Oct 5 2022 Income Tax Basis Period Reform – call to action! Categories: ProfessionsTaxation From the 2024/25 tax year, all business profits subject to income tax will be assessed on profits arising in the tax year rather than profits in the accounting period ending in the tax year. Don’t be fooled into assuming 2024/25 is far enough away to put this on the back burner. The change actually commences more
Sep 30 2022 The future of vet practice sales Categories: Healthcare In 2022, the Competition and Markets Authority (CMA) blocked the sales of UK veterinary practices to larger corporates as these businesses would control a significant proportion of the veterinary services in particular geographical area, raising competition concerns. As stated by the CMA, this “would result in too many vets’ practices in the same area being more
Sep 29 2022 How we are supporting our clients, Dalnoid Cottages & Treehouses Categories: Leisure It is important that your accountant is knowledgeable and understands the complexities specific to your industry. Our EQ Leisure specialists have extensive experience of supporting their leisure clients and are proud members of many Scottish leisure governing bodies. Our Partner and Head of EQ Leisure, Scott Greig, often talks at ASSC webinars and after his more
Sep 22 2022 Recovering VAT from Residential Property Refurbishments Categories: Property & ConstructionTaxation In most cases, VAT incurred on the refurbishment of residential property is not recoverable. However, there are some instances where it may be possible to reclaim some of the VAT. In this article, we will look at residential properties that are purchased, renovated and then either let out or sold. Generally, property costs for maintaining, more
Sep 21 2022 Is your charity using the right software? Categories: Charities Charities can often suffer from a lack of investment in digital technologies, which is often attributed to tight control on expenditure. We’re finding a number of our charity clients are affected by the upcoming end-of-life status of various Sage products on 30 September 2022 and QuickBooks Desktop on 1 February 2023. This can result in more
Sep 20 2022 The Low Carbon Manufacturing Challenge Fund Categories: Engineering & Manufacturing To support Scottish manufacturing businesses who are looking to help speed up the transition to a low carbon economy, the Scottish Government is offering grant funding as part of Making Scotland’s Future activity. The Low Carbon Manufacturing Challenge Fund (LCMCF) supports Scottish manufacturing businesses looking to grow through developing low carbon products, processes or services. This can more
Sep 6 2022 SIS Growth Challenge Categories: Charities SIS (Social Investment Scotland) has launched another round of the Growth Challenge to support charities and social enterprises with growth plans for 2022/2023 which require funding and would benefit from a flexible loan and grant solution. Successful applicants will have growth aspirations that need £100k+ of loan funding and be able to demonstrate how these more
Aug 31 2022 Take part in a consultation on the Agriculture Bill Categories: Agriculture The Scottish Government is asking for opinions on food production, fair income for farmers and protecting biodiversity for the new Agriculture Bill. The results from this consultation will enable tailored provisions and support to future social, economic, and environmental changes, challenges and opportunities. This consultation is split into 6 parts, reflecting the proposals that are considered for more