As we roll into the festive season and the weather improves, we are all looking forward to a well earnt break. The crew at Hughson & Associates have worked hard this year to pump through the jobs quickly so that clients have the information at hand to plan for the upcoming year. We will be
From my desk: November – January 2026 Read More »
Over the past few months President Donald Trump’s “One Big Beautiful Bill Act” received quite a bit of attention before it was passed on 4 July 2025 – but why the fuss. The key business facing elements included: 100% first-year deduction for U.S. spending on factories, data-centre hardware and other “qualified production property,” plus a
Snippets: The Big and the Beautiful Read More »
On 22 May 2025, as part of the 2025 Budget, the Government introduced a new tax incentive called the ‘Investment Boost’, aimed at encouraging capital investment. It allows an immediate upfront deduction for 20% of the cost of an eligible asset. The new legislation applies from 22 May 2025. The Investment Boost applies to a
Greetings, We welcome Spring with the longer days and slightly warmer temperatures. In the office we are currently focused on processing annual accounts for clients as quickly and efficiently as possible. We have seen some increased tax for many clients as a result of falling interest rates and rising dairy prices. Recently we have seen
From my desk: August – October 2025 Read More »
On the 29th March 2025, the Taxation (Annual Rates for 2024−25, Emergency Response, and Remedial Measures) Act received Royal assent. Of note is that the Act includes an amendment to section 89C of the Tax Administration Act 1994 relating to Inland Revenue’s (IRD) ability to amend an assessment without completing the formal disputes process. The
Snippets: IRD reassessments without notice Read More »
The weather has certainly turned and it’s getting much cooler in the evenings. Our farmer clients have been blessed with much needed rain and those that could keep milking until mid/late May. The milk payout is an all-time high so even with some extra stock food costs we anticipate some larger tax bills. Please contact
From my desk: May – July 2025 Read More »
The schedular tax regime falls under the PAYE rules and typically applies to require tax to be withheld from self-employed individuals if they perform certain types of work, such as modelling or shearing. On its website Inland Revenue have noted non-compliance has been identified within the horticulture industry in relation to contractors not meeting their
Snippets: Schedular tax activity by Inland Revenue Read More »
A common complaint about Fringe Benefit Tax (FBT) is that it is too complex, particularly when it comes to motor vehicles, which becomes a point of frustration given it is one of the most commonly provided benefits. This is borne out by how common it is for mistakes to be identified during an Inland Revenue
When is a motor vehicle subject to Fringe Benefit Tax? Read More »
Although not desirable, it is not unusual for an employee to raise a personal grievance with their employer. Section 123 of the Employment Relations Act 2000 (ERA) provides for a number of remedies where an employee has a personal grievance. If an employee suffers humiliation, loss of dignity, or injury to feelings one remedy is
PAYE and personal grievances Read More »
In today’s business environment, effective decision-making is key to navigating change and achieving sustainable growth. For small to medium sized enterprises where there can be fewer individuals at a senior decision-making level, there is arguably a greater need to have a strong decision-making process to ensure decisions are not made in a vacuum. However, how
Effective decision making Read More »