Straight from the horse’s mouth

Are you ready for Making Tax Digital in April?

14th January 2019
All businesses compulsorily registered for VAT will have to comply with Making Tax Digital from April 2019. But what are the key things to have in place to get your record keeping right? Kenny Logan advises. The first thing to confirm is that there will be no delay to Making Tax Digital for VAT and...

Salary sacrifice – what’s the tax position?

9th January 2019
One of your employees has asked if he can give up some of his salary for extra holiday. You’re aware that there are special tax and NI rules for sacrificing pay for benefits. How do they apply in this situation? Brona MacDougall advises. Since April 2017 where you offer an employee the choice of less...

Resolutions worth keeping

3rd January 2019
New Year is of course the time for making resolutions, some of which can be much more successful than others! However, it is also the time of year when business owners can make lasting changes that will improve profitability. What New Year’s resolutions should you consider making for your business? Tighten up your credit control...

JRW Sleep in the Park

11th December 2018
A team from local chartered accountancy firm JRW took part in the Sleep in the Park event last weekend, raising more than £2,500 for this homeless charity. The Social Bite charity and their Sleep in the Park events are playing a vital role in trying to eradicate homelessness in Scotland. The JRW team of five,...

Festive Q&A

6th November 2018
Christmas might be the season of goodwill but you still need to be aware on the tax implications for gifts, parties and even decorations this festive season. Q.  Can you claim tax relief on Christmas decorations? A.  The good news is that unless you work from home, you are able to claim tax relief on...

Have you joined the Tax-Free Childcare club?

2nd November 2018
Following our article in the summer entitled Childcare Vouchers are Changing, problems with HMRC’s new Tax-Free Childcare continue to crop up. You’re thinking of using the scheme, but you’re not sure whether it will leave you better off. How should you decide? Joanne Gibson provides you some answers in her latest update. Is Tax-Free Childcare...

Pension tax break?

22nd October 2018
After deferring your state pension for a few years you have decided that it’s now time to take it. You have the option of a higher pension or a lump sum. The latter offers the chance of some tax planning but what’s involved? Kevin Ferguson advises. Deferred state pension As you may know, the government...

Retail therapy

20th September 2018
As a retailer, it is very likely that you will on occasion run special offers and promotions to boost sales, but what do you need to consider in order to avoid unexpected VAT consequences? JRW’s Bob Johnstone provides you with some good advice. Correct amount Normally VAT is due on the price charged if that...

STEP – Advising families across generations

18th September 2018
As a global association for practitioners who specialise in family inheritance and succession planning, JRW Tax Manager Brona MacDougall is now a Trust and Estate Practitioner or ‘TEP’ in the Borders, the designation given to full members of STEP. STEP members help families plan for their futures and as specialists in inheritance and succession planning,...

Are you ready for Making Tax Digital?

30th August 2018
Making Tax Digital is without doubt the most significant change to the UK tax system in a generation and businesses really do need to take action now. We look at the implications and provide a valuable checklist for the transition across to the new system. The new digital method of tax collection and administration known...