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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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Spring Budget 2024 – NIC changes
As had been widely expected, the Chancellor announced further changes to National Insurance contributions (NIC) rates for employees and the self-employed.
There will be a further 2% cut in the main rate of Employee
Spring Budget 2024 – non-dom changes
In a move that may partly have been prompted by seeking to mirror a longstanding policy of the Labour party, the Chancellor has announced that the generous non-dom rules are to be axed.
From April 2025, the government
Budget summary 6 March 2024
As expected, the Chancellor has found wriggle room in his fiscal rules that have allowed him to please his fellow Conservatives by reducing the impact of taxation. Not an unfamiliar tactic for a government in a general
Pension fund reforms
The Chancellor announced pension fund reforms as a further step in the government’s plan to boost British business and increase returns for savers. This includes requirements for Defined Contribution (DC) pension funds
Companies House rolls-out new powers
The first measures under the Economic Crime and Corporate Transparency Act 2023 (ECCT Act) came into force on Monday 4 March 2024.
Changes introduced include:
greater powers to query information and request
Update on the tax status of Double Cab Pick Ups
HMRC had published an update, on 12 February 2024, on the tax status of Double Cab Pick Ups (DCPUs), following a 2020 Court of Appeal judgment. The update announced that effective from 1 July 2024, DCPUs with a payload
Companies House filing fees increase
Companies House has announced that some of their fees will be changing from 1 May 2024. The last change in fees was April 2016.
The fees have been calculated on a ‘cost recovery’ basis meaning that the fees are
Contractors and CIS
The Construction Industry Scheme (CIS) is a set of special rules for tax and National Insurance for those working in the construction industry. Businesses in the construction industry are known as ‘contractors’ and
Appeals against tax penalties
It is not unusual for taxpayers to find themselves in a position where they disagree with a tax decision issued by HMRC. There are a number of different options open to taxpayers seeking to use the review and appeals
Holiday Lets averaging election
The furnished holiday let (FHL) rules allow holiday lettings of properties that meet certain conditions to be treated as a trade for tax purposes.
In order to qualify as a furnished holiday letting, the following
Advise HMRC if company is dormant
If a company has stopped trading and has no other income, then the company is usually classed as dormant for Corporation Tax purposes.
A company is usually dormant for Corporation Tax if it:
has stopped trading and
A new champion for small businesses appointed
An experienced entrepreneur has taken up a key role to promote the needs of small businesses to government and ensure suppliers seize the benefits of the Procurement Act.
Shirley Cooper OBE, former chair and president
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