Menzies

MARCH 25, 2024

Menzies LLP - A leading chartered accountancy firm. If you don’t declare or don’t pay the tax you owe to HMRC, it’s likely you will receive significant penalties and in some cases be criminally prosecuted. Can a taxpayer avoid PDDD or MSD? What should I do if I am concerned about PDDD or MSD?

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Menzies

FEBRUARY 19, 2024

Menzies LLP - A leading chartered accountancy firm. Did you know under Extra Statutory Concession A19 (ESC A19) HMRC have the power to write off income tax and capital gains tax you owe in respect of historic periods where the underpayment is due to an HMRC error or administrative failure?

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CPA Practice

MAY 18, 2023

Victoria Saravia Bazoberry (New York), a graduate of the University of Notre Dame with a Bachelor of Business Administration in accountancy, is employed with KPMG LLP in New York, NY. Sells, one of the first CPAs in the U.S., was active in the establishment of the AICPA and played a key role in advancing education within the profession.

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Menzies

JANUARY 7, 2024

Menzies LLP - A leading chartered accountancy firm. If you find in this time of uncertainty that you are unable to pay your self assessment income tax liability, there is help at hand. How you contact HMRC will depend on how much tax you have to pay (see below).

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Menzies

MAY 15, 2024

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. This means that websites abroad will gather data on UK-resident sellers and disclose that information with HMRC.

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Going Concern

MAY 3, 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. The PwC tax leaks matter exposed the fragmented nature of current regulatory settings.

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Ryan Lazanis

SEPTEMBER 19, 2023

In this post, we’ll discuss key considerations for effective accounting website design and showcase a variety of inspiring examples that can guide your own creative approach. As such, instead of promoting your accounting skills, always prioritize client-centric messaging throughout your website. Let’s go!

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Going Concern

OCTOBER 17, 2022

It appears all of this (alleged) behavior stems from the accountant not wanting to lose her clients and lashing out at them when they tried to call things quits. ” The client was a bakery that ran into problems when they tried to switch to a different accountant. .”

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Menzies

APRIL 3, 2023

Menzies LLP - A leading chartered accountancy firm. Download Menzies 2023/24 Tax Rate Cards The Menzies Tax Rate card outlines the business and individual tax rates for the coming tax year (2023/24).

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Menzies

FEBRUARY 6, 2023

Menzies LLP - A leading chartered accountancy firm. HMRC have recently changed their policy on acknowledging Option to Tax notifications. This could be useful if a taxpayer did not recall whether they had opted to tax or not. This could be useful if a taxpayer did not recall whether they had opted to tax or not.

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Menzies

AUGUST 8, 2023

Menzies LLP - A leading chartered accountancy firm. HMRC have introduced new rules for the submission of R&D tax relief claims. This is with reference to the date the claim is filed, not the accounting period date, so any claims filed from 8 August 2023 onwards will need to comply with these new rules.

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Menzies

JUNE 6, 2023

Menzies LLP - A leading chartered accountancy firm. To dissuade taxpayers from all forms of non-compliance, the UK tax code contains many other types of penalties that apply in alternative scenarios. If the return is still outstanding after 6 months then HMRC can charge a penalty equal to the greater of £300 or 5% x tax due.

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Menzies

SEPTEMBER 2, 2022

Menzies LLP - A leading chartered accountancy firm. For example, if an energy-efficient vehicle cost £100,000, this would lead to a deduction against the taxable profits of £100,000, generating tax relief of £25,000 (assuming corporation tax paid at the new 25%, as from April 2023 corporation tax rates are due to increase).

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Menzies

MAY 19, 2023

Menzies LLP - A leading chartered accountancy firm. The UK tax system is designed in such way as to provide the taxpayer with important safeguards. To balance HMRC’s power to raise an assessment with protecting the taxpayer, specific time limits are imposed on HMRC to raise an assessment for a loss of tax.

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Going Concern

FEBRUARY 20, 2024

” Per the province’s rebellious accounting body, Ontario hosts Canada’s largest capital markets, financial institutions and pension funds, along with a large technology sector. We have tried continuously to get better financial information – including trying to use our contractual audit rights – but were continuously rebuffed.

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Menzies

OCTOBER 27, 2023

Menzies LLP - A leading chartered accountancy firm. Capital gains tax (CGT) has traditionally been a tax that most people could ignore. However, as has happened with higher rate tax, the reach of CGT has been growing and will extend further over the next few years. What can you do? What can you do?

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Menzies

OCTOBER 27, 2023

Menzies LLP - A leading chartered accountancy firm. Stamp Duty Land Tax (SDLT) can be a significant expense for property investors and developers in England and Northern Ireland. There may be significant tax savings where dwellings are acquired together with non-residential properties.

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Menzies

MARCH 1, 2023

Menzies LLP - A leading chartered accountancy firm. GAINING R&D KNOWLEDGE CAN BRING REWARDS FOR YOUR PROPERTY BUSINESS Relatively few surveyors claim research and development (R&D) tax relief, despite the fact that many activities meet the scheme’s eligibility criteria. depending on your tax rate from 1 April 2023).

