Menzies

APRIL 12, 2024

Menzies LLP - A leading chartered accountancy firm. INVESTING IN INNOVATION The UK is the fourth most innovative country in the world, according to the latest Global Innovation Index, and the Government’s Industrial Strategy is aiming to increase spending on R&D by 2.4%

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Menzies

APRIL 23, 2024

Menzies LLP - A leading chartered accountancy firm. The Payrolling Benefits in Kind scheme was set up by the UK Government in 2016 and this refers to the practice of processing employees benefits through the payroll rather than on a P11d. Once registered you can apply online before the start of the tax year.

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Menzies

JULY 29, 2023

Menzies LLP - A leading chartered accountancy firm. The Senior Accounting Officer (SAO) is a regime where large companies / groups are required to appoint an individual to act as their SAO and the SAO must certify each year whether there are “appropriate tax accounting arrangements” in place.

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Menzies

MARCH 6, 2024

Menzies LLP - A leading chartered accountancy firm. As a sector that traditionally struggles with labour shortages, it remains to be seen whether the additional 2% NIC cut and changes around child benefit will have the positive effect that the government hopes for.

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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

MARCH 11, 2024

Menzies LLP - A leading chartered accountancy firm. Such areas were: Reinstating tax free shopping, which would have provided overseas residents a VAT exemption on goods they acquire in the UK. We had hoped the chancellor would tackle the areas we covered in our budget wish list.

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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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Menzies

DECEMBER 12, 2023

Menzies LLP - A leading chartered accountancy firm. Choosing the right time to sell a business can be a tricky decision. Knowing when and how to start planning for this eventuality is an important consideration and can make all the difference in executing a successful exit, but how early should you start planning?

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Menzies

FEBRUARY 12, 2024

Menzies LLP - A leading chartered accountancy firm. Tax rates With income tax thresholds still frozen there have been rumours of a 2% cut to the income tax rate, however the Chancellor has downplayed these rumours so we are not expecting to see any dramatic changes to income tax this time around.

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Menzies

JANUARY 20, 2023

Menzies LLP - A leading chartered accountancy firm. We’re devised this ‘Finance Directors’ tax toolkit’ to highlight the ways in which Menzies often help large and multinational companies including business tax, employment solutions and innovation incentives (e.g.

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Menzies

FEBRUARY 13, 2024

Menzies LLP - A leading chartered accountancy firm. Reconsidering tax relief In the residential rental sector, there is an increase in the number of private landlords suffering rent arrears as lower income tenants struggle to pay rents.

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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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Menzies

JANUARY 25, 2023

Menzies LLP - A leading chartered accountancy firm. G20 and 136 OECD Members have agreed to reform global tax by establishing a 15% global minimum tax rate. The effective tax rate is calculated by a series of calculations for each of the relevant entities and permanent establishments.

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Menzies

MARCH 6, 2024

Menzies LLP - A leading chartered accountancy firm. The FHL regime has been around for years and provides individuals and companies who hire out furnished properties as holiday lets with various tax advantages. In recent years the number of landlords providing furnished holiday homes has increased significantly.

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Menzies

NOVEMBER 10, 2023

Menzies LLP - A leading chartered accountancy firm. A plan which spans several terms of government office, enabling sufficient time to implement a futuristic and sustainable infrastructure. Enhanced tax incentives for SMEs investing in greener fleets would be welcome. What are our recommendations?

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Menzies

AUGUST 17, 2023

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. The tax return is due for filing by the 31st January following the end of the tax year.

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Menzies

NOVEMBER 9, 2023

Menzies LLP - A leading chartered accountancy firm. Significant announcements are usually reserved for the autumn budget, however with various tax rates frozen until 2027/28 and tax cuts seemingly off the table, it is not clear if Chancellor Jeremy Hunt will have any big announcements in store for the tech sector this November.

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Menzies

NOVEMBER 24, 2023

Menzies LLP - A leading chartered accountancy firm. Apprenticeship growth sector pilot: The government is committing £50 million to deliver a two-year apprenticeships pilot to explore ways to stimulate training in growth sectors including manufacturing, and to address barriers to entry in high-value standards.

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Menzies

NOVEMBER 30, 2023

Menzies LLP - A leading chartered accountancy firm. If you are in the manufacturing sector, there is no escaping ESG (Environmental, Social and Governance). By taking advantage of government tax incentives for qualifying projects, companies can improve cashflow and increase competitiveness at the same time.

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Menzies

FEBRUARY 19, 2024

Menzies LLP - A leading chartered accountancy firm. In January 2024, HMRC released a summary of consultation responses on the proposed reform of transfer pricing rules (along with permanent establishment/PE and Diverted Profits Tax/DPT rules). What UK changes can we expect? What might we expect?

