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.
Gains on sale of shares
Capital Gains Tax (CGT) is normally charged at a simple flat rate of 20% (but see comments below) when you sell shares unless they are in a CGT free investment such as an ISA or qualifying pension. Your gain is usually
When you cannot use the Property or Trading Allowances
Two separate £1,000 tax allowances for property and trading income were introduced in April 2017. If you have both types of income highlighted below, then you can claim a £1,000 allowance for each.
The £1,000 exemptions
Responding to a personal data breach
The Information Commissioner’s Office has a simple guide that explains what you need to do in the 72 hours following a data breach.
The seven step approach advocated is set out below:
Step one: Don’t panic
It’s
The new Chancellor’s first speech
The Chancellor has promised to take immediate action to fix the foundations of the economy, rebuild Britain and make every part of the country better off.
In her first speech as Chancellor, Rachel Reeves pledged to
Restarting a dormant company
HMRC must be informed when a non-trading or dormant company restarts trading and becomes active for Corporation Tax purposes. Companies can use HMRC Online Services to supply the relevant information.
When a company
Are mega sized marshmallows zero-rated?
In the UK most basic food stuffs are zero rated. However, the definition of ‘basic’ is not straightforward and many of the foods are zero rated as a result of historical legislation dating back to the introduction of VAT
Business VAT responsibilities
The taxable turnover threshold that determines whether businesses should be registered for VAT is currently £85,000. Businesses with turnover below this level can also apply for a voluntary VAT registration.
Businesses
Labour win landslide election result
As had been widely predicted, the results at the polls have seen the Labour Party back in power after 14 years in opposition. Labour have swept into power with their second-largest majority whilst the Conservative Party
Company filing obligations
It is important that anyone responsible for the accounts and tax filing regime for private limited companies is aware of their obligations.
After the end of its financial year, a private limited company must prepare
Inheritance and tax
As a general rule, an individual who inherits property, money or shares is not liable to pay tax on the inheritance. This is because any Inheritance Tax (IHT) due should be paid out of the deceased’s estate before any
Exit plans
Exit can be seen as quitting, especially if the exit discussed is your business interests.
But actually, business exit planning is an essential part of general business planning. In some respects, it is the most
New government
Our new government, and in particular, Rachel Reeves, the new Chancellor, will be responsible for raising the funds that our new government requires to finance its activities.
The government has already declared that it
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