Menzies

AUGUST 8, 2023

Menzies LLP - A leading chartered accountancy firm. 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. What is happening? HMRC have introduced new rules for the submission of R&D tax relief claims.

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Menzies

JUNE 6, 2022

Menzies LLP - A leading chartered accountancy firm. Increasing main pool and special rate allowances from 18% and 6% to (for example) 20% and 8%. Introducing a first-year allowance for main pool and special rate pool of (for example) 40% and 13%.

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Menzies

AUGUST 12, 2022

Menzies LLP - A leading chartered accountancy firm. The measures will apply for accounting periods commencing on or after 1 April 2023. The UK Government has tabled draft legislation setting out new transfer pricing documentation requirements that will affect the largest UK businesses. Uncertainty for UK businesses.

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Menzies

FEBRUARY 11, 2023

Menzies LLP - A leading chartered accountancy firm. Following an introduction to Caroline Milton, Menzies International Manufacturing specialist, PT Plastics outlined their objectives and the challenges they believed they may face by expanding into the UK market with the main issue surrounding the financing of their projected growth.

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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

JANUARY 5, 2024

Menzies LLP - A leading chartered accountancy firm. Depending on the circumstances this may defer the tax relief available into the next accounting period. Grants It’s also worth checking whether any grants are available to fund the purchase of equipment. Grant Finder updates on a regular basis for other grants available.

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Menzies

MARCH 7, 2024

Menzies LLP - A leading chartered accountancy firm. There are three main areas that impact on the level of sales achieved by retailers: Their products Their people and The method in which sales are made. Labour costs can account for 15% of revenue, the largest cost after purchases, getting the staff levels wrong can be costly.

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Menzies

FEBRUARY 22, 2023

Menzies LLP - A leading chartered accountancy firm. Users need to refer to the Bulletin as well as the SORP to understand accounting practice in the areas affected. A charity can instead choose to measure such properties at cost less depreciation (and impairment) as it was before FRS102 and as it will be in group accounts.

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Menzies

AUGUST 17, 2023

Menzies LLP - A leading chartered accountancy firm. Principal private residence relief Generally speaking, where a property is your main residence throughout the whole period of ownership any gain made will be exempt due to principal private residence relief.

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Menzies

MAY 11, 2023

Menzies LLP - A leading chartered accountancy firm. One of the main aspects you need to think about when becoming Self Employed is the tax position and ensuring that you meet the tax reporting requirements.

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Menzies

JULY 14, 2023

Menzies LLP - A leading chartered accountancy firm. Two of the main knowledge sharing initiatives which HMRC has been an active participant in over recent years includes the OECD led Common Reporting Standard (CRS) and J5.

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Menzies

OCTOBER 21, 2022

Menzies LLP - A leading chartered accountancy firm. What’s in the Main pool? Main pool capital allowances offer tax relief for items that are moveable or classed as ‘plant and machinery’ including furniture, computers, and televisions. Claims made after this will have a greatly decreased return.

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Menzies

DECEMBER 7, 2022

Menzies LLP - A leading chartered accountancy firm. This article is a brief explainer of Loan-based crowdfunding firms and when they are covered by CASS 7. Essentially, CASS 7.10.7A notes that Loan-based crowdfunding firms that operate an electronic system in relation to P2P agreements are required to apply CASS 7. P2P = Peer-to-Peer.

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Menzies

AUGUST 21, 2023

Menzies LLP - A leading chartered accountancy firm. With the main rate of corporation tax now at 25%, companies will need to ensure they are maximising tax reliefs available to reduce the impact of this increase in rate. Who Will be Eligible to Claim the Allowance?

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Menzies

MAY 11, 2023

Menzies LLP - A leading chartered accountancy firm. One of the main aspects you need to think about when becoming a landlord is the tax position and ensuring that you meet the tax reporting requirements.

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Menzies

APRIL 28, 2022

Menzies LLP - A leading chartered accountancy firm. The UT concluded that these tests had been established too narrowly and that more weight should have been applied to the main function of the asset rather than just its appearance.

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Menzies

JANUARY 7, 2024

Menzies LLP - A leading chartered accountancy firm. There are two main aims of the UK AIFMD: prevent market instability and build-up of systemic risk in the financial system. We provide audit, accounts preparation and corporate finance services to help our clients with compliance and operational efficiencies.

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Menzies

MAY 19, 2023

Menzies LLP - A leading chartered accountancy firm. Take advantage of long-term and short-term planning techniques One of the main ways that business owners can construct a more durable business structure and enhance its agility is by taking advantage of both long-term and short-term planning techniques.

