Feb 17 2021 The VAT deferral new payment scheme Categories: COVID-19Taxation As mentioned in our previous article, businesses that deferred their VAT payments due between 20 March to 30 June 2020 can opt-in to the VAT deferral new payment scheme. The VAT deferral new payment scheme allows you to make interest free equal payments over a number of instalments, from 2 to 11, depending on when you join more
Feb 16 2021 Getting the right support for your agricultural business Categories: AgricultureTaxation Different businesses will have different tax issues to consider whether those issues relate to VAT, Income Tax, Capital Gains Tax, Inheritance Tax (IHT) or in some cases, all of these. An example of this is an equestrian business, whose tax needs would depend on whether it is a diversified part of a larger family business, more
Jan 28 2021 Main announcements from the Scottish Budget 2021 Categories: Taxation On 28 January, Finance Secretary Kate Forbes delivered the Scottish Budget for 2021/22. A year after the first case of COVID-19 was confirmed in Scotland, the focus of this Budget was on providing support and stability in the immediate term. We’ve highlighted the main announcements below: Strategic Framework Business Fund (SFBF) will continue to support more
Jan 5 2021 Coronavirus Job Retention Scheme – Deadline Dates Categories: COVID-19EQ AccountingPayroll It was announced on 17 December that the Coronavirus Job Retention Scheme (CJRS) will be extended until the end of April 2021. The criteria will remain unchanged, following the same guidelines that are currently in place with the government continuing to pay 80% of unworked hours for furloughed employees, up to £2,500 per month. If you intend to use the more
Dec 17 2020 Further extension to furlough and loan schemes Categories: COVID-19EQ Accounting The Chancellor, Rishi Sunak, has announced that the Coronavirus Job Retention Scheme (CJRS) will be extended by one month, until the end of April 2021. The criteria will remain unchanged, following the same guidelines that are currently in place with the government continuing to pay 80% of unworked hours for furloughed employees, up to £2,500 more
Dec 14 2020 We supported Dunedin Advisory to transition to an Employee Ownership Trust Categories: ProfessionsTaxation We have assisted restructuring and insolvency specialists Dunedin Advisory in their transition to become an Employee Ownership Trust (EOT). Since making the decision to become an EOT, the firm’s staff have fully engaged in the goal of strengthening and developing not only the business but their future personal development too. With offices in Dundee, Glenrothes and Glasgow, Dunedin more
Dec 9 2020 Is your architecture firm ‘missing out’ on securing R&D tax relief? Categories: ProfessionsTaxation Architecture firms can often use experimental processes to achieve the desired outcome for their projects, yet many are missing out on a tax relief which rewards the very thing that many within the architecture industry consider to be just ‘part of the process’. Research and Development (R&D) tax credits are a government-backed initiative designed to encourage more
Dec 2 2020 Corporate Finance activity in holiday park sector Categories: Corporate FinanceLeisure At EQ, we act as specialist holiday park advisers to the sector and are members of the British Homes and Holiday Park Association (BH&HPA). Despite the ongoing pandemic, we’ve seen a variety of activity within the sector over the last 6 months, particularly in relation to financing development or acquisitions. We’ve summarised the main themes more