Research and Development (R&D) Changes due in 2024 are already causing confusion Changes to R&D relief are causing confusion for companies and the importance of using an experienced accountant to complete R&D claims is becoming more important than ever as processes change. The government is planning to merge the existing R&D schemes into a single…

Tax treatment for charging company vehicles at home HMRC have amended their guidance on the tax treatment of charging electric company cars and vans at residential properties. The costs incurred of charging company cars and vans are now treated as a tax-free benefit, whereas in the past HMRC said that where an employer reimburses their…

The importance of using your accountant to do your R&D claim Accountants are warning that UK companies are at risk of falling foul to new regulation for the submission of tax relief claims for research and development (R&D). Nearly 50% of claims have been declared invalid by HMRC since new documentation requirements came into effect…

Profit and Loss to be reported for Small Companies The government has announced it is going ahead with tightening the accounts filing framework for small companies, by making it mandatory to report the profit and loss figures for small companies, but has not yet said when this will be implemented as time needs to be…

Less than 80 days to go!! Do you need to file a Self Assessment tax return and keep putting it off to another day! Do you need some assistance as you are not sure how to do it? Then let us at Kennedys Accounting help! – with less than 80 days to go until the…

HMRC has changed its process for late VAT returns HMRC is changing the assessment process for late VAT returns, making it even more important to ensure you have detailed records and that all returns are submitted on time. If you (your business) fails to file a VAT return by the due date, HMRC will apply…

Company name change to Kennedys Accounting Ltd As we continue with the countdown to our change of name to Kennedys Accounting Ltd, we are excited to share our new logo’s. If you have any questions, please let us know and we will be happy to help as we continue with setting Rift ‘adrift’. The team at…

In September 2023 Rift Accounting Ltd will be changing its name to Kennedys Accounting Ltd Rift Accounting Ltd which was originally part of an award-winning group of companies, changed ownership in 2020 following a management buyout by the existing directors. Dermot Kennedy, Managing Director commented – “This is an exciting change for the company which…

Self Assessment threshold rises to £150K from 2023/24 Tax Year HMRC has confirmed that with effect from the tax year 2023 to 2024, the self-assessment threshold for taxpayers taxed through PAYE only, will change from £100,000 to £150,000. Any taxpayers that are affected do not need to do anything now as the self-assessment threshold for…

Part Qualified Accountant Location: Ashford Salary: Competitive / Market Leading Salary Job Type: Full-Time, Permanent We are Rift Accounting Ltd and we are proud of our customer centric approach to accountancy and growth. We are looking for further like minded individuals with a passion for accountancy, business and excellent customer service to join our team…