Merranti Accounting Blog

Tax uncertainty in an election year

January 25, 2024

Tax uncertainty in an election year 2023 has been a lot more stable, politically and economically, than 2022. Rather than the multiple fiscal events of the latter, there has been a single. Budget plus an Autumn Statement. However, with a pre-election Budget due on 6th March. We wait to see whether there will be major

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The End of the Year Newsletter is here!

January 12, 2024

The End of Year Newsletter is here! Our latest newsletter can be found here for all the latest in tax news.

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Reporting benefits and expenses

Freelancers will need to make substantial adaptations in response to the latest taxation regulations introduced by HMRC.

December 15, 2023

Navigate the intricacies of HMRC’s updated tax regulations for freelancers and partnerships through our comprehensive analysis of the forthcoming changes set to take effect in the 2024-25 tax year. In a pivotal development for the UK’s freelance and partnership sector. HMRC is poised to implement substantial alterations to taxation for the 2024-25 tax year. This

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Settle tax on behalf of your employee

The Landfill Tax rates will experience an increase

December 14, 2023

Who is likely to be impacted: Landfill site operators in England and Northern Ireland and businesses registered with HMRC for Landfill Tax. Overview of the measure: As outlined in the Spring Budget 2023, both the standard and lower rates of Landfill Tax will see an increase from April 1, 2024. This adjustment aligns with the

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Personal allowance

What is changing about Personal allowance in 2024?

December 6, 2023

Every eligible taxpayer residing in the United Kingdom has the right to claim a personal allowance. Applicable to all forms of income for tax purposes. The set allowance for the fiscal year 2023/24 is £12,570.28. Since April 2010, individuals with incomes surpassing £100,000 have had their personal allowance gradually withdrawn. The reduction occurs at a

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concept interest rates and dividends ,investment growth percentage and interest on deposits ,increase in interest rates ,Retirement returns ,increase of business profits,finance and investment

Reporting profit for 2023 to 2024

November 30, 2023

The fiscal period spanning from 2023 to 2024 is referred to as the ‘transition year.’ When filing your Self Assessment tax return, it is necessary to declare profits earned from the day following your accounting year end in 2022 to 2023, up until April 5, 2024. Key points to consider: You will be reporting profits

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The Economic Crime and Corporate Transparency Bill has become law

November 1, 2023

The act introduces measures to enhance our data quality and reliability. It enables faster action against unauthorized use of personal information in the register, benefiting individuals. The key measures include: Implementing identity verification for all company directors, individuals with significant control, and those filing for companies. Expanding my authority to oversee company registration and maintain

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Sharing Best Practice

October 25, 2023

Introducing ‘Sharing Best Practice’ Breakfast Events! At these events you will have the opportunity to learn and gain knowledge from our expert speakers who will each share and impart their knowledge and skillset around a particular topic. We are delighted to invite you to attend the first of these events at Chequer Mead on 22nd November

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The Autumn Newsletter is here!

October 2, 2023

The Autumn Newsletter is here! Our latest Autumn newsletter can be found here for all the latest in tax news.

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Word TAX RELIEF. Written on a calculator on an office desk.

Audio-visual tax reliefs

September 21, 2023

Audio-visual tax reliefs The film, TV and video games tax reliefs will be reformed, becoming expenditure credits (similar to RDEC) instead of enhanced deductions, from 1 April 2024. The new Audio-Visual Expenditure Credit (AVEC) will replace the current film, high-end TV, animation and children’s TV tax reliefs. The expenditure threshold for high-end TV will remain

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