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Filtered By Category: Taxation

Apr 8 2019

New Tax Year

Categories: Taxation

Saturday (6 April 2019) was the start of the new 2019/20 tax year, bringing into effect changes to income tax bands and allowances. The personal allowance is now £12,500, up £650 from £11,850 in 2018/19. However, there remains a reduction in the personal allowance for those with ‘adjusted net income’ over £100,000. The reduction is more

Apr 2 2019

EQ celebrate significant growth over the last five years

Categories: EQ NewsTaxation

We are delighted to be celebrating significant growth, with an increase in turnover to £7.5M, compared to £3.8M in 2014 – almost 95% in just five years. During the same period, our staff numbers have grown from 70 to 130. While a proportion of our growth can be attributed to the acquisition of offices in Fife more

Mar 14 2019

Research & Development Claim Settled!

Categories: Taxation

Our team recently completed two Research & Development (R&D) claims for an engineering client based in the East of Scotland, resulting in a client saving of £156,386! Our client is researching and developing wind energy technology for offshore installation. The work performed by our client is all pre-revenue and is primarily engineering conceptual work and design more

Mar 13 2019

Spring Statement Commentary

Categories: Taxation

Chancellor, Philip Hammond, delivered his brief Spring Statement earlier today which was met with the usual mix of back slapping and derision in equal measures, intensified no doubt by the spectre of Brexit. Carrots were dangled with post Brexit bonuses in the event of a deal being struck, particularly given the UK’s encouraging borrowing figures. more

Mar 7 2019

Research & Development Claim Settled!

Categories: Taxation

Our team recently completed a Research & Development (R&D) claim for a client based in the West of Scotland, resulting in a client saving of £23,400! Our client is a University spin out company specialising in the design and development of tactile sensory technology. During the year of claim, the company was involved in several qualifying more

Mar 1 2019

HMRC Delay Issuing Self Assessment Penalty Notices

Categories: Personal TaxTaxation

More than 11.5 million taxpayers were required to file their Self Assessment Tax Return by midnight on 31 January, and according to HMRC, a record 93.68% submitted on time. However, there were still 731,186 taxpayers who missed the deadline. As part of EU Exit contingency planning, HMRC have decided to make a change to the more

Feb 21 2019

Innovation from HMRC: R&D tax credit online service

Categories: Taxation

On 11 February 2019, HMRC launched a simplified, digital approach for SMEs to submit Research and Development (R&D) Tax Credit claims. The new online template clearly details the information needed to support the claim which is then sent to HMRC in a standardised format, thereby making it easier for some companies to claim and HMRC to more