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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HMRC launches VAT registration tool
A new digital VAT registration tool has been launched by HMRC that can be used to help businesses work out the effects of registering for VAT.
The launch of the tool known as the VAT Registration Estimator came about
What qualifies for IHT Business Relief
There are several types of reliefs from Inheritance Tax (IHT), one of which is IHT Business Relief. This can be a significant tax benefit for those with business interests, potentially offering either 50% or 100% relief
Review your State Pension estimate
You can access the Check Your State Pension forecast service on GOV.UK via this link: https://www.gov.uk/check-state-pension. This digital service is provided jointly by HM Revenue and Customs (HMRC) and the Department
Sharing your home with tenants
If you have tenants in your home there can be Capital Gains Tax (CGT) consequences. Generally, there is no Capital Gains Tax (CGT) on a property used as the main family residence, thanks to a relief known as Private
Government to deal with £22bn “black hole” in finances
The new Chancellor of the Exchequer, Rachel Reeves, delivered her widely anticipated House of Commons statement on 29 July 2024. The Chancellor asserted that the new government has inherited a £22bn hole in the public
First interest rates cut in over four years
The Bank of England’s Monetary Policy Committee (MPC) met on 1 August and in a very close 5-4 vote decided to reduce interest rates by 25 basis points to 5%. The 4 remaining members voted to keep the rate at 5.25%.
This
Using the VAT Annual Accounting Scheme
The VAT Annual Accounting Scheme is available to most businesses with an annual turnover of up to £1.35 million. Key benefits of the scheme include the obligation to file just one VAT return per year, which can greatly
Tax Diary September/October 2024
1 September 2024 – Due date for corporation tax due for the year ended 30 November 2022.
19 September 2024 – PAYE and NIC deductions due for month ended 5 September 2024. (If you pay your tax electronically the due date
Labour market stats not encouraging
The number of people classed as economically inactive has spiraled to 9.4 million.
Data published by the Office for National Statistics (ONS) shows the percentage of people employed has fallen to 74.4%, while a near
AI expert to lead action plan
New UK Science Secretary, Peter Kyle, has put Artificial Intelligence or AI at the heart of the government’s agenda to deliver change, sustained economic growth and improved public services.
The Secretary of State has
Register for VAT One Stop Shop Scheme
The VAT Import One Stop Shop (IOSS) Scheme applies to goods imported in consignments with a value of £135 or less (known as low value goods) from countries outside the EU and Northern Ireland, to consumers in the EU,
Let Property Campaign
The Let Property Campaign provides landlords who have undeclared income from residential property lettings in the UK or abroad with an opportunity to regularise their affairs by disclosing any outstanding liabilities
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