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.
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Tax Diary January/February 2025
1 January 2025 – Due date for Corporation Tax due for the year ended 31 March 2024
19 January 2025 – PAYE and NIC deductions due for month ended 5 January 2025. (If you pay your tax electronically the due date is 22
The Likely Effects of Employers’ NIC Increases in 2025
The upcoming increase in Employers’ National Insurance Contributions (NICs) is set to have significant repercussions for UK businesses. Employers’ NICs are essentially a tax on wages, paid by businesses as a percentage
Fuel prices report by Competition and Markets Authority (CMA)
Fuel margins of retailers – the difference between what a retailer pays for its fuel and what it sells at – remain around the high levels seen during the CMA’s road fuel market study.
Supermarket fuel margins increased
Changes to CGT Investors’ Relief
The rate of Capital Gains Tax (CGT) for Investors’ Relief will rise from 10% to 14% for disposals made on or after 6 April 2025. It will then increase further to 18% for disposals made on or after 6 April 2026.
Seven year rule still applies – IHT PETs
There are specific rules regarding the liability to Inheritance Tax (IHT) on gifts made during a person’s lifetime. In most cases, gifts made during a person’s life are not taxed at the time they are given.
These
Gifts of land and buildings to charities
There are special rules in place for taxpayers who make gifts of land and buildings to charity. This can include Income Tax and Capital Gains Tax (CGT) relief provided all the necessary conditions are met. There are also
Approaching the VAT registration threshold
When approaching the VAT registration threshold there are important matters to consider. The VAT registration threshold is the point at which businesses must register for VAT with HMRC.
A business must register for VAT
Landlords with undeclared Income
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
How Council Tax is calculated
To calculate your Council Tax, you need to know the following:
The valuation band of your property in England, Wales, or Scotland
The amount your local council charges for that band
Whether you qualify for a
What does EBITDA stand for?
EBITDA stands for Earnings Before Interest, Taxes, Depreciation, and Amortisation. It’s a widely used financial metric that provides a measure of a company’s operating performance, excluding the effects of financing,
What are your concerns?
According to the Office for National Statistics as of October 2024, the primary concerns among individuals in the UK are:
National Health Service (NHS): 85% of adults identified the NHS as a significant issue,
Close company anti-avoidance measure
As part of the Autumn 2024 Budget measures, the government introduced new anti-avoidance provisions to prevent the abuse of the existing close company anti-avoidance rule. The measure will have effect for any tax
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