article thumbnail

Autumn Budget 2024 Commentary: Manufacturing

Menzies

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. A key theme of today’s budget was “Invest, Invest, Invest!” with the intention of driving economic growth.

article thumbnail

AICPA News – July 2025

CPA Practice

Ujjwal Ahluwalia (Montana), a graduate of University of Delhi with a Bachelor of Commerce (Honors), and a Chartered Accountant from The Institute of Chartered Accountants of India, is employed with American Express in Gurugram, India. accounting and finance industry. Partnership Tax TRP Remove Treas.

cpas 85
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Case study: Touchlight Genetics Limited

Menzies

Menzies LLP - A leading chartered accountancy firm. The nature of Touchlight’s business means they have to constantly fund development and achieving the most efficient tax outcomes is of great importance. Using their patented enzymatic DNA production platform, they can support their partners that are advancing genetic medicine.

article thumbnail

Sale and leaseback arrangements in the Shipping industry

Menzies

Menzies LLP - A leading chartered accountancy firm. Tax Advice Evaluate capital gains tax, VAT, and corporation tax implications. Consider tax-efficient structuring of sale and lease payments. Address any differences between tax treatment and accounting treatment of the transaction.

Sales 52
article thumbnail

Are Hotel Businesses optimising their cashflow benefits?

Menzies

Menzies LLP - A leading chartered accountancy firm. Full Expensing 100% No threshold Only available to companies subject to UK corporation tax Assets must be new and unused and not acquired via finance lease or subsequently leased out. 2025 is proving to be a challenging year for hotel businesses.

article thumbnail

Navigating the UK tonnage tax regime

Menzies

Menzies LLP - A leading chartered accountancy firm. Tonnage tax Access our shipping page Contact us The UK tonnage tax (TT) regime is an alternative tax regime which, if elected into, enables the taxable profits of qualifying companies to be calculated in a different way to the normal UK corporation tax regime.

Tax 52
article thumbnail

Act now to mitigate the increase in the corporate tax rate

Menzies

Menzies LLP - A leading chartered accountancy firm. From 1 April 2023, the corporation tax rate will be increasing from 19% to 25% for companies with taxable profits over £250,000. Companies with taxable profits of less than £50,000 will continue to pay tax at 19%. Should you shorten your accounting period?