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Menzies

APRIL 23, 2024

Menzies LLP - A leading chartered accountancy firm. The purpose of this scheme was to make declaring and paying tax on benefits easier, compared to the previous method of submitting P11D forms. Once registered you can apply online before the start of the tax year. What do you need to know? Why payroll your benefits?

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Menzies

OCTOBER 21, 2022

Menzies LLP - A leading chartered accountancy firm. But they might be unaware that most of the cost of the refurbishment may be eligible for tax relief under the capital allowances regime. Consulting a tax professional for advice at an early stage will enable companies to get the information needed to make a successful claim.

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Menzies

JUNE 8, 2023

Menzies LLP - A leading chartered accountancy firm. Government Consultations A technical consultation recently took place in May 2023 to consult on draft regulations which amend how a business claims a Plastic Packaging Tax credit in certain circumstances. Rate From 1 April 2023 the PPT rate has increased to £210.82

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Menzies

APRIL 12, 2024

Menzies LLP - A leading chartered accountancy firm. Growth has been subdued, with issues of housing supply, scarcity of affordable land, tax changes, and planning approvals remaining a problem. Other tax reliefs should not be overlooked. The property and construction sector has experienced real challenges of late.

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Menzies

APRIL 12, 2024

Menzies LLP - A leading chartered accountancy firm. Strategic divestments could help to raise the funds needed to invest, which may in turn help to minimise corporate tax liabilities by creating an opportunity to claim R&D tax relief. Business owners in the sector should harness data and manage cash flow carefully.

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Menzies

APRIL 12, 2024

Menzies LLP - A leading chartered accountancy firm. Turning this information into Smart Data can deliver a significant competitive advantage and is integral to the development of AI systems, machine learning and the Internet of Things.

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Menzies

APRIL 18, 2024

Menzies LLP - A leading chartered accountancy firm. The rules exist to ensure that in circumstances where a worker or contractor meets the definition of an employee, that worker pays broadly the same income tax and National Insurance contributions to that of a PAYE employee. What is IR35?

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CPA Practice

NOVEMBER 17, 2023

The standard business model for accounting firms is reactive and transactional – and it’s on life support. Renew has helped hundreds of accounting firms increase their number of target clients, focusing on inspiring metrics and work while making a significant impact with their clients. Already registered for this webinar?

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Menzies

MARCH 1, 2023

Menzies LLP - A leading chartered accountancy firm. Tax efficient rewards for surveyors and other employees As well as the above considerations, there are still many other ways in which it is possible to reward staff, at least in part, in a tax efficient way.

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Menzies

JANUARY 25, 2024

Menzies LLP - A leading chartered accountancy firm. Since then, till fraud has become a growing concern, especially to the tax authorities in the UK, US and Australia. Article written by Emily Donaldson. What should you know about suspected till fraud?

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Going Concern

FEBRUARY 16, 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. public accounting firms, however, turnover has continued to increase.

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Menzies

NOVEMBER 2, 2022

Menzies LLP - A leading chartered accountancy firm. Research and Development (R&D) tax relief is intended to promote and reward scientific and technological innovation in the UK. A Welcome Update To The R&D Tax Relief Scheme. The eligibility criteria must be amended to take account of these changes.

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Menzies

OCTOBER 14, 2022

Menzies LLP - A leading chartered accountancy firm. With Sage having discontinued Sage 50 Accounts and Sage 50cloud Accounts v26.2 at the end of September, and with Quickbooks Desktop due to be discontinued at the end of January 2023 – now could be the time to consider an update to your accounting software.

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Menzies

DECEMBER 12, 2023

Menzies LLP - A leading chartered accountancy firm. To assist you in this evaluation, our Selling your business whitepaper includes our Business Optimisation Checklist – a list that covers all the key questions that you need to consider focusing on areas such as your goals, customers, markets, people, governance, tax and supply chains.

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Menzies

JUNE 15, 2022

Menzies LLP - A leading chartered accountancy firm. Despite this growth in conducting cross-border transactions, the tax implications of such arrangements are all too often overlooked. Despite this growth in conducting cross-border transactions, the tax implications of such arrangements are all too often overlooked.

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Going Concern

FEBRUARY 9, 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. My buddy from undergrad works office security at one of the Big 4 accounting firms in Midtown.

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Menzies

OCTOBER 14, 2022

Menzies LLP - A leading chartered accountancy firm. With Sage having discontinued Sage 50 Accounts and Sage 50cloud Accounts v26.2 at the end of September, and with Quickbooks Desktop due to be discontinued at the end of January 2023 – now could be the time to consider an update to your accounting software.

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Menzies

JULY 14, 2023

Menzies LLP - A leading chartered accountancy firm. HMRC receives a vast amount of information from tax authorities around the world and then uses its supercomputer, Connect, to process that information and identify who to target with a tax investigation.

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Menzies

JANUARY 25, 2023

Menzies LLP - A leading chartered accountancy firm. As part of the process to renew or obtain a licence to operate, a declaration that the taxpayer is registered for tax will need to be obtained. The tax check must be carried out by the taxpayer themselves, so an agent cannot do this on their client’s behalf.

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