Menzies
OCTOBER 6, 2023
This new allowance enables companies to claim a 100% deduction for tax purposes in the year of spend on particular capital investments. This relief is of a temporary nature and will expire on 31st March 2026. As a result, potentially seeing significant tax savings. Who Is Eligible to Claim the Allowance?
Withum
APRIL 28, 2022
For taxable years beginning 2022, the top corporate tax rate is 7.5%; For taxable years beginning 2023, the top corporate tax rate is 7.25%; . The Department of Revenue has alerted taxpayers that it is following the federal extension for the 2020 individual income tax return and payments. April 3, 2020.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Menzies
MAY 11, 2023
Interest Tax Considerations Purchase out of cash Up front cost Yes No Relief based on capital allowances Can the asset qualify for the new full expensing relief enabling immediate corporation tax relief for all of the cost. Should surplus cash be used? Where the asset is an integral feature (e.g.
Menzies
FEBRUARY 13, 2024
Corporation Tax A reduction in the headline rate of corporation tax to support UK business in a challenging economic climate. Andrew England highlights what we could expect from the Chancellor’s Spring Budget 2024 this year, and what could benefit the Manufacturing sector.
Menzies
AUGUST 21, 2023
After the cessation of the “Super-deduction” capital allowance earlier this year, companies will have access to a new First Year Allowance, referred to as Full Expensing, that allows them to claim a 100% deduction for tax purposes in the year of spend on specific capital investments. Who Will be Eligible to Claim the Allowance?
ThomsonReuters
AUGUST 2, 2023
As the Organization for Economic Co-Operation and Development’s (OECD) ground-breaking Base Erosion Profit Shifting (BEPS) framework for taxing the digital economy is being implemented, countries around the globe are beginning to roll out the second of the OECD’s two BEPS pillars—Pillar 2.0. Discussions are ongoing.
Withum
OCTOBER 18, 2023
The QBI deduction was adopted primarily to keep pass-through business owners on a level playing field with large corporations that are enjoying a permanent flat 21% federal tax rate. However, unlike the reduced corporate tax rate, the QBI deduction is only temporary and no longer available after December 31, 2025.
Expert insights. Personalized for you.
59 
Let's personalize your content