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Buying a property through a limited company?

16th August 2019
There is currently a huge shift towards buying property within companies and according to recent figures, up to 80% of new buy to let mortgage applications are now for limited companies. Until 2015, there was no compelling need for most people to make this choice and mortgages for companies were much less competitive. But then...

Accidental landlords’ costs set to spiral

10th August 2019
New capital gains tax rules could cost accidental landlords thousands of pounds when they sell their former home in changes that were confirmed by HMRC. The new rules could affect over half a million landlords when they come to sell, Brona MacDougall takes a closer look at the details and the implications. Measures announced earlier...

New business – when is the best time to register for VAT?

23rd July 2019
You have identified a new business opportunity that you want to keep separate from your main business. What should you consider regarding your VAT recovery if you don’t want to register straightaway? VAT expert John Craig advises. You can voluntarily register for VAT at any time if you are either making or intend to make...
Joanne Gibson Head of Payroll

New rules for Employment Allowance

18th July 2019
The government has published draft legislation for the new restrictions which will apply to the NI Employment Allowance (EA) from April 2020. Will your business be affected, and if so, how? Head of Payroll Joanne Gibson brings you up to date. Employment Allowance Since April 2014 most employers have been entitled to a deduction from...

Is it a donation or sponsorship, or both?

17th July 2019
HMRC has recently updated its guidance about when a payment to a charity could comprise of two different elements, with different VAT outcomes for each part. What opportunities does this create for both charities and sponsors? John Craig looks at the change and how this might affect you. HMRC’s approach to philanthropy is very clear,...
Husband and wife companies - tax on dividends

Husband and wife companies – tax on dividends

17th July 2019
By Stuart Hair, JRW CA Tax Team You’re about to form a new company of which you’ll be the main income generator. To save tax your spouse will own shares in the company. Should you subscribe for shares and give some to them, or should you both subscribe? The example below demonstrates why HMRC was...

New DRAFT IR35 legislation

12th July 2019
The new DRAFT IR35 legislation which has just been released by HMRC, could potentially be really good news for many of our smaller sized clients. Of course, this is draft legislation and it could be subject to change but it does include promising signs for many of you, here is a summary of the key...

Is your van a car?

3rd June 2019
As well as the more obvious practical differences, the difference between a company van and a company car also has an impact on your tax bill. But in March 2019 the Upper Tribunal upheld two differing decisions over ‘combi’ vans provided to employees for private use. Kevin Crowford discusses the tax implications and brings you...

Time saving U-turn on Making Tax Digital

3rd June 2019
The latest Making Tax Digital policy update from HMRC means that supplier statements can now be used to record expenses for input tax purposes, that’s a big time saving for the many businesses which use spreadsheet accounting. MTD for VAT was introduced for all UK businesses making annual taxable supplies of more than £85,000 for...

Are you ready for the new Reverse Charge?

31st May 2019
If you are a businesses involved in the supply of construction services, from 1st October 2019, you will need to change how you account for VAT. This is when the Construction Services Domestic Reverse Charge (CSDRC) is introduced, VAT expert John Craig takes a closer look. If you are a supplier making a supply of...