Susan has been meeting some business expenses out of her own pocket. But can your company pay you interest for using your own money and is there any tax advantage to doing so? Naomi Swan takes a look. Susan is the sole director and shareholder of a small company. She frequently travels for work and...

REVERSE CHARGE FOR BUILDERS Q. I am a builder, and my cash flow has been badly hit by the new reverse charge rules. This is largely because I am no longer being paid VAT by my builder clients to use as working capital until my quarterly VAT return is due. Is it possible to issue...

From 1st July 2021, employers must now pay part of employees’ furlough wages as the Coronavirus Job Retention Scheme (CJRS) starts to wind down. What do you need to know? Head of Payroll Joanne Gibson advises. For claim periods ending on or before 30 June 2021 you could claim (from the CJRS) 80% of an...

Your company is paying for an electric charging point to be fitted at your home. Both you and your partner will use it as you each have electric cars. But will this count as a taxable benefit in kind and what are the tax consequences if you sell your home? Joanne Gibson advises. The tax...

Company cars continue to be a popular benefit in kind. However, employer-paid-for fuel has a poor reputation for resulting in disproportionately high tax bills. Is this still justified or might it be time for another look? Helen Johnstone does just that. Car versus fuel The calculation of tax and Class 1A NI on company cars...

Inheritance tax (IHT) planning often involves giving away your wealth, but as a business owner business property relief (BPR) can significantly reduce IHT. What can you do to help your estate achieve the maximum relief? Inheritance tax expert Brona MacDougall advises. IHT and business property Where you own a business, or a share of one,...

We are delighted to announce that Joanne Gibson has just become our newest Partner in the firm. As an Associate with the firm and our Payroll Manager, Joanne will already be well known to many of you. As JRW continues to grow and expand, this exciting appointment recognises Joanne’s considerable talent and demonstrates a continual...

We are proud to have such an amazing team at JRW and our specialists always try to go the extra mile for clients. We recently received a lovely letter from one of our charity client’s WorkingRite to thank JRW for our accounting work, and in particular, to thank Gail Trojan for her commitment, support and...

Since the pandemic began, our charity clients have been asking us if they are allowed to hold meetings virtually instead of in person. To help charities understand what action they must take, our charity expert Kevin Ferguson brings you some useful Q&A’s on the subject in relation to the requirements of the Scottish Charity Regulator,...

Something that many people have discovered during lockdown is that it is possible to work effectively from home. But perhaps you are now keen to create a more permanent work space at home and are thinking of investing in a garden office. What are the key things to consider and are there any tax implications?...