Dec 7 2021 The Taxation Basis Period Reform – be prepared! Categories: Professions The draft Finance Bill 2022 includes a major change to how partnerships and sole practitioners are taxed and will impact on many professional practices. The proposals will mean that income tax will be based on actual profits arising in a tax year to 5th April rather than profits in the accounting year ending in the more
Oct 7 2021 Pay freeze for trainee solicitors Categories: Professions Businesses have faced one of the most difficult trading periods in recent memory with many firms continuing to feel the effects of the coronavirus pandemic. As restrictions continue to ease, we have seen a recent upturn in business for some practices but the constant pressure of controlling their costs during these uncertain times has led more
Dec 14 2020 We supported Dunedin Advisory to transition to an Employee Ownership Trust Categories: ProfessionsTaxation We have assisted restructuring and insolvency specialists Dunedin Advisory in their transition to become an Employee Ownership Trust (EOT). Since making the decision to become an EOT, the firm’s staff have fully engaged in the goal of strengthening and developing not only the business but their future personal development too. With offices in Dundee, Glenrothes and Glasgow, Dunedin more
Dec 9 2020 Is your architecture firm ‘missing out’ on securing R&D tax relief? Categories: ProfessionsTaxation Architecture firms can often use experimental processes to achieve the desired outcome for their projects, yet many are missing out on a tax relief which rewards the very thing that many within the architecture industry consider to be just ‘part of the process’. Research and Development (R&D) tax credits are a government-backed initiative designed to encourage more
Apr 30 2020 Law Society of Scotland announce £2.2m financial support for Scottish solicitors Categories: COVID-19Professions In response to many in the solicitor profession feeling the financial impact of COVID-19, the Law Society of Scotland yesterday announced a £2.2 million financial support package for Scottish solicitors. The professional body’s governing council has agreed that for the 2020/21 practice year: the practicing certificate (PC) fee for every solicitor will be reduced by 20%, more
Apr 24 2020 Land register applications new digital submission service Categories: Professions As discussed in our previous article, Registers of Scotland (RoS) have been working on a new framework for the short-term house sales that were due to be concluded. From Monday 27 April, legal professionals can now upload land register applications via the RoS new digital submission service. The digital submission service deliberately mirrors existing paper more
Mar 26 2020 The impact of COVID-19 on the professions sector Categories: COVID-19Professions Our EQ Professions specialists are maintaining regular discussions with our clients who are experiencing the unprecedented effects of the current COVID-19 pandemic. Discussions to date have looked at areas such as: Managing credit risk wherever possible and being up-front with clients about fees to set expectations Managing costs and spreading those over a longer period Liaison more
Feb 25 2020 Corporate Finance Deal Done! Categories: Corporate FinanceProfessions Our client is a long established Financial Planning business with over 30 years in the field. With offices in several locations across Scotland, their business provides independent financial advice on savings, investments, insurance and retirement to clients privately and on a corporate level. What type of work was involved? EQ assisted in the purchase of more
