Menzies

OCTOBER 30, 2024

Menzies LLP - A leading chartered accountancy firm. Tax reliefs for the UK’s world-leading creative industries, which will provide £15 billion of support over the next 5 years. The government is also increasing the minimum wages for Under 18s and Apprentices to £7.55 A key theme of today’s budget was “Invest, Invest, Invest!”

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Ronika Khanna CPA,CA

JUNE 7, 2024

It can be easy to ignore these notices in favour of more pressing business related issues, which is probably the worst thing to do since the government is extremely persistent and will usually follow up with arbitrary assessments and interest and penalties. (for example payroll remittances are referred to as deductions at source).

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Ronika Khanna CPA,CA

AUGUST 13, 2024

This is a transcript from my YouTube Video on 5 Reasons Why Your Business Needs Accounting System Hello everyone! Today, I want to dive into a crucial topic for small business owners: accounting systems. So, what exactly is an accounting system? At its core, an accounting system is a method of organizing your financial data.

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Withum

OCTOBER 3, 2024

Relief workers affiliated with government or philanthropic organizations assisting in a covered disaster area. The current list of eligible localities is always available on the Tax Relief in Disaster Situations page on IRS.gov. The most common filings and postponements are listed below.

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Ronika Khanna CPA,CA

MARCH 22, 2024

Table of Contents As an accountant I frequently receive panicked calls from business owners who have received ominous letters from the tax authorities requesting that overdue tax returns be immediately filed. Others receive notices of assessments for estimated taxes payable if they have an overdue tax return.

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ThomsonReuters

NOVEMBER 8, 2022

The weekly ESG Toolkit article published in Accounting & Compliance Alert (ACA) rounds up environmental, social and governance (ESG)-related Checkpoint updates across practice areas. SEC Accounting and Reporting Update (SARU): No. Tired of wondering whether your clawback policy would pass muster in the eyes of the SEC?

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Going Concern

AUGUST 30, 2023

to evaluate employees moving between large accounting firms and the IRS, a.k.a The Congressional request specifically noted interest in large accounting firms. The request noted that the review should include “the extent to which large accounting firms and their employees are taking advantage of the revolving door [i.e.,

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Going Concern

APRIL 15, 2024

In response, the Public Company Accounting Oversight Board has drafted a rule that the accounting firms can have public trust or private financials—but they can’t have both. Public accounting firms operate in a unique space in our society. Regulations need to change to match. But what about the books of the auditor?

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Menzies

SEPTEMBER 19, 2024

Menzies LLP - A leading chartered accountancy firm. With the new Labour Government’s first budget approaching on 30 th October 2024, our Hospitality & Leisure team are looking ahead to what Keir Starmer could do to alleviate the ongoing challenges faced by the sector. in April 2024.

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Accounting Insight

MARCH 3, 2023

As digital transformation continues to accelerate the evolution of tax and accounting, the players who expedite their embrace of these six tech trends will have an early mover advantage. And governments around the world – 136, to date – have also already agreed to adopt the 15% minimum corporate tax.

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Menzies

JULY 29, 2024

Menzies LLP - A leading chartered accountancy firm. CICs have provisions in their governing document putting a limit on the distribution of profits or payment of salaries or distribution of assets on a winding up. They do not have any special tax reliefs and will pay tax on their profits like “normal” limited companies.

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Menzies

JULY 9, 2024

Menzies LLP - A leading chartered accountancy firm. The UK electorate may have voted for a change in government, but underpinning the Labour manifesto is a strong emphasis on stability. Labour expect a push towards cleaner power to create good, well-paid jobs across the UK.

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Cheap Accounting

FEBRUARY 4, 2022

Some times accountancy data can be lost. They say that “a reasonable excuse is something that stopped you meeting a tax obligation that you took reasonable care to meet”. The first step in your recovery plan will be to establish a clean starting point – the last date at which you have your accounting data available.

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Going Concern

JULY 6, 2023

When PwC Australia CEO Tom Seymour stepped down in May after it was confirmed he’d received tainted emails containing confidential government tax intel leaked by former partner Peter Collins, it seems the firm hoped sacrificing him was enough to settle the matter and move on. Spoiler: it was not. For posterity, natch.

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Menzies

AUGUST 4, 2024

Menzies LLP - A leading chartered accountancy firm. For companies that pay the full rate of corporation tax, this reduces the cost of plant and machinery by 25% in the year in which it is purchased. Following the change in Government however it is unclear whether this legislation will be implemented.

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CPA Practice

JULY 16, 2024

CLA Appoints New Chief Data Officer and Chief Financial Officer CLA (CliftonLarsonAllen LLP), the eighth-largest accounting firm in the United States, announced that Ray Price, Jr. financial institutions, accounting firms, and software providers.

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Inform Accounting

OCTOBER 27, 2022

But what if we told you there are several strategies you can adopt to help reduce the amount of tax you pay? Because we are sharing six tips to help you save tax and get the most for your money! Hire an accountant First and foremost, we strongly recommend hiring an accountant. Taxing cryptoassets: what you need to know.

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CPA Practice

NOVEMBER 13, 2023

Top 50 accounting firm Cohen & Co. The firm also provides outsourced corporate tax and accounting advisory services. We are joining a team that, together, will be the firm for tax, assurance, and business consulting work for private companies and high-net-worth individuals in our region.

