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
Aug 13 2018 More rooms at the Inn! Categories: Leisure A recent survey by Savills indicates that the first 6 months of 2018 saw investment in Scottish hotels of £390m, double the total of the full year before. Concerns over Brexit, a weak pound and the terrific weather has meant a tourism boom for Scotland as more people decide to stay at home for their more
Jul 24 2018 Gearing up for a sale Categories: Corporate FinanceLeisure EQ has recently began acting on behalf of a leading food and drink producer based in Scotland. The business decided to make the move after feeling that they had outgrown their existing advisors. At the initial meeting, the owner advised that a sale of one of their premier brands was a real possibility, though not more
Jul 17 2018 We are proud to co-sponsor Angus Brewfest alongside Thorntons Categories: EQ NewsLeisure Forfar’s answer to Oktoberfest has secured sponsorship from two local firms for this year’s festival, namely EQ Chartered Accountants and Thorntons Solicitors. Angus Brewfest is an annual food and drinks festival in Forfar which offers a vast selection of beer and non-alcoholic drinks from Scottish brewers and producers – many of which are local to more
Jul 6 2018 Restructuring of local hotel and restaurant in Fife Categories: Corporate FinanceLeisure Our Leisure specialists have recently assisted in the successful restructuring of a hotel/restaurant in the north of Fife. The business operates through a limited company, and EQ were on hand to assist when one of its shareholders was looking to sell their stake in the business. EQ facilitated a management buy out of the shares more
Sep 18 2017 Working with Clayton Caravan Park Categories: Leisure When it comes to childhood memories, especially of holidays, many of us can reflect on happy days spent in caravans. The appeal was down to the ‘home from home’, but also the freedom we enjoyed, the friends we made and the familiarity of returning to a place we loved. Memories such as these are being more
Aug 29 2017 Inheritance tax relief of Furnished Holiday Lets receives another blow Categories: LeisureTaxation A recent tax case before the First Tier Tribunal has poured further doubt on the availability of inheritance tax relief on properties let as furnished holiday accommodation (FHLs). Business Property Relief (BPR) can provide 100% relief against inheritance tax where a business activity is deemed to be “wholly or mainly trading”. If a business activity more
Aug 15 2017 Are you missing tax allowable business costs? Categories: Leisure Common deductible expenses within the Leisure industry include; advertising costs, telephone bills, heating and lighting costs, council tax, certain professional fees, general repairs, gardening costs, cleaning items, insurance, relevant membership subscriptions, crockery, cutlery, and bed linen to name a few. Don’t forget you may claim travel expenses of up to 45p per mile for travelling more
