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.
We are unpaid tax collectors
Clients often refer to the VAT added to supplier invoices as if it were a cost to their business regardless of their VAT position.
This is true if you are not registered for VAT, you do not have to add VAT to your sales
What a tax code means
The letters in your tax code signify your entitlement (or not) to the annual tax free personal allowance. The tax codes are updated periodically and help employer’s work out how much tax to deduct from an employee’s pay
Tax-free child care
HMRC is reminding parents that they may be eligible for Tax-Free Childcare (TFC) to help pay for Easter school holidays childcare costs.
The TFC scheme can help parents of children aged up to 11 years old (17 for those
Declare a beneficial interests in joint property
The usual tax position for couples who live together with their spouse or civil partners is that property income held in joint names is divided 50:50. This is regardless of the actual ownership structure. However, where
Check your National Insurance record
There is an online service available on HMRC to check your National Insurance Contributions (NIC) record online. The service is available at https://www.gov.uk/check-national-insurance-record
In order to use this
Workplace pension responsibilities
Automatic enrolment for workplace pensions has helped many employees make provision for their retirement, with employers and government also contributing to make a larger pension pot.
The law states that employers must
Invest and save tax
The Annual Investment Allowance (AIA) is a generous tax relief that allows for the total amount of qualifying expenditure on plant and machinery to be deducted from your profits before tax.
The AIA can be claimed by an
Apprenticeships boost
From the start of April 2024, the government will increase the amount of funding that employers who are paying the apprenticeship levy can pass onto other businesses. Apprenticeships can currently be funded by a levy
Customs Declaration Service open for business
All businesses can now move their export declarations to the Customs Declaration Service (CDS), HMRC has confirmed.
Businesses who have yet to move their export declarations to CDS will have a transition period to move
Company confirmation statement changes
As well as filing accounts with Companies House, there is an important requirement to check that the information Companies House has about your company is correct every year. This is facilitated by the filing of an
Eligibility for replacement of domestic items relief
The replacement of domestic items relief enables landlords to claim tax relief when they replace movable furniture, furnishings, household appliances and kitchenware in a rental property. The allowance is available based
Tax Diary April/May 2024
1 April 2024 – Due date for corporation tax due for the year ended 30 June 2023.
19 April 2024 – PAYE and NIC deductions due for month ended 5 April 2024. (If you pay your tax electronically the due date is 22 April
See how we can help
From Payroll and Bookkeeping to VAT and Corporation Tax, your perfect accountant is right here – giving you the fast, efficient and friendly support you need.