As you will be aware, the proposed increase in National Insurance paid by the self-employed has now been shelved. Whilst this U-Turn is to be welcomed, the announced reduction in the tax-free dividend allowance will affect those who run their own companies, Julie Robertson takes a closer look. The Chancellor had announced in the Budget...

It can’t have escaped your notice that business owners who pay themselves dividends on top of a small salary are being hit hard by the Budget. If you are in receipt of dividend income in excess of £2,000 the reduction in dividend tax allowance will mean that you will be facing higher tax bills. The...

The questions surrounding the issue of how best to extract profits from a company in a tax-efficient manner remain as popular as ever, in fact something we advise on often. Despite the introduction of the dividend allowance, and the personal savings allowance, extraction by remuneration (salaries) and by way of dividend remain the two most...

It’s hard to believe but JRW will turn ten years old this April. Formed in 2007 by the merger of two of the oldest accountancy firms in the Borders, with the combination of the experience of the James Rosie partnership (1921) from Galashiels and Welch and Co (1924) from Hawick. Happy Tenth Birthday In the...

Whenever the Brexit vote result in the UK leaving the EU, it has already caused the pound to slide against other currencies. But if you decide to sell foreign assets to take advantage of this, how will your tax position be affected? Alan Simpson takes a closer look. Foreign assets advantage The recent devaluation of the pound...

If you have limited space (and privacy) in your home for an office or workspace, then you might be one a growing group of people who are considering creating an outbuilding in the garden. Bob Johnstone takes a look at the pros and cons of building an office in your garden and what sort of tax...

Would you believe that ‘The Bank of Mum and Dad’ lent more than £5.3bn to home buyers last year, making it the UK’s tenth largest lender. Mike Ellis delves a little deeper. With low or no interest rates, personal service and long or infinite repayment periods, it’s little wonder that the ‘Bank of Mum and...

‘Making Tax Digital’ is the next big thing to affect taxpayers and while it’s some way off yet HMRC is slowly making changes in preparation for it, Kevin Crowford takes a closer look. For Companies The latest moves, which HMRC announced in September 2016 include the withdrawal of tax return confirmations for companies. No more paper From...

Reforms to IR35 will be a major blow to public sector contractors, Alister Biggar takes a closer look. Reforms to IR35 in the public sector are set to go ahead with no delay, the Chancellor has confirmed in his Autumn Statement. This means that those who engage with contractors will assume responsibility for confirming contractor...

The tax relief that landlords of residential properties get is going to be restricted to the basic rate of Income Tax from April 2017, Kenny Logan investigates. These changes will undoubtedly affect you if you let residential properties as an individual, or in a partnership or a trust and will affect how you receive relief...