Nov 12 2021 Should I incorporate my furnished holiday let business? Categories: Corporate FinanceLeisure Furnished holiday lets (FHLs) can provide a valuable source of income and can help diversify existing business activities. With the COVID-19 pandemic resulting in a substantial increase in “staycations”, FHL and short term let businesses should revaluate their business structure to ensure they are positioned as efficiently as possible to capitalise on the growing market. FHLs more
Oct 1 2021 Business Ventilation Fund Categories: COVID-19Leisure Update: Applications will open the week beginning 22 November 2021. Eligible businesses will be able to claim back costs to improve ventilation of up to £2,500. The Scottish Government has announced a new £25 million Business Ventilation Fund that will help businesses improve ventilation and air quality on their premises where people come into close proximity, such as more
Aug 20 2021 Updated guidance for holiday accommodation providers regarding the reduced VAT Categories: LeisureTaxation The temporary VAT reduction of 5%, introduced back in July 2020, comes to an end on 30 September 2021. To assist with the transition back to the standard rate of VAT, a new reduced rate of 12.5% will then be introduced for six months until 31 March 2022. The rate of VAT is usually based on more
Jul 7 2021 The Tourism Leadership & Recovery Fund Categories: COVID-19Leisure Earlier this year, First Minister Nicola Sturgeon announced a new £25 million tourism recovery programme to support the sector’s recovery from the pandemic. Developed by the Scottish Tourism Emergency Response Group (STERG), in collaboration with members of the Tourism Task Force, the first fund to be launched is the Tourism Leadership & Recovery Fund. The Tourism Leadership more
Jul 2 2021 Is now the time to refinance? Categories: Food & DrinkLeisure The Bank of England base rate is at a historic low of 0.1% making debt as cheap as it has ever been, so the time might be right to review existing debt facilities. With lockdown restrictions continuing to ease, cash will be required to help get businesses back to pre-covid levels and therefore an opportunity more
May 28 2021 Two valuable tax reliefs critical to the food & drink sector Categories: Food & Drink Many in the food and drink sector could be missing out on valuable tax reliefs, which can be used to reinvest back into the business and ensure Scotland’s food and drink industry remains at the forefront of innovation, renowned for its high quality produce worldwide. R&D tax credits and capital allowances are just two examples more
May 12 2021 Supporting our clients, Growers Garden Categories: Food & DrinkLeisure Throughout the pandemic, we have worked hard to support our clients, offering our help and advice at every opportunity to ensure they can weather the storm and come back stronger. One such client is an innovative food manufacturing company that emerged out of East of Scotland Growers, a farmers’ cooperative whose desire was to reduce more
May 4 2021 How we’ve been supporting our clients, M-Line International Coaches Ltd Categories: Corporate FinanceCOVID-19Leisure Last year, despite the ongoing turmoil, we recruited a variety of new clients across Scotland as many businesses felt they weren’t getting the right level of support elsewhere. One of those clients was M-Line International Coaches Ltd, a family business with over 30 years of experience in coach holidays. Like all businesses involved with travel, more