Your father recently died having spent the last two years in care. Last year you sold his home to help pay the nursing home fees. When preparing the inheritance tax forms, are you entitled to claim the residence nil rate band?  Tax Partner Brona MacDougall discusses. The inheritance tax (IHT) residence nil rate band (RNRB)...

Is it possible to move to monthly VAT returns to get the cash in quicker? VAT Technician Elaine Wight explains. If most of your sales are zero-rated, then it’s likely that you usually get a VAT repayment every quarter. But having to wait for that VAT refund after the end of a quarter can cause...

The 2022 Spring Statement increased the NI threshold, however the way this has been done is not straightforward. How does the change affect small company’s profit extraction planning for 2022/23? Head of Payroll Joanne Gibson provides detailed advice. The Chancellor committed to this rise on the basis that health and social care needs to be...

With climate change and the cost-of-living crisis high on everyone’s agenda, is this a good time to look at an electric company car policy? What benefits would such a scheme bring? Brona MacDougall advises. Company cars have fallen out of favour in recent years as tax charges have risen and the optional remuneration arrangement changes...

HMRC recently updated its advisory fuel rates for company cars. However, the new rates don’t even come close to reflecting the current pump prices. Can you pay employees a more realistic rate? Naomi Swan advises. If you provide employees with company cars, you are entitled to pay them a fuel rate to reimburse them for...

Of course all businesses want to keep costs down and having a robust system in place for checking employee expense claims should be part of that regime. But what are the requirements to meet HMRC’s standards? Our Head of Payroll, Joanne Gibson advises. Self-policing expenses policy Generally, HMRC isn’t concerned about the amount that you...

January 2022 Funding has been allocated to support businesses in hospitality and leisure who are impacted by the requirement for physical distancing and capacity limits that came into force from 27 December 2021. The January Business Support Top Up – Hospitality and Leisure Fund will provide financial support to businesses in the hospitality and leisure sectors...

An employee who is being made redundant has asked his employer to write off their outstanding training costs loan as part of their redundancy termination package. But what are the tax implications here?  Tax Expert Brona MacDougall explains. Where a loan to an employee is written off by the employer for any reason, HMRC treats...

The government has introduced an NI exemption to encourage employers to take on former military personnel. If this is something you’d like to support, what are the key considerations? Head of Payroll Joanne Gibson advises. Overview The government made a commitment at the last election to better support veterans in their transition to civilian employment....

We are expanding our team and have a couple of vacancies for an Accountant and experienced Accounts Assistants. Required to assist with bookkeeping and accounts preparation for limited companies, sole traders and partnerships. Peebles, Biggar, Galashiels and Hawick Offices. Salary dependent on experience. ABOUT JRW As one of the largest accountancy firms in the Borders,...