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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Gifts and Inheritance Tax
Most gifts made during a person’s lifetime are not subject to tax at the time of transfer. These gifts, known as "potentially exempt transfers" (PETs), can become fully exempt if the donor survives for more
Current rates for Capital Gains Tax (CGT)
CGT is generally charged at a flat rate of 20% on most chargeable gains for individuals. However, if taxpayers are within the basic rate tax bracket and make a small capital gain, they may be eligible for a reduced CGT
What is fiscal drag?
The freezing of tax thresholds often leads to a phenomenon known as fiscal drag. When tax thresholds remain unchanged, taxpayers will likely pay more tax as their earnings rise without a corresponding increase in
Redundancy pay and tax
There is a tax-free limit of £30,000 for redundancy pay regardless of whether it is your statutory redundancy payment or a higher payment from your employer.
If you have been employed for two years or more and are made
VAT group registration
There are special VAT rules that allow two or more companies or limited liability partnerships, commonly referred to as ‘bodies corporate’, to be treated as a single taxable person for VAT purposes known as a VAT
Business cashflow
The government offers the following information regarding business cashflow.
If you do not have enough money coming in to pay for goods, services and taxes your company has, you are at risk of insolvency.
Why is
What is fuel duty?
The Office for Budget Responsibility (OBR) has offered the following explanation:
“Fuel duties are levied on purchases of petrol, diesel and a variety of other fuels. They represent a significant source of revenue
Is there a partnership in place?
A partnership is a reasonably straightforward way for two or more legal persons to establish and operate a business with the intent to make a profit. Partnerships can take various forms, and legal entities other than
Two October self-assessment deadlines
The deadline for submitting paper self-assessment tax returns for the 2023-24 tax year is 31 October 2024. Late submission of a self-assessment return will generate a £100 late filing penalty. The penalty usually applies
Pension Credit action week
Pension Credits can provide extra income to those over State Pension age and on a low income. The Department for Work and Pensions (DWP) recently launched a Pension Credit action week to boost take-up of this vital
Fraudsters impersonating Insolvency Service staff
The Insolvency Service is a government agency that provides services to those affected by financial distress or failure by seeking to tackle financial wrongdoing and maximising returns to creditors. The Insolvency
Don’t miss out on Home Responsibilities Protection
HMRC together with the Department for Work and Pensions (DWP) have issued a press release urging tens of thousands of people to check if they are eligible to boost their State Pension utilising Home Responsibility
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