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Menzies LLP - A leading chartered accountancyfirm. Tax reliefs for the UK’s world-leading creative industries, which will provide £15 billion of support over the next 5 years. From April 2025 the National Living Wage will increase to £12.21 A key theme of today’s budget was “Invest, Invest, Invest!”
Firm Watch Accountancyfirm BDO fined €1.3 million for work with Russian-held football club Vitesse [ NL Times ] The fine is regarding the work that BDO did as an accountant for football club Vitesse, and a holding company of the former owner of the club, Russian businessman Valeri Oyf, sources told FD.
Menzies LLP - A leading chartered accountancyfirm. This was due to end in April 2021 and will now come to an end in April 2025. The government has extended the availability of 100% first year allowances on the acquisition of cars, zero-emissions goods vehicles and equipment.
Menzies LLP - A leading chartered accountancyfirm. Further information has now been made available in respect of the abolition of the Furnished Holiday Lettings (FHL) tax regime that will take effect from April 2025. This is due to have effect from: 6 April 2025 for income tax and capital gains tax.
Menzies LLP - A leading chartered accountancyfirm. Their manifesto also stated that the full expensing capital allowance relief (100% tax deduction on the full cost of qualifying assets) would also remain, which is a useful relief for companies looking to invest heavily in their capital assets. in April 2024.
Menzies LLP - A leading chartered accountancyfirm. With business rates relief set to end in March 2025, the sector is hoping for a review and reform which will help ease the burden of business rates on a more permanent basis. See below what has been proposed.
Menzies LLP - A leading chartered accountancyfirm. With business rates relief set to end in March 2025, the sector is hoping for a review and reform which will help ease the burden of business rates on a more permanent basis. See below what has been proposed.
New features and enhancements in SurePrep TaxCaddy, Cloud Audit Suite, and ONESOURCE support the automation of tax workflows, driving efficiency and saving time for professionals in firms and corporatetax departments. ONESOURCE E-Invoicing is now generally available to customers globally.
Menzies LLP - A leading chartered accountancyfirm. However, the 2022/23 tax gap figures that have recently been published overwhelmingly demonstrate that it’s small businesses that account for the majority of the tax gap at 60% (approximately £24 billion) of lost tax in 2022/23.
These trends will lead to an increased interest among tax and accountingfirms to outsource tax preparation services to free up staff time to focus on higher-value work. And governments around the world – 136, to date – have also already agreed to adopt the 15% minimum corporatetax.
Menzies LLP - A leading chartered accountancyfirm. The historical ability for non-residents to avoid UK tax on property sales and potentially benefit from reduced stamp duty has undergone significant changes.
The Inflation Reduction Act of 2022 imposes a new 15% corporate alternative (book) minimum tax on the adjusted financial statement income of applicable corporations (those with 3-year average financial statement income of at least $1 billion). Who needs to know: Accountingfirms and other tax professionals.
Under this act, if a corporation’s CEO or highest-paid employee’s compensation exceeds 50 times the median worker’s pay, the corporatetax rate would be increased by a penalty determined by the legislation.
Blog home The Thomson Reuters Institute has released its latest report on generative AI (GenAI), titled 2025 Generative AI in Professional Services. This comprehensive study explores the attitudes, perceptions, and usage of GenAI among professionals in the legal, tax & accounting, risk & fraud, and government sectors.
Firm Watch Whistleblower says big accountingfirm hid evidence that a Saudi co-defendant helped finance 9/11 [ Florida Bulldog ] So this is…a lot. For the second year in a row, New York-based accountingfirm PKF O’Connor Davies took the #1 spot on Vault’s Best Overall Internships list.
Comments left on: [link] pic.twitter.com/73IzrRpEpN — Going Concern (@going_concern) January 10, 2025 Survey Says 2025’s business game-changers: AI surge, costs and housing [ KPMG ] Business leaders aren’t worried about talent anymore because they have an unlimited supply in India and The Philippines. PCAOB lawsuit.
Menzies LLP - A leading chartered accountancyfirm. Download our Tax Rate Card 2025/26 Download now The Menzies Tax Rate card outlines the business and individual tax rates for the coming tax year (2025/26).
Menzies LLP - A leading chartered accountancyfirm. On 6 th April 2025 employers national insurance costs increased from 1,617 to 2,583 a year for each full-time employee on minimum wage, a 60% increase.
Menzies LLP - A leading chartered accountancyfirm. HMRC launched a consultation on transfer pricing documentation and its scope on 28 April 2025. This initiative underscores HMRC’s commitment to continuously review documentation requirements to facilitate efficient and targeted compliance activities.
With the US presidential election is right around the corner, and since we’re an accountingfirm that loves taxes, it’s only right that we make a post discussing President Trump’s Tax Plan vs Former Vice President Joe Biden. Child Tax Credits. CorporateTax Rates. What are the differences?
Menzies LLP - A leading chartered accountancyfirm. Growth forecast cut dampens outlook The halving of the OBRs 2025 growth forecast from 2% to 1% is unwelcome news for manufacturers, signalling a sluggish economic environment ahead.
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