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Report Predicts AI will Have a Transformational Impact on Professional Work by 2028

CPA Practice

Key industry findings from the report: Tax and Accounting Professionals: Freeing up time to deliver more value: Productivity is the highest priority for tax and accounting firms (59%), while internal efficiency (75%) tops the list in corporate tax and accounting departments.

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Chancellor's Autumn Statement.

Inform Accounting

Income tax and National Insurance contributions thresholds are staying the same until April 2028. The Upper rate tax band threshold will be lowered from £150,000 to £125,140 from 6th April 2023. Remember that small business owners bared the brunt of the tax increases? Taxing cryptoassets: what you need to know.

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Tax Rates & Reliefs

Inform Accounting

In this blog we set out some of the main tax rates. INCOME TAX The personal allowance and basic rate band threshold are now frozen in place until 5 April 2028. As earnings increase, individuals will move into higher tax bands. These allowances are in addition to the personal allowance and attract a 0% rate of income tax.

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Nurturing Biotech Companies in New York

Shay CPA

Businesses participating in START-UP NY can enjoy several tax credits, including the Business Tax-Free NY Area Elimination Credit, which eliminates franchise tax and personal income tax calculated by the business when filing its tax return.

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Basis Period Reforms – Do you have sufficient funds?

Menzies

Menzies LLP - A leading chartered accountancy firm. The basis period reform will not affect businesses with accounting year ends to 5 April or 31 March. In the transition year, HMRC are asking for tax ‘up front’ on the profits arising in the period from the accounting year end to the end of the tax year.