In this article, Partner Andrew Wayness brings important news of changing tax treatment for double cab pick-ups, outlining the considerable implications for both employers and employees. In February 2024, HMRC announced that double cab pick-up trucks would be treated as cars for tax purposes, and then swiftly did a U-turn on this decision following industry...

It has been clear for some time that Capital Gains tax (CGT) was going to be targeted by Chancellor Rachel Reeves at the Budget. But it is of some comfort that the rates of CGT the Chancellor announced did not increase to much higher levels. Partner Kenny Adamson provides the details. The eventual outcome will...

Trusts can be an extremely useful planning tool for inheritance tax purposes, as well as for family and business succession planning. Partner Christiaan Hansen looks at how trusts and inheritance tax interact as well as outlining the issues and benefits. Tax is one benefit, but preservation of the family assets is another potential advantage of...

Partner Kenny Adamson provides the answers in this month’s Q&A. In which tax year do I declare my dividend payments? Q. I receive dividend payments. The next dividend payment date is 25 April 2025. Would I include this in my 2024/25 tax return, or based on the payment date should it be declared in my...

When starting a new business, most people don’t give much thought to its end at this point. However, after a number of years, even a small one-person business may have built up a valuable customer list and a goodwill value. It is therefore important that a business owner should consider how and when they might...

“To qualify as a furnished holiday let, properties: • must be available for short-term letting to the public for 210 days and actually let for 105 days or more in each tax year. • should not be used as a long-term let of over 31 days for significant periods. The distinction for a furnished holiday...

As the owner of a medium-sized company, you are keen to start a company car scheme for senior staff which encourages them to switch to vehicles with lower emissions. But what tax factors should they be aware of, and could salary sacrifice be the most efficient approach?  Audrey Rankine explains in this article. In line...

One of the more tax efficient ways of reducing a company’s tax bill and increase the amount of money withdrawn at the same time, is by paying salary to a member of the director’s family. This could be the director’s spouse or children at university. Partner Joanne Gibson advises in this article. Another good reason...

Partner Andrew Wayness provides the answers in this month’s Q&A. Is a charity’s loss-making event exempt from VAT? Q. We are a charity that is registered for VAT. We recently held a fundraising event, treating the income as being exempt from VAT, but the event made a loss. Should we treat the income as standard-rated...

You have agreed to reimburse part of an employee’s broadband bill for when they work from home. HMRC’s guidance says that although this is a business expense, you must deduct PAYE tax and NI from anything you pay. Why is this and can it be avoided?  Audrey Rankine advises. Generally, employers can reimburse or pay...