You have heard that all equipment bought for your business now qualifies for 100% relief as a deductible expense, so there’s no need to keep a separate record of it as expenditure. Is this correct and why does it matter? Naomi Swan provides the answer. The Spring Budget 2023 introduced full expensing which temporarily applies...

It’s been suggested that your business should only auto-enrol new employees who are eligible into your workplace auto-enrolment pension scheme once they’ve successfully completed their probation period. Is this acceptable?  Natasha Crockatt from our Payroll department answers the question.. If you require your employees to successfully complete a probationary period before they start working for...

Your business buys and sells goods and it’s company policy to give some free items to staff. You also personally take some stock for yourself and your family. You amend your stock records for these but what should you do with the VAT? Kenny Logan from our Edinburgh office advises below. There may be occasions...

The rules of VAT are fairly simple. You can reclaim VAT you pay on goods or services you buy for your business and charge your customer VAT when you sell them. But how should you handle VAT where you buy or sell second-hand goods? VAT expert John Craig explains. You may have heard of VAT...

Is there VAT on gift to top salesperson? Q. You operate a car dealership business and have given a case of champagne to your best performing salesperson. Can you claim input tax on the cost of the champagne because each individual bottle cost you less than £50. Is this correct? A. Unfortunately, your interpretation of...

The main rate of corporation tax increased to 25% from 1 April 2023. The relevant thresholds must be shared between companies that are Associated, which means the increase will affect some businesses more than others. Is there a way around the problem?  Kenny Logan from our Edinburgh Office explains here in this article. Since April...

Are you thinking about making the move to electric company cars and vans or looking to provide more electric vehicle (EV) charging points for your workers’ own cars?  Naomi Swan advises below. Then you should consider taking advantage of the Workplace Charging Scheme (WCS). It’s a voucher-based scheme that provides eligible businesses with support towards...

You are the sole shareholder and director of a growing company. After a good year, you want to celebrate with the employees who helped and worked with you over the year. Will HMRC allow tax relief if you put the expense of entertaining everyone through the business?  Kenny Logan from our Edinburgh office outlines the...