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What does the Manufacturing sector stand to gain from this Autumn Statement?

Menzies

Menzies LLP - A leading chartered accountancy firm. The Chancellor, Jeremy Hunt, has delivered his Autumn Statement to Parliament earlier, which includes 110 measures for growth across the board.

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Short-term thinking matters too

Menzies

Menzies LLP - A leading chartered accountancy firm. How can business owners construct a more durable business structure? Every organisation requires a strong plan to ensure its success and most business owners know that staying focused is vital to be able to deliver the long-term objectives.

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The VAT relief that can bite back!

Menzies

Menzies LLP - A leading chartered accountancy firm. Charities are entitled to claim relief from VAT when they construct new buildings. VAT legislation says that services supplied in the course of construction of a building which will be used solely for relevant charitable purposes are zero rated for VAT.

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Super-Deduction Replaced by Full-Expensing

Menzies

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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B2B Payment Terms In Flux Amid Market Volatility

PYMNTS

While the move was welcomed, Construction Products Association Economics Director Noble Francis told the publication that it is unclear how the government would enforce this, and raised concerns that the construction sector is particularly vulnerable to the consequences of late payments.

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Is it time for a rethink of the capital allowances system?

Menzies

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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The UK’s energy crisis set to continue

Menzies

Menzies LLP - A leading chartered accountancy firm. In September 2021, the construction of a new 1,200-kilometre undersea gas pipeline was completed. The UK’s energy market has been plunged into chaos following soaring energy prices which has caused several energy companies to collapse, with fears that there are more to come.