Hawick

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Tax return requirement rises to £150k

21st June 2023
To limit the number of self-assessment (SA) returns HMRC has to process it has changed the criteria for when one is required. If HMRC removes you from SA as a result, should you agree with this? Head of Tax Christiaan Hansen discusses. For 2023/24 and later tax years the self-assessment (SA) income threshold at which...

What earnings are subject to AEOs?

2nd June 2023
You’ve received an attachment of earnings order (AEO) instructing you to deduct payments of an outstanding debt from one of your employee’s pay. You’ve heard that not all earnings are “attachable” so what earnings does it apply to? Natasha Crockatt from our Payroll department advices below. An attachment of earnings order (AEO) is an official...

Are meals for employees a perk?

31st May 2023
You are thinking about providing free meals to your employees to help them with the rising cost of living. You can buy in bulk and can access discounts not normally open to individual employees. But how do HMRC view this?  Naomi Swan CA, looks at this below. Food inflation While the headline rate of inflation...

Maternity Benefits for Company Directors

30th May 2023
All women in the UK are entitled to a total of 52 weeks of maternity leave from work – made up of 26 weeks ordinary maternity leave and 26 weeks additional maternity leave. There are two types of maternity benefits available, Statutory Maternity Pay (SMP) which is paid by an employer and Maternity Allowance (MA)...
rental property tax deductions

Reduce CGT on your buy-to-let

29th May 2023
James owns a residential property which has been let for many years and he is considering selling it but will lose a large amount of the proceeds to HMRC. What are the options for reducing his capital gains tax (CGT) bill? Head of Tax Christiaan Hansen highlights some of the options available. Capital gains James...

Changes to VAT penalties and interest

28th May 2023
Here is an official letter that HMRC have just sent out to their customers relating to new penalties for submitting VAT returns or paying VAT late. Apologies if you are already aware of this but it is a useful reminder if you have not yet picked up on the new regime. Particularly important if you...

Overseas work and travel expenses

4th May 2023
You are sending an employee overseas for several months to complete a job. They have asked what the tax and NI position will be if they pay for family visits during this period. Head of Tax Christiaan Hansen looks at this in more detail. Commuting You are probably aware that if you pay an employee’s...

Production animals and the herd basis

3rd May 2023
You keep various animals for a new fresh produce business. But you may be unaware that there are options as to how the animals are treated for tax purposes.   Elaine Wight from our Accounts Deptartment in Hawick looks at the options. Animals By default, farm animals are treated as trading stock. However, some animals are...

Auto-enrolment only after probation?

2nd May 2023
It has been suggested that we only auto-enrol new employees who are eligible into our workplace auto-enrolment pension scheme once they’ve successfully completed their probation period. Is this acceptable? Natasha Crockatt from our payroll department discusses below. If you require your employees to successfully complete a probationary period before they start working for you on...

Business mileage payments for bikes

28th April 2023
You have employees who make local deliveries using bikes rather than cars where feasible. Can you still make payments for the business mileage tax free? Naomi Swan CA, based in our Hawick office, discusses below. The tax position will depend on whether the couriers are employees or self-employed. Of course, with HMRC’s increased enforcement action...