Your business has some unpaid purchase invoices in the 90-day+ column of its aged creditors report. Input tax has been claimed on these invoices. Why does this lead to a problem and how could you avoid it in the future? Bob Johnstone from our Galashiels office investigates. If you pay and claim VAT based on...

Mr Brown owns a warehouse that he rents out and the income that he receives is exempt from VAT. He has offered a new tenant a three month rent-free period at the beginning of a new rental agreement. Does this create any VAT problems? Our VAT expert John Craig discusses. Rent-free or not? The first...

When you buy a car, unless you use it 100% for business, you can’t reclaim any of the VAT paid on the purchase. However, more generous rules apply to the cost of motoring expenses such as accessories, repairs and so on. John Craig explains exactly what these rules are and how you can benefit from...

Giving away your wealth to members of your family reduces your estate for inheritance tax purposes, but only after seven years. However, it is possible to achieve the same result without the wait. What steps do you need to take? Inheritance tax expert Brona MacDougall has some valuable advice for you. Any tax expert will...

The JRW team wish you all a very Merry Christmas and Happy New Year. The Office’s will be closed from 5pm on Monday 23rd December 2019, opening again after the festive break at 8.30am Monday 6th January 2020.

Before Christmas 2018, HMRC wrote to employers about a temporary relaxation of the deadline for reporting payroll information. What’s the position for this year? Head of Payroll Joanne Gibson finds out. Changing paydays HMRC is planning to update its guidance to employers about paying employees earlier than usual over the Christmas period. As the new...

Q. My parents stay in and pay the mortgage on my house, is this classed as rental income? I have owned a house for 12 years which I don’t currently live in. My parents live in the house and they pay me just enough money each month to cover the mortgage payments. Should I pay...

If you have use of a company car for private travel you’ll have to pay tax for the privilege. Plus, there’s a further tax bill if the business pays for your fuel for private journeys. What’s changing with these tax charges in April 2020? Brona MacDougall finds out. Cars and car fuel Company cars are...

You are registered for VAT as a sole trader and have decided to earn extra money by renting out a bedroom in your home via Airbnb. But is this income subject to VAT and, if so, is there a way around it?  John Craig looks at this futher. It is often forgotten that there is...

Jane has decided to turn her hobby into a business which she’ll run though a company. She bought stock and equipment for her hobby which will now be used for the business instead. Can it claim tax deductions for these costs? Brona MacDougall provides the answers. Pre-trading expenses You may already be aware that tax...