May 2 2022 Should I change my year end date? Categories: Leisure With confirmation that the basis period reform is going ahead as planned, it could impact many FHL businesses, where they trade as unincorporated businesses (sole trade or partnerships) and who do not use 5 April or 31 March as their accounting date. From 6 April 2024, profits and losses of sole traders and partnerships will more
Apr 4 2022 VAT for hospitality businesses has reverted to the standard rate of 20% Categories: LeisureTaxation The VAT reduction, which was first introduced for businesses trading in the hospitality sector in June 2020, ended on Thursday 31 March with the VAT rate reverting to its original rate of 20%. The reduction in VAT was given to VAT-registered businesses from the hospitality, hotel, and holiday accommodation sectors to financially support them during more
Mar 24 2022 The Omicron Business Support Fund Categories: COVID-19Leisure Earlier this year, Scottish Tourism Minister, Ivan McKee, announced details of a financial package worth up to £9 million for Scotland’s vital tourism sector. The top-up payments were given to recipients of previous VisitScotland funding and were designed to recognise the loss of revenue specifically between 8 December 2021 and 21 January 2022 in the following areas: coach operators more
Mar 14 2022 Retaining key staff in the leisure sector Categories: Leisure For many years, it has been difficult to recruit and retain key staff in the leisure sector and the impact of Brexit has simply exacerbated the problem. Having high staff turnover can be costly and it is now more important than ever for leisure businesses to elevate their efforts to recruit and retain the best more
Feb 1 2022 Further funding support available for Scottish Food & Drink businesses Categories: COVID-19Food & Drink The Scottish Government has released details on two funding opportunities available for food & drink businesses that were affected by the control measures put in place in December 2021. The applications are now open for the £2 million Scottish Food & Drink Producers Fund and a further round of the Scottish Wholesale Food & Drink more
Dec 17 2021 Further funding for hospitality and leisure businesses Categories: COVID-19Leisure Following the latest Public Health Scotland (PHS) advice to postpone work Christmas parties and limit the amount of social contact with other households, many hospitality businesses have seen countless numbers of cancellations at one of their busiest times of the year. To offer financial support to those affected, the Scottish Government has announced an update on the support more
Dec 14 2021 Changes to NDR revaluations Categories: Leisure In response to concerns with the non-domestic rates (NDR) system in Scotland, the First Minister established an independent review group (the Barclay Review) in 2016 to consider how the rates system could better support business growth and long-term investment, and reflect changing market places. As a result of this review, the Non-Domestic Rates (Scotland) Act more
Nov 16 2021 How can your food & drink businesses focus on sustainability? Categories: Food & Drink We attended Brodie’s Food and Drink Virtual Conference today and it was interesting to hear the speakers, along with everyone else following COP26, discussing sustainability in food & drink businesses. While there were many issues highlighted, the main one to consider is what can you do to appeal to this additional part of the market. more