Mar 16 2023 Spring Budget and furnished holiday lets Categories: Leisure On 15 March, Chancellor Jeremy Hunt delivered his Spring Budget 2023 which he coined as a “Budget for Growth”. However, the only announcement that directly impacted furnished holiday let (FHL) operators was to the pension changes. Profits made from FHLs are treated as ‘Earned Income’ for tax purposes meaning you are entitled to pay more more
Mar 6 2023 The Kreston Charities Report 2023 Categories: Charities Following the recent UK-wide survey, our EQ Charities team are happy to share the results in our Kreston Charities Report 2023. EQ are members of Kreston Global, a network of independent accounting firms with a presence in over 120 countries worldwide. The Kreston UK Charity Group works with more than 2,000 charities of various sizes offering a range more
Feb 16 2023 New year clear out – what you shouldn’t get rid of Categories: Healthcare The start of a new year is often a great opportunity to clear your home and office of things you may no longer need. However, when running your own business, there are items you shouldn’t dispose of. If you are an associate dentist who prepares a tax return each year, your records should be kept more
Feb 10 2023 Have your say in the restriction of alcohol advertising and promotion consultation Categories: Food & Drink In November 2022, the Scottish Government launched its consultation paper seeking views on potential restrictions to alcohol advertising and promotion in Scotland. The paper covers a wide range of potential restrictions on all of the major sources of exposure to alcohol advertising and promotion in Scotland, including advertising outdoors, in-store, and through sports and events more
Feb 7 2023 How we are supporting our clients, Innes Johnston Solicitors Categories: Professions There’s more to accounting than simply calculating numbers. Having a good accountant allows you to focus on the future of your business while also taking care of your business needs in the present. Providing accounting, tax and advisory services for solicitors and legal professionals requires an additional level of understanding of the rules and regulations more
Feb 3 2023 New Pension Recycling Scheme available for eligible NHS staff Categories: Healthcare In October 2022, the Cabinet Secretary for Health and Social Care wrote to NHS Boards offering them local flexibilities within NHS Pension arrangements, including the option of ‘pension recycling’ to assist with maintaining service delivery. Pension recycling is where employees have opted out of the NHS Pension Scheme for tax reasons and are paid any more
Jan 27 2023 Capital allowance claims for furnished holiday lets Categories: Leisure UK staycations are expected to continue in popularity in 2023 as the cost-of-living crisis drives consumers to cut back on holiday spending and opt for shorter breaks in UK. Furnished Holiday Lets (FHLs) offer several tax benefits which are not available to traditional buy-to-let businesses. These include full mortgage interest relief, pensions relief (FHL profits more
Jan 24 2023 Is your practice’s ‘lockup’ under control? Categories: Professions Benchmarking surveys typically suggest average lockup for legal practices of up to 130 days, or in other words well over 4 months, with less efficient practices exceeding this already high level. Lockup is the total value of unbilled work in progress plus debtor balances remaining unpaid. In effect, this represents working capital requirements. As the more