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Filtered By Category: Specialisms

Sep 14 2018

Updated HMRC guidance on grants versus consideration for a supply

Categories: Charities

One contentious area in the world of VAT is the treatment of funding received by charities. This matters because grant income is non-business in nature and outside the scope of VAT. Thus, no VAT will be payable but there may also be VAT recovery implications. On the other hand, if the funding is consideration for more

Sep 11 2018

Taxation on separation and divorce

Categories: ProfessionsTaxation

Tax is not always at the forefront of a couples mind when dealing with the unpleasant business of a separation or divorce. However, if ignored there could be unintended consequences and costs on the division of assets. Whilst married, assets can be transferred between spouses with no capital gains tax payable. This particular relief does more

Aug 20 2018

Is there a succession issue across professional practices?

Categories: Professions

A recent article published by ICAS suggests that businesses in the professions sector are facing a shortage of leadership talent for the future. The article highlights the generational shift in-play and suggests that millennial values are at odds with the traditional partnership structure: where trainees work their way up through the ranks. 71% of the more

Aug 13 2018

1976 all over again?

Categories: Agriculture

With prices rising across a range of commodities Scott Greig looks at potential ways to manage the tax issues following from improved profitability. Many are already likening 2018 to 1976 when, for those old enough to remember, a prolonged drought led to reduced potato yields which was more than compensated for by a sharp increase 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

Aug 6 2018

Buying or buying into a dental practice

Categories: Healthcare

Becoming a practice owner is probably one of the biggest challenges and whilst success can never be guaranteed, seeking the best professional advice is the only way to ensure that the odds are stacked in your favour. EQ acts for a considerable number of dental practices and we pride ourselves on our understanding of the more

Aug 3 2018

Ambitious attitude in life science sector

Categories: Technology

Achieving scale and being ambitious are the main priorities for organisations operating within the Life Science sector according to a recent survey carried out by Life Sciences Scotland. Nearly a quarter of the businesses taking part said that increasing turnover was their main focus. Collaboration to take plans to the next level and turning intellectual more

Jul 31 2018

Recognising profits and losses on construction contracts

Categories: Property & Construction

With a number of high profile construction companies recently going in to liquidation, it is a reminder that no matter what size of business you are, the need to keep accurate financial records on your construction contracts is paramount. Outcome if the contract can be estimated reliably If the outcome of a construction contract can more