Latest News

Filtered By Category: Leisure

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

Jun 15 2017

Annual Tax on Enveloped Dwellings

Categories: LeisureTaxation

Do you own your FHL property through a limited company or mixed member partnership? If so, and any one property is valued at more than £500,000 then you will have been required to complete and submit an ‘Annual Tax on Enveloped Dwellings’ (ATED) return by 30 April. Relief from the ATED charge, which starts at more

Apr 26 2017

Major study highlights importance of self-catering business in Scotland

Categories: Leisure

The Association of Scotland’s Self-Caterers (ASSC), of which EQ are delighted to be Trade Supplier members, have published a major study which demonstrates the value of the self-catering sector to the Scottish economy. The study’s key findings include that there are approximately 17,000 self-catering let properties in Scotland which cater for 3.4 million visitor nights more

Mar 22 2017

Are you looking for ways to save time in your business?

Categories: Amber AccountingLeisure

We have found that the level of automation available from using accounting software, such as Xero, benefits a business by reducing the time taken to process the books and records. Take Bank Rules as an example, they are an important tool when processing bank transactions. These allow the user to define how recurring entries should more