November 2021

News Posted

Winding up a Trust?

29th November 2021
From Trust and Estate Practitioner Brona MacDougall I have had a lot of interest recently from clients and potential clients who are looking to wind up trusts of which they are beneficiaries. But what are the legal and tax implications of doing so?  In some cases, these trusts were set up on death by parents...

Position Vacant – Receptionist

29th November 2021
We are continuing to expand our team and have a vacancy for a full-time receptionist based at our Hawick Office. Salary dependent on experience Based at JRW Hawick Office Full-time Position ABOUT JRW As one of the largest accountancy firms in the Borders, JRW have a team of accountancy and taxation specialists with a wealth...

November Q&A

26th November 2021
What VAT rate do we apply to a hamper? Q. We trade as a food and drinks wholesaler. With Christmas approaching, we will be selling a hamper that includes a range of food and drink items, including tins of luxury fruit, jams, cakes, wine and chocolates. Our plan is to sell each hamper for £49.99...

Easily avoid a life insurance tax trap

25th November 2021
Life insurance policies generally pay out a premium in the event of the policyholder’s death. However, recently published figures from HMRC suggest that many of them are falling into an easily-avoided tax trap. The idea behind a life insurance policy is simple – the individual agrees to pay premiums for a fixed period of time....
Joanne Gibson, Partner JRWCA

New auto-enrolment warnings

21st November 2021
The Pensions Regulator is concerned that employers may have ignored vital routines and compliance activities during the pandemic. What are the key areas to focus on now? In the early days of the pandemic The Pensions Regulator (TPR) relaxed its compliance stance, recognising the pressure businesses were under, but it’s now a return to business...

Charging VAT on a mixed-use property?

19th November 2021
You are in the process of leasing a property to a tenant who will use the ground floor for her retail business and the upper floor as living accommodation. Could opting to tax the property save you VAT? Supplies of property, e.g., letting, are normally exempt from VAT but opting to tax the property changes...