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Directors’ loan accounts: carefully balancing the books

Menzies

Menzies LLP - A leading chartered accountancy firm. Sourcing funds for the accoun t A directors’ loan account records money lent to, or borrowed from, the company by its directors which isn’t a business cost, such as salary or expense payments, or a dividend to a shareholder. per cent on the loan.

Account 52
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Finance Directors’ Tax Toolkit

Menzies

Menzies LLP - A leading chartered accountancy firm. Menzies are often appointed by the Finance Directors of large companies and groups to work alongside their existing auditors. Menzies is a leading UK firm of accountants, finance and business advisers. Why Menzies?

Finance 52
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Navigating the New Year Slump: Mastering the Art of Cashflow for Hospitality Businesses

Menzies

Menzies LLP - A leading chartered accountancy firm. Likewise, if you add to this wages, payroll taxes, VAT, corporation tax payments, loan repayments, deposit movements and other overheads, the situation can become even more complicated.

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Tax rates and allowances 2023/24

Menzies

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).

Tax 40
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The continued push for Cryptoasset Clarification

Menzies

Menzies LLP - A leading chartered accountancy firm. The CIOT has made its representation for the Autumn Statement 2023, and also completed the submission response to the recent HM Revenue and Customs consultations on Decentralised Finance (Defi) and the need to reform the regulation framework.

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Timing is Everything: Elevate Your Retail Business with Smart Year-End Planning Strategies for Optimal Profits

Menzies

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. They choose a 31 March year end as it broadly ties up with the UK tax year. When do I need to pay my corporation tax?

Retail 59
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Super-Deduction Substituted by Full Expensing

Menzies

Menzies LLP - A leading chartered accountancy firm. This new allowance enables companies to claim a 100% deduction for tax purposes in the year of spend on particular capital investments. For example, consider a company that has a corporation tax liability of £1 million for the 12-month period ending on 31 March 2024.