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Filtered By Category: Taxation

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

Mar 20 2018

Advisory fuel rates for company cars

Categories: EQ NewsTaxation

New company car advisory fuel rates have been published which take effect from 1 March 2018. The guidance states: ‘You can use the previous rates for up to one month from the date the new rates apply’. The rates only apply to employees using a company car. The advisory fuel rates for journeys undertaken on more

Mar 14 2018

The wonderful thing about tiggers…

Categories: Taxation

The Chancellor delivered his Spring Statement yesterday proclaiming that he felt full of bounce like Tigger due to the current position in the UK economy. Whilst there was no doubt much of that was political grandstanding, it was good to see the normally grey, Eeyore like, Chancellor carrying an air of optimism during his speech. more

Feb 27 2018

Revised income tax bands in Scotland

Categories: Taxation

As if tax wasn’t taxing enough, how will the Scottish public be certain if they have paid the correct amount of tax on their wages or pension now that we will have 7 different rates of tax on earnings? Add in National Insurance and the number increases to 9. Previously, proposals (as published in our more

Feb 16 2018

Tax planning for professionals – our top tips

Categories: ProfessionsTaxation

With over two months until the end of the financial year (ended 5 April 2018), there is still time to take action to reduce future income tax liabilities or take advantage of annual allowances. Take a look at our points to consider, ahead of the new financial year below: • Have you maximised your annual more

Feb 12 2018

Construction companies could be missing out on thousands of £s of tax relief

Categories: ConstructionTaxation

Research & Development (R&D) tax credits are available to limited companies subject to UK corporation tax, yet take up of the relief is lacking amongst SME’s, particularly within the construction sector. Construction companies often do not consider these claims applicable to them. However, due to the continuous innovation and bespoke solutions provided by the construction more