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May 29 2016

Land and Buildings Transaction Tax Levy

Categories: Taxation

Are you considering purchasing a second property as a buy-to-let or as a second home? If so then you may be liable to a new 3% levy on the purchase price of the property which comes into effect from 1 April 2016. In Scotland, Land and Buildings Transaction Tax (LBTT) replaced UK Stamp Duty Land more

May 25 2016

Significant Changes to the Taxation of Residential Property

Categories: Taxation

Individuals who own and let property are facing significant changes to the way in which their rental income is taxed and also to the deductions they can make from their rents. There are new increases in certain allowances and additional surcharges due on the purchase of second homes so we would advise you to review more

May 17 2016

Long term solutions or sticking plasters?

Categories: Taxation

Chancellor, George Osborne, delivered his latest Budget on 16 March in the midst of some uncertainty in the global marketplace. He adopted a bullish stance to illustrate the government’s track record to date and signalled his intentions for the rest of the Parliament. His “vote grabbing” measures included a proposed drop in corporation tax to more

Mar 9 2016

National living wage

Categories: Amber AccountingPayroll

The new national living wage will come into effect on 1 April 2016 for workers aged 25 and over, to be paid a minimum of £7.20 per hour. The National Minimum Wage will continue to apply for those aged 21 to 24. In Scotland there is also a voluntary rate of £8.25 for all workers more

Mar 1 2016

Annual Post Budget Analysis 20161st March 2016

Categories: Taxation

Tax is an increasing burden on many individuals and businesses and good tax planning must form part of your own cost management. With that in mind, we are holding our Annual Post Budget Analysis on Friday 18 March 2016. To reserve your place please email christine.sewell@eqaccountants.co.uk indicating which venue you would like to attend:- Rothes more

Feb 11 2016

Personal allowance 2016/17

Categories: Amber AccountingPayroll

The basic personal allowance for 2016/17 is £11,000. This means that the starting point for PAYE will be £211.54 per week (£916.67 per month) and the new emergency tax code will be 1100L.

Feb 11 2016

Payroll Year end 2015/16

Categories: Amber AccountingPayroll

With April fast approaching, time should be taken to familiarise yourself with Year End filing procedures and deadlines. HM Revenue & Customs have produced this step-by-step guide to follow. Please follow this link www.gov.uk/payroll-annual-reporting. To ensure compliance with the latest HM Revenue & Customs requirements, please contact Lynne Vaughan or Jane Russell on 01382 312140.

Feb 11 2016

Scottish Rate of Income Tax

Categories: Amber AccountingPayroll

From 6 April 2016, you’ll pay the Scottish rate of income tax if you live in Scotland. This means some of your income tax will be paid to the Scottish Government. It applies to your wages, pension and most other taxable income. Your personal allowance – the amount of income you don’t pay tax on more