Menzies

APRIL 4, 2024

Menzies LLP - A leading chartered accountancy firm. Prepare for a transformative shift in the hospitality industry as new legislation is set to revolutionise tip handling from this summer. In this article, we explore the anticipated challenges for Hospitality and Leisure employers, with tips on how to prepare for the change.

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Going Concern

JUNE 8, 2023

It appears the Institute of Chartered Accountants in England and Wales (ICAEW) has finally pushed Sheffield University’s Richard Murphy over the edge. The Professor of Accounting Practice at Sheffield’s Management School issued a new report chastising the group for hoarding funds. In 2019, the FRC fined PwC £4.55

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Menzies

JANUARY 7, 2024

Menzies LLP - A leading chartered accountancy firm. If you find in this time of uncertainty that you are unable to pay your self assessment income tax liability, there is help at hand. How you contact HMRC will depend on how much tax you have to pay (see below). Once you are happy please complete the process.

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Menzies

MARCH 17, 2023

Menzies LLP - A leading chartered accountancy firm. The struggles surrounding the Hospitality and Leisure industry are being amplified by the current cost of living crisis as well as the seemingly everlasting effects of the Coronavirus pandemic.

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Menzies

NOVEMBER 30, 2022

Menzies LLP - A leading chartered accountancy firm. This includes plans to freeze the business rates multiplier for another year, and to provide additional relief of up to 75% for retail and hospitality and leisure companies. Alterations To R&D Tax Incentives. Costly Changes To Dividends And Capital Gains Tax.

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Menzies

OCTOBER 5, 2022

Menzies LLP - A leading chartered accountancy firm. Businesses can now plan their expenditure around their available cash flow and still be confident that they will receive this generous tax relief. ANNUAL INVESTMENT ALLOWANCE PERMANENTLY SET AT £1 MILLION.

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Menzies

MAY 12, 2022

Menzies LLP - A leading chartered accountancy firm. The recent reinstatement of a 20% VAT rate is likely to cause severe financial difficulty for many hospitality and leisure (H&L) businesses at a time when costs are rising and many enterprises are still recovering from COVID lockdowns and restrictions. FUTURE THINKING.

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Menzies

FEBRUARY 1, 2023

Menzies LLP - A leading chartered accountancy firm. Menzies were appointed as his accountants and business advisors. Menzies continue to mentor the client offering strategic business and tax advice as well providing accountancy services and look forward to enjoying many more annual corporate events, hosted by our client.

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Menzies

FEBRUARY 7, 2023

Menzies LLP - A leading chartered accountancy firm. With HMRC’s ‘Making Tax Digital’ initiative on the horizon, we’ve been working with clients to design and implement complete end-to-end accounting solutions that take these imminent changes into account. So how can you overcome this potential business pitfall?

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Menzies

DECEMBER 6, 2023

Menzies LLP - A leading chartered accountancy firm. For example, legal invoices might show intellectual property assets, that could’ve been leveraged using Patent Box Relief to reduce the client’s corporation tax liability.

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Menzies

FEBRUARY 10, 2023

Menzies LLP - A leading chartered accountancy firm. The aggregation of marginal gains – aka the 1% rule The theory is that by making small increases or changes to one, two or even three key areas in a business the positive impact on a company’s profit and loss account can be substantial.

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Menzies

DECEMBER 19, 2023

Menzies LLP - A leading chartered accountancy firm. One of the main reasons for this lack of detailed analysis often comes down to the purpose of SME record keeping; primarily to ensure compliance with tax and statutory obligations.

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Menzies

NOVEMBER 2, 2023

Menzies LLP - A leading chartered accountancy firm. However, we often observe that businesses fail to maximise tax allowances which can result in a decrease in profits and cashflow. Result: Tax allowances maximised, easier access to investment funds, strategic growth Challenge No. Challenge No.

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Menzies

JULY 27, 2023

Menzies LLP - A leading chartered accountancy firm. This could mean that, additional shifts worked by consultants over a year to assist their employing hospital deal with peak admissions, would result in a large tax bill. Previously when the excess was taken as a lump sum, the tax was charged at a rate of 55%.

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Menzies

FEBRUARY 6, 2023

Menzies LLP - A leading chartered accountancy firm. But in the UK somebody is diagnosed with cancer every 2 minutes and someone is admitted to hospital with a heart attack every 5 minutes. Critical Illness insurance – What is it? Critical Illness insurance – What is it?

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