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Finance Directors’ Tax Toolkit

Menzies

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.

Finance 52
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New rules for the submission of R&D tax relief claims

Menzies

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.

Tax 52
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Tax Considerations For Office Refurbishments

Menzies

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. Claims made after this will have a greatly decreased return. What’s in the Main pool? Structural and Building Allowance.

Tax 52
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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. Making Tax Digital (MTD).

Tax 52
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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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HMRC information notices – Schedule 36 FA 2008

Menzies

Menzies LLP - A leading chartered accountancy firm. To allow HMRC to check that the correct amounts of tax have been paid by taxpayers, they have been afforded formal legal powers to request information and documents from taxpayers. a notice issued to a taxpayer about their own tax affairs), or a Third-party notice (i.e.

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Understanding Tax Savings for UK Tech Firms

Menzies

Menzies LLP - A leading chartered accountancy firm. Understanding the differences between the available allowances is crucial for enhancing tax savings and bolstering cash flow, particularly in the early stages of a tech enterprise, where capital investments may be significant.