Straight from the horse’s mouth

Switching dividends for pension contributions?

24th February 2021
Generally speaking, if you are a director shareholder, dividends are the most tax-efficient way to extract profit from your company. However, company and personal circumstances can change that, so are pension contributions worth considering too? Partner and Tax expert Brona MacDougall takes a closer look. Since 2016, the government has introduced a number of measures...

Mobile and Home Based Close Contact Services Fund

22nd February 2021
The Scottish Government are providing a new fund for owners and operators of mobile and home-based close contact service businesses and for registered driving instructors. The fund will give eligible applicants a one-off payment of £4,000. The deadline for applications is 16 March 2021 at 6pm. To be eligible for this fund, you must own...

New grants to help SME’s with importing or exporting

21st February 2021
The new SME Brexit Support Fund aims to help businesses get to grips with post Brexit importing or exporting rules.  The government has just announced this new fund which can give grants of up to £2,000 to help with training or professional advice on exporting for businesses with up to 500 employees.  Euan Welsh takes...

Newly Self-Employed Hardship Fund

19th February 2021
The Scottish Government’s fund for Newly Self-Employed Businesses is going to be opening up for a second round. This was originally introduced in May 2020 to support those self-employed individuals who did not qualify for SEISS. Importantly, individuals who previously fell though the gap as they could not evidence the fact that income from self...

Sold your house? When do you need to report this to HMRC?

11th February 2021
You sold your house and moved to a new one a few weeks ago, you thought all of the paperwork was complete, but someone tells you that you now need to tell HMRC about the sale or face a fine. Are they right? Property expert Wendy Noble provides the answer. The rules for reporting the...

VAT Reverse Charge

10th February 2021
New VAT rules for construction In this attached guide we look at the ‘Domestic Reverse Charge’ (DRC) that applies for VAT on construction services from 1 March 2021. This was announced in a consultation in early 2018, with the intention that it should be introduced on 1 October 2019. It was delayed for a year...

Discretionary Business Support Fund

2nd February 2021
Funding has been provided by the Scottish Government to local authorities to provide additional support for businesses where they consider that necessary or justified. The aim of this fund is to mitigate the short term financial challenges being experienced by businesses adversely impacted by restrictions and regulations introduced since October to control the spread of...

Fund for Businesses in the Wedding Sector

26th January 2021
What is the fund? A £25 million fund to support the wedding sector and its supply chain will open to applications this week. Launching on Thursday 28 January, the fund will provide one-off grants of up to £25,000 for eligible businesses in the sector including wedding venues, photographers, caterers and suppliers. This new fund aims...

Scottish Inbound Tour Operators Fund

26th January 2021
What is the Scottish Inbound Tour Operators Fund? The Scottish Government have recently announced a £6 million fund delivered on behalf of the Scottish Government by VisitScotland with input from the Scottish Tourism Alliance, the Scottish Destination Management Association, the Scottish Incoming Golf Tour Operators Association and UK Inbound. The fund is available for inbound...

Taxi and Private Hire Driver Support Fund

26th January 2021
The Scottish Government have announced additional support to Taxi and Private Hire Drivers who are experiencing decreased demand, by way of a one-grant of £1,500 to eligible individuals. This support is separate and additional to any other funding receivable from the Scottish or UK Government. For example, a driver may be eligible even if they...