Autumn Budget 2024: Essential tax rates and thresholds
Oct 30, 2024 · Rebecca Cave compiles a guide to the main tax rates and allowances updated in the Autumn Budget, showing the main changes that were announced on 30 October 2024
FRS 102: The new lease accounting treatments | AccountingWEB
Aug 13, 2024 · On-balance sheet lease accounting. The FRC has aligned FRS 102, Section 20 Leases to IFRS® 16 Leases, albeit with additional simplifications and practical expedients to allow the new treatments to be proportionate to private entities.. Under the new recognition and measurement principles, a lessee will no longer distinguish between a finance lease and an operating lease.
Moneysoft - AccountingWEB
Payroll Manager is a comprehensive, easy to use, HMRC recognised for 2019-20 RTI compliant payroll software package used by thousands of SME’s, agents, accountants and CIS Contractors across the UK. In the first 6 months of the tax year 2018-19, more than 1.5 million RTI submissions were successfully filed through our software.Features to support …
HMRC’s agent code request sparks confusion | AccountingWEB
Oct 11, 2024 · Previously, agents had until 8 November to provide details. However, HMRC’s original request was beset by confusion after the email led some agents - including many readers on Any Answers - questioning whether it was a genuine email.
Deferred tax: Get the details right - AccountingWEB
Dec 7, 2021 · FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland deals with deferred tax in Section 29 Income Tax.For micro-entities choosing to prepare financial statements under FRS 105 The Financial Reporting Standard applicable to the Micro-entities Regime, deferred tax is irrelevant.. FRS 102 requires deferred tax to be recognised on all timing differences that have ...
Reverse-charge VAT rule is flipping confusing - AccountingWEB
Nov 30, 2023 · 2. Reverse charge relating to services – purchases from suppliers. When a UK business is receiving a service from overseas, if VAT-registered, the business takes the net figure on the invoice and treats it as both a sale and a purchase, the net figure going into Boxes 6 and 7.
Different types of company shares: A quick guide
Oct 14, 2022 · Company shares are not a one-size-fits-all thing and will come under several different share classes. As long as due process is followed, and subject to any restrictions in its articles of association, new share classes can be created by companies at any time.
New alcohol duty rules and the price of a pint | AccountingWEB
Jul 7, 2023 · Revised Alcohol Duty From 1 August 2023, the new system aims to simplify and broadly increases the tax as the alcoholic content rises. Different rates will apply to products between 3.5% abv and 8.4% abv. The new rates can be found on Gov.uk here, as well as the rates for draught relief.. Examples based on the new system (post 1 August 2023)
Striking off a company: Get the details right | AccountingWEB
May 14, 2019 · Most private companies have a nominal capital of £100 or less but as an example, where the company has share capital of £10,000 and distributable reserves of £30,000 then the share capital will be subject to the CGT regime, but as the £30,000 exceeds the £25,000 limit then the whole £30,000 will be subject to income tax.
Time to focus on the associated company rules - AccountingWEB
Mar 10, 2023 · From 1 April 2023, we will no longer have the simplicity of a single corporation tax rate, but instead be back to the position last seen in 2015 of juggling two rates and marginal relief.