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Menzies

MARCH 22, 2023

Menzies LLP - A leading chartered accountancy firm. Depending on the circumstances this may defer the tax relief available into the next accounting period.

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Menzies

JANUARY 18, 2023

Menzies LLP - A leading chartered accountancy firm. Though there are 13 main sections to the sourcebook , we will summarise three of the CASS rules here, the ones that are most likely to have an impact on the procedures of the business. b) Segregation of client money in client bank accounts. What are we talking about?

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Menzies

APRIL 5, 2023

Menzies LLP - A leading chartered accountancy firm. As we settle into the first quarter of 2023 businesses are feeling the pressure, and some owner managers may have to face a cashflow crisis.

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Menzies

MARCH 15, 2024

Menzies LLP - A leading chartered accountancy firm. It directly aligns the objectives of the main shareholders with the employees, to grow the value of the business. However, incentivisation by equity reward can act as a perfect retention tool for a number of reasons.

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Menzies

DECEMBER 19, 2023

Menzies LLP - A leading chartered accountancy firm. One of the main reasons for this lack of detailed analysis often comes down to the purpose of SME record keeping; primarily to ensure compliance with tax and statutory obligations.

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Menzies

JUNE 29, 2023

Menzies LLP - A leading chartered accountancy firm. The main difference is that NICs is not chargeable on miscellaneous income. Investing in cryptoassets is becoming more commonplace, but only 42% of crypto owners were aware there might be tax to pay when using crypto in a survey commissioned by HMRC in 2022.

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Menzies

FEBRUARY 27, 2023

Menzies LLP - A leading chartered accountancy firm. The main benefit of COP9 for taxpayers is that provided a full disclosure is made, HMRC will guarantee the individual receives immunity from criminal prosecution. How does the digital disclosure service work?

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Accounting Insight

NOVEMBER 7, 2023

However, the main driver is the mind. The author Gordon Berry is a Master Practitioner in Neuro-Linguistic-Programming, Certified Coach, Certified Hypnotherapist, and Time-Line-Therapist and also a Chartered Accountant and a Chartered Tax Adviser. There is a clue in the word ‘emotion’. I learned new things.

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Menzies

MARCH 1, 2023

Menzies LLP - A leading chartered accountancy firm. The main reason is a lack of awareness. The wages of staff working on R&D projects are likely to be the main costs incurred by surveying firms looking to claim tax credits. Professional tax advisers can also help businesses and reduce the burden.

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Menzies

NOVEMBER 10, 2023

Menzies LLP - A leading chartered accountancy firm. There are three main labels proposed for sustainable investment products: Sustainable Focus – for products investing in assets that are environmentally or socially sustainability.

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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

AUGUST 1, 2023

Menzies LLP - A leading chartered accountancy firm. One of the main benefits of a company when compared to a sole trader business is that there is flexibility in when and how you extract profits, giving you the control to ensure you are optimising your overall tax position.

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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 30, 2022

Menzies LLP - A leading chartered accountancy firm. During the SoLR customer accounts are transferred to another energy supplier automatically by the energy regulator Ofgem. In the last year, more than 20 energy companies have fallen victim to the unprecedented increases to the price of wholesale gas.

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Menzies

AUGUST 22, 2023

Menzies LLP - A leading chartered accountancy firm. The FTT recognised: The show had two main purposes, fundraising and education, which were interdependent and of equal importance. The conditions to apply the VAT exemption on admission to fundraising events were considered in detail in the Yorkshire Agricultural Society case.

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Menzies

MAY 19, 2023

Menzies LLP - A leading chartered accountancy firm. There are three main factors that influence the answer to this question which are – The behaviour giving rise to a loss of tax. The UK tax system is designed in such way as to provide the taxpayer with important safeguards. How long do HMRC have to raise an assessment?

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Menzies

AUGUST 1, 2022

Menzies LLP - A leading chartered accountancy firm. Below are some of the main obstacles that you may have to face during the initial stages of your e-commerce journey, as well as some guidance and tools that may help you tackle them. What are the challenges and how can you overcome them? Finding the right product.

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PYMNTS

MARCH 30, 2020

“The main problem will be, as ever in construction, whether this goes through the supply chain to the subcontractors, and the subcontractors of those subcontractors,” he said. “These are the firms that are most vulnerable at the moment and the ones most reliant on cash flow.”

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Menzies

MAY 10, 2022

Menzies LLP - A leading chartered accountancy firm. Quite simply, the main national insurance rates have gone up to 15.05% for employers and 13.25% for employees. Yep, we are talking salary sacrifice (or salary exchange, to use the modern parlance).

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