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Submitting your Plastic Packing Tax return – HMRC update

Menzies

Menzies LLP - A leading chartered accountancy firm. The Plastic Packing Tax is now operational. On 1 July 2022, HMRC updated their guidance on how to submit your Plastic Packaging Tax return. When to submit your return. Your tax returns must cover the below accounting periods.

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Do you have tax to disclose on let property in Dubai?

Menzies

Menzies LLP - A leading chartered accountancy firm. The Times has recently reported on leaked data which shows approximately 17,000 British citizens owned approximately 22,000 properties in Dubai as of spring 2022, and yet only 1,900 UK tax residents reported let property income from a Dubai property in the 2021/22 tax year.

Tax 59
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Private Tutors and UK tax

Menzies

Menzies LLP - A leading chartered accountancy firm. Online tutors are easy to find and there are many websites offering to match students to tutors, but how many tutors consider the potential UK tax reporting obligations arising from their endeavours? What will private tutors want to know?

Tax 59
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What type of service guarantees do accountants offer?

Mark Lee

When accountants ask me how they can distinguish themselves from their immediate competition, I remind them that whilst the work output may be much the same (in terms of accounts and tax returns), the service, style, approach and fees may be very different. In other cases they may be on a page that references fees.

Account 94
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UK tax considerations for E-sports earnings

Menzies

Menzies LLP - A leading chartered accountancy firm. If you earn Esports income from activities such as streaming, sponsorship, or tournament winnings, did you know you may need to declare this to HMRC and you may have tax to pay? If you receive any prize money from outside the UK, tax may be withheld on these earnings.

Sports 59
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CAPITAL GAINS TAX ON RESIDENTIAL PROPERTY: 30 DAY REPORTING

Menzies

Menzies LLP - A leading chartered accountancy firm. UK residents disposing of residential property where a chargeable gain arises need to report and pay any Capital Gains Tax (CGT) due within 60 days of completion of the sale. You may need to seek guidance from your accountant or tax advisor on which expenses can be deducted.

Tax 52
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What’s the difference between accounting and bookkeeping?

Reckon

Much like those people who don’t understand the difference between Aussie rules, league and association football and call them all footy, a number of small business owners use the terms accounting and bookkeeping interchangeably. An easy start is to say that an accountant can be a bookkeeper but a bookkeeper isn’t an accountant.