You have recently switched to electronic invoicing. However, some customers are insisting on paper invoices. Must you comply with these requests?  Elaine Wight answers this question below. While the design and layout of your business invoices is up to you, there are government regulations that require you to include certain information about your business and...

Your business is growing and you are considering whether the company should lease or buy new premises. What factors do you need to take into account before making a decision?  Associate Kenny Logan from our Edinburgh office discusses the options in this article. Leasing There are several reasons why it could make more sense for...

“Companies House is an executive agency of the Department for Business and Trade. We incorporate and dissolve limited companies. We register company information and make it available to the public. We are approaching a pivotal moment in our history. The Economic Crime and Corporate Transparency (ECCT) Act will fundamentally change our role and our purpose...

If you own the trading premises of your business, charging rent can be a good way to extract income. The trouble is it can increase any capital gains tax (CGT) payable if you sell the property. Can the income tax saving justify the extra CGT? Kenny Logan from our Edinburgh office takes a closer look....

The way we allocate profits to tax years for sole traders and partnership businesses has change in the 2023/24 tax year. The current system used to allocate profits was designed in the 1920s and creates a situation whereby businesses that do not have an accounting period that is aligned with the tax year may pay...

You have heard that all equipment bought for your business now qualifies for 100% relief as a deductible expense, so there’s no need to keep a separate record of it as expenditure. Is this correct and why does it matter? Naomi Swan provides the answer. The Spring Budget 2023 introduced full expensing which temporarily applies...

As an owner manager of a company, taking income from it in the most tax and NI-efficient way is probably a top priority. The general view is that dividends are the best option, but when might benefits in kind be better?  Kenny Logan from our Edinburgh office takes a closer look. Benefits in kind are...

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...

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)...

From 1 April 2023, companies with profits in excess of £50,000 will see their corporation tax liabilities increase. This also means that relievable expenses will be more valuable, so what can you do to save as much as possible? Kenny Logan from our Edinburgh office explains. New rates From 1 April 2023 a new set...