If you earn a little income on the side, the trading allowance can exempt it from tax or reduce the amount payable. What types of income does it apply to and how does it work? Kirsten Hancock explains in this article. In 2017, the government announced two completely new allowances out of the blue: the...
With Companies House increasing their fees from 1 May 2024, this will have an impact on every incorporated business in the UK. Kenny Logan from our Edinburgh office looks at the new fees and what these increases will mean. Companies House increase in fees will result in increased costs for all entities registered, including private...
Tips, service charges or gratuities, whatever they are called, tipping is becoming more and more commonplace in the UK. With that, questions over where those tips actually go have been asked and there is no clear answer, but that won’t be the case for much longer. A new law and statutory Code of Practice on...
HMRC’s computer system has identified 4,000 traders in the hot food and catering sector that may be under-recording sales. What might this mean for your business, and could the review be extended to other sectors? Kenny Logan from our Edinburgh office takes a closer look. It is common for HMRC to identify specific trade sectors...
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...
In a move to prevent or at least reduce tax avoidance, changes to the construction industry scheme (CIS) rules takes effect from April 2024. As a contractor or subcontractor in the industry, what do you need to know? Naomi Swan provides an update in this article. The main aim of the construction industry scheme (CIS)...
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...
If you need a loan and your company has available cash, is it more tax efficient to borrow from it instead of your bank? Kenny Logan from our Edinburgh office discusses below. Borrowing interest free cash from your company (that it doesn’t have to borrow to lend to you), instead of via a bank loan...
“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...