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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Using your vehicle for work related journeys
If you use your car or other vehicle to undertake business journeys on behalf of your employer, and your employer does not:
Fully reimburse you for the business use, or
Reimburses you but at a lower rate per mile
Setting up a payment plan with HMRC
The 31st of January is a key date for those of us who are registered for self-assessment. There are three deadlines:
The closing date to file your 2022-23 tax return without incurring an initial £100 late filing
Do you need to register for VAT in 2024?
The taxable turnover threshold that determines whether businesses should be registered for VAT is currently £85,000. The taxable turnover threshold that determines whether businesses can apply for deregistration is
Utilise your 2023-24 IHT reliefs
We wanted to remind you of the Inheritance Tax (IHT) implications of making cash gifts during the current 2023-24 tax year that will end on 5 April 2024.
You can give away up to £3,000 worth of gifts each tax year. This
What happens if your income exceeds £100K 2023-24?
If you earn over £100,000 in any tax year your personal allowance is gradually reduced by £1 for every £2 of adjusted net income over £100,000 irrespective of age. This means that any taxable receipt that takes your
Flat Rate Scheme annual review
If using the VAT Flat Rate scheme, businesses pay VAT as a fixed percentage of their VAT inclusive turnover. The actual percentage used depends on the type of business. The scheme has been designed to simplify the way a
Scottish Budget 2024-25
Scotland’s Deputy First Minister and Finance Secretary, Shona Robison delivered her first Budget statement to the Scottish parliament on 19 December 2023.
The Finance Secretary said that the ‘Managing the cumulative
Welsh Budget 2024-25
The Welsh draft Budget for 2024-25 was published on 19 December 2023. The Budget sets out the Welsh government’s revenue and capital spending proposals, including detailed portfolio spending plans.
There have been no
Spring Budget 2024
The Chancellor of the Exchequer, Jeremy Hunt has confirmed that the next UK Budget will take place on Wednesday, 6 March 2024. This will be the Chancellor’s second Budget and will include the government’s tax and
Be wary of rogue business rates agents
The government Valuation Office Agency have issued the following warning to business owners who may have received unprompted approaches by an agent offering to negotiate a reduction in their business rates bill.
The
Claiming relief for work related expenses
If your employer has reimbursed you in full for any work related expenses you will obviously be unable to make a claim for tax relief for those same expenses.
But if you have only received part of your expenses or none
Tax and duties on goods sent from abroad
There are special rules to ensure that goods sent from abroad are taxed appropriately and to ensure that UK businesses supplying goods in the UK – for example by having to compete with VAT free imports – are not
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