Menzies

JANUARY 18, 2024

Menzies LLP - A leading chartered accountancy firm. When it comes to accounting year ends, most UK companies tend to fall into one of three categories. Whilst an annual set of accounts will show 12 months of trade, a balance sheet is a snapshot at a point in time. What time of year do I make the most profit?

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Menzies

AUGUST 17, 2022

Menzies LLP - A leading chartered accountancy firm. The move to this business structure was mainly due to changes to tax that restricted the total tax relief that individual landlords could claim on the financing costs of their residential properties. Is now the best time to incorporate? Tax restrictions.

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Menzies

DECEMBER 15, 2023

Menzies LLP - A leading chartered accountancy firm. Attitude and cashflow can be the main ones but resistance will come. ESG at a glance ESG – a term heard almost everywhere nowadays, but what is it? ESG stands for Environmental, Social and Governance. Environmental being a businesses impact on nature and the planet.

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Menzies

OCTOBER 6, 2023

Menzies LLP - A leading chartered accountancy firm. Planning Opportunities Financing Acquisition of Plant and Machinery In order to alleviate cash flow issues or insufficient cash reserves, many businesses opt to acquire plant and machinery through financing arrangements.

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Menzies

MARCH 6, 2023

Menzies LLP - A leading chartered accountancy firm. Skilled workforce One of the main factors that make the UK an attractive location for manufacturing is its skilled workforce. The United Kingdom has long been a hub for manufacturing, with a rich history of industry and innovation.

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Menzies

MAY 10, 2022

Menzies LLP - A leading chartered accountancy firm. Many of us will have received our first payslip of the new tax year and seen a reduction in our take-home pay, and many finance directors will have seen an increase in their employment costs. Yep, we are talking salary sacrifice (or salary exchange, to use the modern parlance).

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Menzies

OCTOBER 24, 2023

Menzies LLP - A leading chartered accountancy firm. In broad terms, the four main conditions that must be met are that: The transferring company must be a trading entity or the parent company of a trading group.

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Menzies

JUNE 16, 2023

Menzies LLP - A leading chartered accountancy firm. This was the theme for the latest Brighter Thinking Roundtable , jointly hosted by Menzies Creditor Services team and the Chartered Institute of Credit Management (CICM) in London.

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Menzies

DECEMBER 5, 2022

Menzies LLP - A leading chartered accountancy firm. The Criminal Finances Act 2017. Furthermore, companies can now be held criminally liable under The Criminal Finances Act 2017 for the offence of failing to prevent the facilitations of tax evasion. Selective criminal prosecution policy.

Tax 52

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Menzies

JANUARY 21, 2023

Menzies LLP - A leading chartered accountancy firm. Main benefits of EIS and SEIS Immediate income tax relief of up to 50% available on investment Future capital gains exemption on disposal of investment Potential to defer other capital gains through EIS/SEIS investment of proceeds.

Technology 52

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Menzies

JUNE 5, 2022

Menzies LLP - A leading chartered accountancy firm. HMRC have produced a Cryptoassets manual to provide ‘guidance’ on the tax treatment for individuals and businesses, whilst also outlining the current approach to the Decentralised Finance protocols: HMRC Cryptoassets Manual. Decentralised Finance (DeFi).

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Menzies

FEBRUARY 13, 2023

Menzies LLP - A leading chartered accountancy firm. Instead of employing specialists to prepare their accounts and make sure all their documentation is in order, some businesses are attempting to do it themselves. If finance teams are unaware of the latest standards there is a risk of IFRS compliance issues arising.

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Menzies

NOVEMBER 24, 2023

Menzies LLP - A leading chartered accountancy firm. Here’s our summary of the main points: What does this mean for the Construction sector ? The autumn statement has been a mixed bag for the property and construction sector. Some landlords are paying tax even though they are not profitable.

Construction 59

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Menzies

JANUARY 12, 2024

Menzies LLP - A leading chartered accountancy firm. Financing Arrangements : Obtaining short-term finance to acquire an asset knowing it is to be sold shortly is indicative of a trading transaction. An investor is more likely to hold an asset for a longer period of time.

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Going Concern

FEBRUARY 2, 2024

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. Comments are closed on Friday Footnotes and the Monday Morning Accounting News Brief by default. But the challenges she is facing defy simplicity.

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