Straight from the horse’s mouth

THE END OF FRSSE AS WE KNOW IT

5th October 2016
By Joanne Gibson Firstly, let’s give FRSSE its full name of The UK Financial Reporting Standards for Smaller Entities! As the name would suggest, FRSSE is restricted to small companies or small groups, as defined by the Companies Act 2006 and prescribes the basis for them preparing and presenting their financial statements. Its use is...

PREPARING FOR A MORTGAGE APPLICATION

3rd October 2016
John Craig helps you to get ready with some practical advice and tips that will hopefully speed the process up for you. Something that we are asked about on almost a daily basis by clients is to help them to provide the variety of information that mortgage providers are now asking for. It does seem...

IS IT BETTER TO LEASE OR BUY A CAR?

2nd September 2016
Something that we get asked a lot about is whether it is better to lease or buy a vehicle and indeed whether it is better to do this personally or through a business? Kenny Logan is in the driving seat on this one. With new vehicle prices continually rising and the value of used vehicles...

WHAT IS ENTREPRENEURS’ RELIEF?

1st September 2016
This tax relief has been extended and means that you may be able to pay less Capital Gains Tax when you sell or ‘dispose of’ all or part of your business. Entrepreneurs’ Relief means that you’ll pay tax at 10% on all gains on qualifying assets providing that certain conditions are met. Julie Robertson takes...

WHEN DOES A HOBBY BECOME A TRADE?

12th August 2016
It is becoming increasingly common for individuals to claim that their hobby is actually a taxable trade, Kenneth Logan investigates. There are many people who have hobbies which generate money for them, such as buying and selling items on eBay or at car boot sales. But what you might find surprising is that it is...

BREXIT – How will my business be affected?

1st July 2016
Following the vote by the UK to leave the EU, aside from the political upheavals, what are the practical problems that small business owners and tax payers will be facing as a direct result of the Brexit vote? The factors that may affect businesses, especially smaller businesses in the UK, in the coming months are...

BREXIT – How will my personal finances be affected?

1st July 2016
Aside from the political upheavals, what are the practical problems that individuals and tax payers will be facing as a direct result of the Brexit vote? For the last 40 years, our financial institutions have been built inside an integrated European Union. As a nation, we will need to act quickly to re-establish this framework...

TRANSFERRING PROPERTY

16th June 2016
You can legally transfer your property at any time, even while you are still living in it, but there are complex rules to be aware of as Alister Biggar outlines below.   In this article we look at some of the issues which arise from property transfers and concentrate on the main property taxes which come...

TAX DOESN’T TAKE A HOLIDAY ON HOMES ABROAD

2nd June 2016
Julie Robertson warns that owning a home abroad is not quite as easy as they make out on programmes like ‘A Place in the Sun’. With the popularity of these lifestyle shows on television, it is perhaps unsurprising there are more than one million homes owned by UK residents in the EU alone. These properties...

LIFETIME ISA versus HELP TO BUY ISA

25th May 2016
Robert Johnstone investigates which ISA performs better for those saving towards a deposit for a house.   One of the surprise announcements of the last budget was that another new type of ISA will be available from next year. The ‘Lifetime ISA’ which is to be launched in 2017, will only be available to those...