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Selling your business – how to avoid tax traps

25th October 2019
You’re selling your business and as part of the deal you’ll stay on in a managerial role for three years. You’ll then be paid an additional sum based on the profits made over that period. How should you structure the payment to avoid tax traps? Our Senior Tax Manager Brona MacDougall provides advice on the...

October Q&A

1st October 2019
Is hiring golf clubs to a non-resident taxable? Q. We hire golf clubs to private individuals. A customer came into our shop last week and insisted that the fee for hiring a set of golf clubs for a week should not be subject to VAT because he is a US resident. He produced evidence of...

How to claim the new Structures and Buildings Allowance

26th September 2019
HMRC has recently published new guidance on the Structures and Buildings Allowance (SBA) following changes to the rules. This includes important information about how to claim it. What’s involved? John Craig discusses below. The 2018 Budget announced that businesses would be entitled to a new tax relief, the Structures and Buildings Allowance (SBA) would apply...

Grant funding for Brexit costs

18th September 2019
HMRC has announced that a £16m fund has been made available from which businesses can claim grants to cover certain costs associated with Brexit. On 31st October 2019 the UK will leave the European Union. Businesses will have to apply the same customs rules to goods moving between the EU and UK as they would...

September Questions and Answers

3rd September 2019
Can we submit monthly VAT returns? Q. We struggle to pay our quarterly VAT returns on time because we use the VAT money for other business expenses before it becomes due. Would HMRC allow us to complete monthly returns to help our cash flow? A. Unfortunately not. A business can only submit monthly returns if...

August Questions and Answers

1st August 2019
Does the name on the invoice matter? Q. I am the finance director of a large company and have just discovered that hotel bills we pay for in relation to our sales staff working away from home are always made out to the individual employee and not the company. Does this create an input tax...
Joanne Gibson Head of Payroll

New rules for Employment Allowance

18th July 2019
The government has published draft legislation for the new restrictions which will apply to the NI Employment Allowance (EA) from April 2020. Will your business be affected, and if so, how? Head of Payroll Joanne Gibson brings you up to date. Employment Allowance Since April 2014 most employers have been entitled to a deduction from...

Should you be charging your company rent?

3rd July 2019
You and your fellow directors own your company’s trading premises. Currently it occupies the property rent free. If this is the case, you should probably think about charging rent to your company as a tax-efficient source of income. But what is the income tax efficiency versus entrepreneurs’ relief? Tax expert Helen Johnstone takes a closer...
Joanne Gibson Head of Payroll

Payroll like clockwork

29th May 2018
Managing Payroll is one of those core business functions that you might believe is better kept in-house, but as our new Payroll Bureau Manager Joanne Gibson informs you, there is a compelling case for outsourcing it. As a business owner you will know that employing a workforce requires a good understanding of your legal obligations...
Kevin Crowford, Partner at JRW CA

INCORPORATING YOUR BUSINESS – The Hidden Tax

29th March 2018
You are looking to incorporate your business and you’ve heard that any resulting tax charges can be legitimately mitigated. However, there is tax to pay as Kevin Crowford shows in his latest blog. Undoubtedly one of the main reasons for transferring a sole trader business to a company in which you own shares is tax...