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.
ZincBooks are proactive accountants that offer fantastic services to both companies and individuals. If you are looking for something more than a traditional accountancy service then why not get in touch with us today.
What is a business repair?
HMRC’s internal manuals provide some useful information on the definition of a business repair. This is important because it is required to identify the asset on which work has been carried out.
This is because:
the
Cost of living payments
You may have been entitled to a Cost of Living Payments of £301 (paid April/May 2023) and should be about to receive £300 (payable early November 2023) and a further £299 due spring 2024. Payments are limited to persons
Trusts and Income Tax
A trust is an obligation that binds a trustee, an individual or a company to deal with the trust assets, such as land, money and shares, and which form part of the trust. The person who places assets into a trust is
Paying tax by direct debit
One of the many ways that payments can be made to HMRC is by using a direct debit. The direct debit can be set up online.
You can pay your tax bill using direct debit if you have an online account with HMRC
Filling gaps in National Insurance record
National Insurance credits can help qualifying applicants to fill gaps in their National Insurance record. This can assist taxpayers to build up the number of qualifying years of National Insurance contributions and
Current State Pension age
The second review of the State Pension age has been published by the Department for Work and Pensions. The State Pension age is currently 66. The review has stated that a further increase in the State Pension age to 67
Do you need to pay tax when you sell your home?
In general, there is no Capital Gains Tax (CGT) when you sell your home. This applies to a property which has been used as the main family residence. An investment property which has never been used as your own home does
Taxable gains on gifts
Gift Hold-Over Relief is a tax relief that effectively defers Capital Gains Tax (CGT). The relief can be claimed when assets are given away (including certain shares) or sold for less than they are worth to help benefit
Back of an envelope
If you run a business and manage your planning by scribbling notes on the back of an envelope, you might be advised to read the contents of this article.
When the economy is vibrant, effectively when there are an
Cash flow v supplier credit limits
In a recent article we explained how granting lengthy credit limits to customers was as good as letting them keep your money in their bank account.
In this post we describe the opposite situation, where you are granted
Loss of personal tax allowance
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
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
See how we can help
From Payroll and Bookkeeping to VAT and Corporation Tax, your perfect accountant is right here – giving you the fast, efficient and friendly support you need.