Menzies

OCTOBER 21, 2022

Menzies LLP - A leading chartered accountancy firm. But they might be unaware that most of the cost of the refurbishment may be eligible for tax relief under the capital allowances regime. Consulting a tax professional for advice at an early stage will enable companies to get the information needed to make a successful claim.

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Menzies

APRIL 12, 2024

Menzies LLP - A leading chartered accountancy firm. Strategic divestments could help to raise the funds needed to invest, which may in turn help to minimise corporate tax liabilities by creating an opportunity to claim R&D tax relief.

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Menzies

JANUARY 18, 2024

Menzies LLP - A leading chartered accountancy firm. Read on to discover the strategic advantages of aligning the year end with peak profit periods to gain a cash flow advantage and to enable informed decision-making. When it comes to accounting year ends, most UK companies tend to fall into one of three categories.

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Menzies

JUNE 15, 2022

Menzies LLP - A leading chartered accountancy firm. Despite this growth in conducting cross-border transactions, the tax implications of such arrangements are all too often overlooked. Despite this growth in conducting cross-border transactions, the tax implications of such arrangements are all too often overlooked.

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Menzies

MARCH 1, 2023

Menzies LLP - A leading chartered accountancy firm. This can be particularly challenging in an LLP, as tax is paid by the members on the profits made, but then they may need to leave cash in the business. Dividends are usually preferential to salary from a personal tax perspective (see R&D below).

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Menzies

NOVEMBER 3, 2023

Menzies LLP - A leading chartered accountancy firm. HMRC have recently introduced measures to combat fraud within R&D, including lowering the SME tax relief and increasing compliance requirements, as Ant Lalsing details in his article here. HMRC can use their powers to ‘correct’ your company’s CT600 tax return.

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Menzies

MAY 10, 2022

Menzies LLP - A leading chartered accountancy firm. The relief is only available to companies subject to corporation tax. SMEs obtain an additional tax deduction of 130% of the qualifying R&D expenditure, meaning: Profitable companies paying tax. An SME who is tax paying will save £24.70

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Menzies

AUGUST 21, 2023

Menzies LLP - A leading chartered accountancy firm. This relief is temporary and will end on 31 March 2026 but for companies that take advantage of it will enable up to £250 of each £1,000 of capital spend to be recovered against their tax bill and so potentially significant tax savings are available.

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Menzies

FEBRUARY 27, 2023

Menzies LLP - A leading chartered accountancy firm. COP9 is relevant where HMRC either suspect, or the individual chooses to voluntarily disclose, that their deliberate action or inaction has led to an insufficient amount of tax being paid. How does the digital disclosure service work? Higher financial penalties.

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Menzies

APRIL 25, 2023

Menzies LLP - A leading chartered accountancy firm. Will activities constitute a corporate tax presence? UK-based businesses seeking to operate in the EU for the first time need to establish whether their activities will constitute a corporate tax presence – a ‘permanent establishment’.

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Menzies

SEPTEMBER 18, 2023

Menzies LLP - A leading chartered accountancy firm. Have you considered tax structuring and the impact of an acquisition to your existing tax regime (e.g. small to large company corporation tax regime)? However, before doing so, business owners need to consider a number of factors to ensure success.

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Menzies

SEPTEMBER 18, 2023

Menzies LLP - A leading chartered accountancy firm. Have you considered tax structuring and the impact of an acquisition to your existing tax regime (e.g. small to large company corporation tax regime)? However, before doing so, business owners need to consider a number of factors to ensure success.

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Menzies

MAY 11, 2023

Menzies LLP - A leading chartered accountancy firm. You have identified the new piece of equipment your business needs, it’s worth pausing to consider the best way to structure the purchase and tax can play an important role in the determining the best option for your business. –

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Menzies

MARCH 1, 2023

Menzies LLP - A leading chartered accountancy firm. The company pays corporation tax on its taxable profits (25% for companies with profits of £250k or more, from 1 April 2023), with the net profit left in the company’s reserves. The shareholders are then taxed on the distribution of the proceeds.

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Accounting Insight

AUGUST 9, 2023

Tax untangled – top tax Issues for 2023/24 Sharon Cook, Technical Director, 20:20 Innovation In this session, Sharon will will review two of the most topical and challenging changes in taxation that practitioners are grappling with right now: 1. For further information and to book your free ticket, please visit [link].

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Menzies

DECEMBER 6, 2023

Menzies LLP - A leading chartered accountancy firm. From the business owner’s perspective, the audit process can be viewed as an opportunity to gain insights and information about the business that may not have been obvious. The key to driving value from the audit process is enhancing the overall experience.

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Menzies

AUGUST 9, 2022

Menzies LLP - A leading chartered accountancy firm. While this appears to be a fast, immediate solution, there could be further reemployment issues and unintended tax ramifications because of an overreliance on overseas remote workers. R&D Tax Relief. Local taxes – Crouching taxes, hidden costs.

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Menzies

MARCH 6, 2023

Menzies LLP - A leading chartered accountancy firm. This means that the charge should only lead to additional tax for employers with a payroll bill of over £3 million. The levy payment is a deductible cost for corporation tax purposes. It is a levy of 0.5% WHAT happens to the APPRENTICESHIP LEVY paid?

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Menzies

AUGUST 8, 2022

Menzies LLP - A leading chartered accountancy firm. Although there is currently no tax regulation regarding NFTs from HMRC, it is vital to remember that all profits generated from trading NFTs must be declared for tax purposes. WHEN DO I NEED TO DECLARE NFT PROFITS AND HOW MUCH WILL I BE TAXED? What is an NFT?

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