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ThomsonReuters

DECEMBER 22, 2023

As emerging technologies continue to reshape industries, tax departments are not exempt from the transformative power of innovation. In this era of rapid change, corporate tax professionals must stay ahead of the curve and leverage the latest tools and strategies to navigate the complex landscape of tax compliance.

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CPA Practice

AUGUST 22, 2023

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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ThomsonReuters

AUGUST 2, 2023

As the Organization for Economic Co-Operation and Development’s (OECD) ground-breaking Base Erosion Profit Shifting (BEPS) framework for taxing the digital economy is being implemented, countries around the globe are beginning to roll out the second of the OECD’s two BEPS pillars—Pillar 2.0. global minimum tax regime.

corporation tax 98

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Menzies

SEPTEMBER 19, 2024

Menzies LLP - A leading chartered accountancy firm. Business Asset Disposal Relief is popular for entrepreneurs as this currently allows capital gains on disposal of business assets to be taxed at a low rate of 10%. The Government could remove the lifetime allowance for the relief of £1 million, or cut the relief altogether.

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ThomsonReuters

NOVEMBER 16, 2023

In the second installment of our three-part series on e-invoicing, we will explore how e-invoicing and continuous transaction control (CTC) regulations impact tax compliance, and examine some of the challenges and considerations that corporate tax teams may encounter.

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Menzies

NOVEMBER 9, 2023

Menzies LLP - A leading chartered accountancy firm. Tax Major tax changes are unlikely. Buy to let After changes to the buy to let interest relief were bought in many landlords have chosen to start limited company so they are paying close attention to the rate of corporation tax.

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CPA Practice

JANUARY 5, 2024

A Nevada accountant was sentenced Wednesday to 13 months in prison for his role in separate bribery and tax fraud conspiracies. Lewis, of Henderson, was a CPA employed by Las Vegas-based accounting firm L.L. According to court documents and statements made in court, Dustin M. Bradford & Company.

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ThomsonReuters

FEBRUARY 6, 2024

Types of indirect tax The value of indirect tax to tax professionals Differences between direct and indirect tax Tax planning and management is one of the primary areas accountants help their clients. Taxes are either direct tax or indirect tax. What is indirect tax?

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CPA Practice

APRIL 5, 2024

The IRS is identifying his customers, determining their correct tax liabilities, pursuing refunds that were erroneously issued and collecting additional taxes and penalties, according to a court document. government fees and payments he received from customers for whom he prepared tax returns with false or fraudulent claims.

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Withum

JANUARY 13, 2022

The COVID-19 pandemic created a vast network of small business relief programs in the form of loans, grants, tax credits and direct payments. Now that these programs are expiring it is time to report all these funds on taxpayer’s 2021 business tax returns. A3: SVOG funds are recorded as tax-free grant income on the income statement.

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Menzies

SEPTEMBER 2, 2022

Menzies LLP - A leading chartered accountancy firm. The government has extended the availability of 100% first year allowances on the acquisition of cars, zero-emissions goods vehicles and equipment. This was due to end in April 2021 and will now come to an end in April 2025.

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ThomsonReuters

MARCH 28, 2023

The main goal of compliance is of course to ensure all taxes are reported in accordance with the relevant regulations, accurately, and on time. However, with governments around the world rolling out new requirements for E-invoicing, real-time reporting, and other data-intensive tax initiatives, compliance is becoming increasingly complex.

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ThomsonReuters

FEBRUARY 20, 2024

International GAAR rules Keeping up with tax avoidance regulation Abusive tax planning is not just a concern among U.S. tax authorities, it is a global concern. Governments around the world have long taken steps to crack down on tax evasion, such as using general anti-avoidance rules, better known as GAAR.

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CPA Practice

JUNE 1, 2023

BEPS also requires that companies itemize their revenues by country, and as taxation bodies develop more sophisticated models that compare BEPS data with corporate tax return data, there may be an increase in investigations. Further, teams need to adapt to a shifting landscape of rules as the framework evolves over time.

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ThomsonReuters

FEBRUARY 6, 2024

Examples of direct tax Understanding tax provision Understanding state apportionment Differences between direct and indirect taxes When a taxpayer must pay taxes directly to the government, meaning the taxes cannot be shifted to other entities or individuals, it is known as direct tax.

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ThomsonReuters

JUNE 22, 2021

Indirect tax specialists in North America and Europe expect to see more digitized tax filing and real-time remittance requirements in the next two years — and they lack the technology and operational processes to meet these demands. That’s a key finding from the 2021 State of the Corporate Tax Department report from Thomson Reuters.

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Menzies

MARCH 1, 2023

Menzies LLP - A leading chartered accountancy firm. Profits can be left in the company within retained earnings or distributed to the shareholders via dividends, governed by the rights attached to the shares of each shareholder. A limited company is more tax efficient if you make more profit than you need to take out of the business.

corporation tax 52

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CPA Practice

APRIL 17, 2023

By Bruce Willey, JD, CPA, Kiplinger Consumer News Service (TNS) A buzzword appeared in the world of small business about a decade ago: the accountant as “most trusted advisor.” As a certified public accountant, I’m flattered that we’re consulted for a growing range of business needs, including rising taxes.

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Accounting Insight

MARCH 31, 2023

Higher interest rates, 11% Access to finance, 9% Ability to hire or retain staff, 7% Whilst inflation is set to fall over the course of the year, SME owners may see other costs rise as Corporation Tax increases to 25%. The post iwoca research reveals top 5 SME concerns in 2023 appeared first on Accounting Insight News.

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