Jan 18 2019 Making Tax Digital – How does it impact the construction industry? Categories: Making Tax DigitalProperty & Construction Now that the festivities are over, and the new year is here, January is a month where we start thinking about the year ahead. One of the biggest changes, from a tax perspective, is the introduction of Making Tax Digital (MTD) from 1 April 2019. The attitude that many were taking was that HMRC would more
Jan 17 2019 Research & Development Claim Settled! Categories: Taxation Our team recently completed two Research & Development (R&D) claims for an architects practice in Scotland, resulting in a client saving of £27,501! During the 16 month R&D claim period, the company undertook some ground breaking design work relating to infrastructure projects in the UK to create some highly innovative solutions. The detailed design work more
Jan 16 2019 Self assessment deadline approaching Categories: Taxation The deadline for submitting your 2017/18 self assessment tax return is 31 January 2019. This is the same deadline for payment of any balancing tax payments for 2017/18 (including income tax, Class 2 and Class 4 NIC, capital gains tax and High Income Child Benefit Charge), together with first payments on account (POA) for 2018/19. more
Jan 10 2019 Making Tax Digital – FAQ’s Categories: EQ AccountingMaking Tax DigitalTaxation We are now fast approaching the first stage of implementation for HM Revenue & Customs’ (HMRC’s) Making Tax Digital. Making Tax Digital (MTD) aims to provide a simpler and up-to-date system for taxpayers, by requiring most businesses, including sole traders and landlords, to maintain their accounting records on computer software. This should enable HMRC to more
Jan 9 2019 We have secured over £16 million of tax savings for clients Categories: TaxationTechnology We have claimed over £16M of Research and Development tax credits for our clients, having recently secured our 300th claim which can potentially apply to any companies developing or creating new products, innovations or processes. Managed by our specialist team of seven, we handle over 65 claims each year. During the last eight years, we have more
Jan 1 2019 Key Scottish Tax Dates Categories: Taxation Currently, the UK key tax dates cover all the known dates that will affect Scotland and Scottish tax payers. If and when these do differ, they will be detailed below with planned dates. This will include the Scottish Budget and any other tax related dates that affect Scotland. If you are looking for something specific, more
Dec 14 2018 Tartan Tweaks – Scottish Budget 2018 Categories: Taxation Wednesday afternoon saw Scottish Finance Secretary, Derek Mackay, deliver his Scottish Budget address. You’ll recall the UK Chancellor raising the limits for the basic rate band for 2019/20 to £50,000, but the Finance Secretary decided to leave the Scottish basic rate band at £43,430. His justification for this was to raise additional tax revenues though more
Dec 10 2018 Would Cloud Accounting benefit your business? Categories: LeisureMaking Tax Digital From this April, the current government’s intention to bring Making Tax Digital (MTD) for all businesses, including sole traders and landlords, with a turnover above the VAT threshold (currently £85,000) to keep digital records for VAT purposes comes into force. This means that manual record keeping for VAT registered businesses will no longer be acceptable more