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.
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Changes to Scottish Income Tax rates 2024-25
A reminder of the changes to Scottish Income Tax rates for the 2024-25 tax year. It was announced as part of the Scottish Budget measures that a new tax band called the advanced rate band will apply a 45% tax rate on
Taxable employment benefits from April 2026
From April 2026, the government will mandate the reporting and paying of Income Tax and Class 1A National Insurance Contributions on benefits in kind via payroll software. This represents a significant change to the
Tax Diary May/June 2024
1 May 2024 – Due date for corporation tax due for the year ended 30 July 2023.
19 May 2024 – PAYE and NIC deductions due for month ended 5 May 2024. (If you pay your tax electronically the due date is 22 May 2024).
19
Settling energy disputes
Business owners that are in dispute with their energy suppliers will be interested in the free support on offer from the Energy Ombudsman.
In a recent press release the Department for Energy Security and Net Zero
COVID Bounce Back abuse
The Insolvency Service has recently published information confirming that a total of 831 company directors were banned in 2023-24 for Covid support scheme abuse, up more than 80% on the previous year, and that the
HMRC continues to target till fraud
HMRC has, for many years, looked to target businesses that deliberately undertake electronic sales suppression (ESS). ESS happens where a business deliberately manipulates its electronic sales records in order to hide or
Using the starter PAYE checklist
Employers that take on a new employee need to work out which tax code and starter declaration to use in their payroll software. Incorrect tax codes can lead to a new employee paying more tax than is due.
Employers will
Accessing the HMRC mobile APP
HMRC’s free tax app is available to download from the App Store for iOS and from the Google Play Store for Android. The latest version of the app includes updated functionality.
The app can be used to see:
your tax
Termination payment clearance process
The tax treatment of termination payments has changed significantly over recent years. The changes have aligned the rules for tax and secondary National Insurance contributions (employer (NICs)) by making an employer
VAT retail schemes
VAT retail schemes are a special set of schemes used by retail businesses to account for VAT. The schemes are used by businesses that sell a significant amount of low value and/or small quantity items to the public with
Paying VAT on goods from EU to Northern Ireland
There are special procedures for moving goods in and out of Northern Ireland. Under the Northern Ireland Protocol, all Northern Ireland businesses continue to have access to the whole UK market.
There is specific
New employment protections
New legislation, including three Government backed cross party Acts, came into force from 6 April 2024.
Pregnant women and new parents will now receive special treatment in a redundancy situation, as a suite of new laws
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