A temporary lower VAT rate currently applies to some supplies of food and drink but not others. While this is good news it has caused some confusion. What VAT should you be charging your customers?  Our VAT expert John Craig provides the answers. Temporary VAT rate The government introduced the temporary 5% VAT rate for...

HMRC v Coca-Cola (GB) Ltd is a long running case centred on the definition of a company van. This decision matters because company cars are taxed more heavily than company vans that can be used privately. The case concerns double cab pick-ups that have a second row of seats behind the driver. The Court of...

Coronavirus Restrictions Fund – Business Hardship Fund and Business Closure Fund The Scottish Government have created a Business Hardship Fund and a Business Closure Fund to support businesses significantly impacted by COVID-19 restrictions. The fund aim to support some businesses that remain open but are still significantly impacted by the restrictions, including those in the direct supply...

Update 23 October 2020 The Job Support Scheme (JSS) has been significantly changed just weeks before its implementation. This scheme is now set to cover not only those businesses that face decreased demand due to COVID but also those that are forced to close by the operation of 2 separate system : JSS Open and...

Update 23 october 2020 The Self Employed Income Support Scheme is being extended until 30 April 2021. As before this will be paid out in 2 grants, each of which will cover a three month period. The eligibility criteria are slightly different to the earlier incarnation of this scheme. You must: • be currently eligible...

You took advantage of HMRC’s tax deferral schemes for VAT and income tax self-assessment because of coronavirus. But what options are there to pay and when is the best time to do it? Brona MacDougall takes a closer look Naturally, before you pay tax you want to look at your cashflow over the coming months...

You own a building that has a ground floor shop and a first floor flat, which you rent out. You opted to tax the property many years ago. But have you been dealing with the VAT correctly and can you save some tax in the future? John Craig provides the answers. Many landlords have opted...

You own and operate a farm, you are many years away from retirement but you would like to know about possible relief from inheritance tax, particularly in relation to your farmhouse. IHT expert Brona MacDougall discusses the key issues. Generally speaking, agricultural property relief (APR) works in a similar way to business property relief (BPR),...