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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.
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Autumn Budget 2024 – Higher rates of SDLT
It was announced as part of the Budget measures that the higher rates of Stamp Duty Land Tax (SDLT) on purchases of additional residential properties will increase to 5% (from 3%) for transactions with an effective date
Autumn Budget 2024 – Minimum Wage increases
The Chancellor of the Exchequer, Rachel Reeves announced significant increases to the Minimum Wage rates on the eve of the Budget. The Chancellor confirmed that the government has accepted in full the proposals of the
Budget summary 30 October 2024
The long awaited, much anticipated and dreaded first Budget of the new Labour government was delivered to Parliament today – 30 October 2024 – by the Chancellor, Rachel Reeves.
We now know where the funds will come from
Is Income Tax morphing into a stealth tax?
It is rumoured that the Chancellor will delay any increase in the Income Tax higher rate tax threshold beyond the present April 2028 freeze.
The UK Income Tax higher-rate threshold was last increased in April 2021, when
Crackdown on insurance fraud
Insurance companies have united to step up efforts to crack down on fraudsters seeking to manipulate the UK insurance market with bogus claims and duping innocent people into buying fake insurance policies.
In 2023
HMRC shares 5 common reasons for helpline calls
There are a little over three months remaining to file your self-assessment tax return online for 2023-24. The deadline is 31 January 2025. As this date approaches, an increasing number of individuals are reaching out to
Changing a company’s year end date
There are specific rules that restrict changing a company’s year-end date, also known as the "accounting reference date". Initially, this is based on the date of incorporation. Under certain conditions, it’s
Take goods with you to sell abroad
There are specific customs requirements for commercial goods that you take with you to sell abroad. You must declare any goods intended for sale outside the UK, whether they are in your baggage or a private vehicle.
The
VAT recovery from car leasing payments
The VAT treatment of motor expenses is an important concern for any business that incurs VAT on these costs. Below, we highlight key points to consider regarding the recovery of input tax (VAT) when leasing vehicles.
We
Changing your tax return
If you have submitted a self-assessment return and later realise you need to make changes, there are specific rules to follow. This situation might arise if, for instance, you entered a number incorrectly or omitted
Due date for paper self-assessment tax return
A final reminder that the 2023-24 tax return deadline for taxpayers who continue to submit paper self-assessment returns is 31 October 2024. Late submission of a self-assessment return will incur a £100 late filing
Recent speculation on forthcoming Budget
There is unlikely to be much to celebrate when Rachel Reeves delivers her first Budget on the 30th of October.
Speculation is rife regarding the likely targets for tax increases. We have listed a few of the more
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