Blog
Welcome to the accountancy blog from ZincBooks
We love to share the latest news, views and advice with our clients and the weekly blog gives us the ideal opportunity to do this.
Feel free to get in touch with us if you wish to discuss any of the blog topics in more detail.
ZincBooks are proactive accountants that offer fantastic services to both companies and individuals. If you are looking for something more than a traditional accountancy service then why not get in touch with us today.
Employing an apprentice
There are special rules to observe when employing an apprentice in the UK. Basically, an apprentice takes part in a structured training program that combines working with studying. Apprentices gain practical experience
MTD for Income Tax draws closer
The mandatory rollout of Making Tax Digital for Income Tax (MTD for ITSA) is scheduled to begin in April 2026. The process will significantly adjust how businesses, self-employed individuals, and landlords engage with
Myths about self-assessment
In a recent press release, HMRC addressed some common misconceptions about who needs to file a self-assessment return before the 31 January 2025 deadline and clarifies some of the most widespread myths.
The press
Beware overtrading
Overtrading occurs when a business expands its operations at a pace that exceeds its available working capital and financial resources. This can happen when a company takes on more business than it can sustain without
Ask for advice
Asking your accountant for advice offers a range of benefits, particularly in guiding both business and personal financial decisions. Here are some key advantages:
Expert Financial Guidance
Accountants are trained
Tax Diary October/November 2024
1 October 2024 – Due date for Corporation Tax due for the year ended 31 December 2023.
19 October 2024 – PAYE and NIC deductions due for month ended 5 October 2024. (If you pay your tax electronically the due date is 22
Qualifying for Business Asset Disposal Relief
Business Asset Disposal Relief (BADR) applies to the sale of a business, shares in a trading company, or an individual’s interest in a trading partnership. When this relief is available, a reduced Capital Gains Tax (CGT)
Penalties for late filing of company accounts
There are late filing penalties which are designed to encourage companies to file their accounts and reports on time. All companies, private and public, large or small, trading or non-trading must send their accounts to
Present self-employed NIC rates
Most self-employed people are required to pay Class 4 National Insurance contributions (NICs) if their profits are £12,570 or more a year. Class 4 NIC rates for the tax year 2024-25 are 6% for chargeable profits between
Self-assessment deadlines 2023-24
The deadline for submitting paper self-assessment tax returns for the 2023-24 tax year is 31 October 2024. If the return is submitted late, a £100 penalty will be imposed, regardless of whether there is a tax liability
Employing under 16-year-olds and young workers
When a new employee is added to the payroll it is the employers’ responsibility to ensure they meet the employees’ rights and deduct the correct amount of tax from their salary. This includes any employees who are family
Claiming Child Trust Fund cash
If you turned 18 on or after 1 September 2020, there may be cash waiting for you in a dormant Child Trust Fund (CTF).
If your children recently turned 18 you should check to see if they have claimed the money, to which
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