Here is an official letter that HMRC have just sent out to their customers relating to new penalties for submitting VAT returns or paying VAT late. Apologies if you are already aware of this but it is a useful reminder if you have not yet picked up on the new regime. Particularly important if you...

You are sending an employee overseas for several months to complete a job. They have asked what the tax and NI position will be if they pay for family visits during this period. Head of Tax Christiaan Hansen looks at this in more detail. Commuting You are probably aware that if you pay an employee’s...

You keep various animals for a new fresh produce business. But you may be unaware that there are options as to how the animals are treated for tax purposes.   Elaine Wight from our Accounts Deptartment in Hawick looks at the options. Animals By default, farm animals are treated as trading stock. However, some animals are...

It has been suggested that we only auto-enrol new employees who are eligible into our workplace auto-enrolment pension scheme once they’ve successfully completed their probation period. Is this acceptable? Natasha Crockatt from our payroll department discusses below. If you require your employees to successfully complete a probationary period before they start working for you on...

You have employees who make local deliveries using bikes rather than cars where feasible. Can you still make payments for the business mileage tax free? Naomi Swan CA, based in our Hawick office, discusses below. The tax position will depend on whether the couriers are employees or self-employed. Of course, with HMRC’s increased enforcement action...

You occasionally provide entertainment to your employees. How do you ensure that you correctly report anything that is taxable, and how can you take advantage of any exemptions to minimise the liability. Naomi Swan provides the answer below. Staff entertainment for benefit in kind (BiK) purposes is prone to errors. Many businesses under-report it. This...

If your business pays for road fuel, it can recover the VAT element relating to business use. There are different methods for working out the amount reclaimable. Which is the best for your business? Our VAT expert John Craig outlines some options in this article. VAT incurred on the cost of road fuel used by...

You hired a couple of individuals to tidy and clear part of your premises. They’ve completed the job and asked to be paid in cash. The receipt they gave was handwritten on a piece of paper. Might this cause trouble with HMRC? Kenny Logan from the Edinburgh office looks at this in more detail. Employed...

You are the owner/manager of a small company, and you want to buy a new car. What are the different ways of purchasing it and is it more tax efficient to buy the car through the business or pay personally? Naomi Swan advises in this article. You are the sole director shareholder of your company...

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...