Latest News

Filtered By Category: Taxation

Oct 3 2018

Paying the penalty

Categories: Taxation

Revenue Scotland recently released their 2017-18 Annual Report and Financial Statements, announcing an 11% increase in revenue for devolved taxes, Land and Buildings Transaction Tax (LBTT) and Scottish Landfill Tax (SLfT), from the previous year. They also announced that more than £1.7m of penalties were issued within the year – a 500% increase on 2016-2017 – more

Sep 17 2018

Platinum seal of approval

Categories: Amber AccountingMaking Tax Digital

With just over six months to go until Making Tax Digital (MTD) legislation comes into effect across the UK, we are delighted to be awarded the status of Xero Platinum Champion Partner, the highest possible commendation for our commitment to service innovation and staff development.  Xero is Britain’s leading online accountancy software, one of many more

Sep 14 2018

Are you ready for Making Tax Digital?

Categories: Amber AccountingMaking Tax Digital

HMRC have embarked on a massive project, Making Tax Digital (MTD), to insist that most businesses, including sole traders and landlords, keep their accounting records using computer software. The aim is that the software will automatically update HMRC with relevant data on their business income and expenses on a quarterly basis. From April 2019 VAT more

Sep 11 2018

Taxation on separation and divorce

Categories: ProfessionsTaxation

Tax is not always at the forefront of a couples mind when dealing with the unpleasant business of a separation or divorce. However, if ignored there could be unintended consequences and costs on the division of assets. Whilst married, assets can be transferred between spouses with no capital gains tax payable. This particular relief does more

May 14 2018

Do you have money or assets abroad?

Categories: International TaxTaxation

HM Revenue & Customs (HMRC) are getting tougher on those not paying the correct amount of tax on their worldwide income. They are now receiving financial information from more than 100 jurisdictions, including details about overseas bank accounts, business structures, trusts and investments. They are already using the information supplied by overseas banks, insurers and more

May 9 2018

EQ are finalists for the Tax Team of the Year Award!

Categories: Taxation

We are thrilled to announce that we have been shortlisted for the Tax Team of the Year award category at the Business Insider Scottish Accountancy and Finance Awards 2018. Now in their 11th year, the awards recognise achievement in the accountancy and finance sector, rewarding quality, commitment and innovation. We were required to illustrate the more

Mar 20 2018

Tribunal rules BBC journalist is caught by ‘IR35’ legislation

Categories: Taxation

A First Tier Tribunal has ruled that Christa Ackroyd who presented BBC news programme Look North and was paid via a personal service company was caught by the IR35 rules resulting in additional tax and national insurance contributions being payable. The IR35 rules in broad terms mean that those working via a personal service company more