eBay Sellers

Menzies

Menzies LLP - A leading chartered accountancy firm. As the digital marketplace continues to expand, so does the focus of tax authorities on income generated from online trading. Impact on sellers For those already adhering to tax obligations, the impact may be minimal. Are you selling on Vinted, Airbnb or eBay?

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New R&D disclosure facility

Menzies

Menzies LLP - A leading chartered accountancy firm. The CIOT has confirmed that HMRC are in the process of developing a new disclosure facility specifically for R&D claims, due to open in June 2024. With the estimated tax fraud in R&D at £1.05 Why is there a need for a new disclosure facility?