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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.

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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.

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HMRC’s Transformation Roadmap

Menzies

Menzies LLP - A leading chartered accountancy firm. In July 2025, HMRC published their Transformation Roadmap explaining how they plan to meet the Government’s vision to modernise the UK tax systems to free up time for businesses to focus on growth. This information will then automatically prepopulate on tax returns.

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Have you received an HMRC nudge letter about filing ATED returns?

Menzies

Menzies LLP - A leading chartered accountancy firm. HMRC have an ongoing campaign to tackle non-compliance connected with offshore corporate entities owning UK property, and we are seeing an increase in this activity in 2024. What is ATED?

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Finance Directors’ Tax Toolkit

Menzies

Menzies LLP - A leading chartered accountancy firm. Business Tax Tax returns and iXBRL tagging Completion of corporate tax returns and electronic tagging is a necessary but administrative burden and ensuring that the correct amount of tax is paid and that available tax reliefs are maximised can be a complex process.

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What do I do if HMRC check my R&D claim?

Menzies

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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Dear Graduate… Don’t let your next steps be taxing!

Menzies

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. What’s useful to know?

Tax