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Menzies

FEBRUARY 19, 2024

Menzies LLP - A leading chartered accountancy firm. In January 2024, HMRC released a summary of consultation responses on the proposed reform of transfer pricing rules (along with permanent establishment/PE and Diverted Profits Tax/DPT rules). What UK changes can we expect? What might we expect?

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Going Concern

FEBRUARY 9, 2024

Big 4 Big Four Lobby Congress on Accounting Pipeline, AI, Crypto [ Bloomberg Tax ] PwC spent the most at $3.27 The Big Four firms targeted a portion of their millions in Capitol Hill spending last year on a pivotal problem facing the industry: shoring up a dwindling supply of qualified accountants.

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Menzies

NOVEMBER 24, 2023

Menzies LLP - A leading chartered accountancy firm. Download our full Autumn Statement report 2023 Business rates support package The government is announcing a business rates support package worth £4.3 The government is committed to supporting businesses with business rates bills.

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Menzies

NOVEMBER 9, 2023

Menzies LLP - A leading chartered accountancy firm. A Vision for a Sustainable Future: Overhauling UK Retail Policies We are proposing essential recommendations to the UK government in preparation for the upcoming Autumn statement.

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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. What changes are being made to R&D Tax Relief?

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Menzies

JANUARY 5, 2024

Menzies LLP - A leading chartered accountancy firm. Taking government tax incentives and available grants into consideration at the start of your journey is a smart move, to ensure you reap the returns in the quickest possible timeframes.

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Menzies

MAY 17, 2022

Menzies LLP - A leading chartered accountancy firm. Historical tax incentives also made the market a lucrative option but the tax rules have changed and not for the better. Historical tax incentives also made the market a lucrative option but the tax rules have changed and not for the better.

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Menzies

APRIL 12, 2024

Menzies LLP - A leading chartered accountancy firm. Manufacturers are leading the way with investment in R&D and opportunities exist to utilise tax incentives, such as R&D tax relief and the Patent Box regime.

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Menzies

JULY 26, 2022

Menzies LLP - A leading chartered accountancy firm. Thinking of going freelance when you graduate, or started your own side business already, but don’t know what to do about tax? You may also need to pay additional ‘payments on account’ due by 31 st January and 31 st July annually. Making Tax Digital (MTD).

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Menzies

JANUARY 4, 2024

Menzies LLP - A leading chartered accountancy firm. This needs to be ramped up and extended quickly, to allow SMEs and UK government to reap the benefits sooner rather than later. billion in lost tax revenue a year, so there is further work to do. In the UK, e-invoicing is still very new. for 2021/22. for 2021/22.

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Going Concern

DECEMBER 1, 2023

The Australian understands this would be an unusual arrangement for PwC, with current and former partners saying partnership pay is usually disclosed within the firm. Chartered* accountancy? Chartered Accountancy. The combined firm will operate under the Dean Dorton name. And where was the fact-checker?

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Menzies

NOVEMBER 9, 2023

Menzies LLP - A leading chartered accountancy firm. Navigating Economic Constraints: Anticipating the UK Government’s Strategy in the Upcoming Autumn Statement Little Room to Manoeuvre: The chancellor appears to have little room to manoeuvre as interest rates are increasing the cost of servicing existing borrowing.

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Menzies

AUGUST 18, 2023

Menzies LLP - A leading chartered accountancy firm. As of 1 August 2023, the government has implemented a new, ‘simpler system’ which is expected to have a significant impact on producers, consumers and the hospitality industry. These businesses are allowed to use an ‘assumed strength’ of 12.5%

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Menzies

MARCH 20, 2023

Menzies LLP - A leading chartered accountancy firm. The Government seemed to back up their statement that they want to strengthen the UK’s position as a global science and technology power, but from their recent budget announcements, this was less evident. for qualifying R&D expenditure.

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Menzies

AUGUST 12, 2022

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

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Menzies

OCTOBER 5, 2022

Menzies LLP - A leading chartered accountancy firm. The government have now announced in the mini-budget that this limit will not revert to £200,000 as planned and, instead, will permanently stay at £1 million. ANNUAL INVESTMENT ALLOWANCE PERMANENTLY SET AT £1 MILLION.

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Going Concern

APRIL 7, 2023

PwC offers cutting edge AI technology with ContractPodAi [ ERP Today Magazine ] PwC has entered into an alliance with ContractPodAi, allowing the firm to offer a cutting edge AI-powered legal contract management platform. Castillo also took money to pay their taxes, but instead pocketed the money, Sellinger said. I can imagine it.

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