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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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 for
VAT Capital Goods Scheme
The VAT Capital Goods Scheme (CGS) is a means of spreading the initial VAT recovery in respect of certain assets over either 5 or 10 years. The scheme seeks to agree a fair and reasonable attribution of VAT to taxable
Help for businesses launching new AI
Organisations across the country will be able to demonstrate that their new artificial intelligence and digital innovations meet regulatory requirements so they can quickly bring them to market.
In their press release
Charity Trustees Quiz
The Charity Commission has launched the next phase of its trustee campaign which aims to increase charity trustees’ knowledge and drive a positive change in charities’ governance.
The campaign encourages trustees to
Change to Company Accounts filing
The Economic Crime and Corporate Transparency Bill has completed its initial journey through the House of Commons and the House of Lords and is now at the stage known as, consideration of amendments. This is where the
Activities subject to the scope of VAT
There are a number of conditions that must be satisfied for an activity to be within the scope of UK VAT.
An activity will fall within the scope of VAT when all the following conditions are met:
it is done for
Tax on incentive rewards
Companies may use incentive award schemes to encourage their employees in various ways. For example, to sell more of their own goods and services. The award can be in forms including cash, vouchers or other gifts.
Where
Utilising Capital Gains Tax losses
Usually, if you sell an asset for less than you paid for it you would make a capital loss. As a general rule, if the asset would have been liable to CGT had a gain taken place, then the loss should be an allowable
No gain – no loss transfers in groups of companies
There are special rules concerning the transfer of assets in groups of companies. In most cases, this means that where assets are moved around group companies, there are no immediate capital gains consequences. This
Repairs or replacement of business assets
The term ‘capital allowances’ is used to describe the allowances available to businesses to secure tax relief for certain capital expenditure. The rules that govern the purchase of capital equipment such as computer
Changes afoot at Companies House
Due to new legislation working its way through Parliament, Companies House will be making a number of significant changes. In a recent blog post, they made the following announcement:
We’re approaching a pivotal moment
What is a trust?
A trust is an obligation that binds a trustee, an individual or a company, to deal with assets such as land, money and shares which form part of the trust. The person who places assets into a trust is known as a settlor
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