Latest News

Jan 26 2022

Less Favoured Area Support Scheme (LFASS) fund restored to £65m

Categories: Agriculture

On 9 December 2021, the Scottish Government confirmed in its Scottish Budget for 2022/23 that the Less Favoured Area Support Scheme (LFASS) 2021 would be restored to 100% of its funding and will be guaranteed to 2024. This returns the scheme’s budget to £65m, an amount last seen in 2018, and will give a much-needed income more

Jan 19 2022

Consider the timing of your machinery purchases

Categories: Agriculture

A routine review of tax planning opportunities for farmers will include a review of cashflow and the timing of planned machinery purchases. The capital allowances which are available on those machinery purchases may be significant and therefore valuable to the business, depending on the type of entity the business is and the rate at which more

Jan 13 2022

Coronavirus Statutory Sick Pay Rebate Scheme to be reintroduced

Categories: Amber Accounting

On 21 December 2021, the UK Government announced that it would temporarily reintroduce the Coronavirus Statutory Sick Pay Rebate Scheme to support employers facing heightened levels of sickness absence due to COVID-19. The Coronavirus Statutory Sick Pay Rebate Scheme will refund small and medium-sized employers’ COVID-related Statutory Sick Pay (SSP) costs for up to two more

Jan 4 2022

A warm welcome to our new Senior Audit Manager

Categories: Audit & ReportingEQ NewsPeople

We are delighted to welcome Greg Stapley as a Senior Audit Manager in our Glenrothes office. Greg joined EQ on Monday 3 January, having previously worked at AAB in Edinburgh as an Audit Senior Manager. Originally from Kent where he qualified with ICAEW in 2004, he is now based in Dunfermline with his wife, two more

Dec 23 2021

2021 review of the construction sector

Categories: Property & Construction

While 2021 has no doubt been a tough year for many construction businesses due to the impact of COVID-19, lockdowns and Brexit, there have also been some unexpected positives. The various lockdowns restrictions have seen homeowners investing their time and money into their properties. Whether it be a new garden room/office, an extension, or a more

Dec 22 2021

Upcoming changes to the Recovery Loan Scheme

Categories: COVID-19

The Recovery Loan Scheme (RLS) launched on 6 April 2021, and is designed to help businesses that have been impacted by COVID-19 to access loans of between £25,000 and £10 million. As a condition of the RLS, the UK Government offers lenders an 80% guarantee for applications, giving lenders confidence to provide financial support to UK more

Dec 20 2021

Bank of England increases interest rate

Categories: EQ News

The Bank of England has raised its base rate from 0.1% to 0.25%, the first increase in three years, to try and tackle growing concerns over inflation. While the rate has increased by only 0.15%, it will add to financial pressure on households with variable-rate mortgages and hit firms with higher borrowing costs. This could more

Dec 17 2021

Further funding for hospitality and leisure businesses

Categories: COVID-19Leisure

Following the latest Public Health Scotland (PHS) advice to postpone work Christmas parties and limit the amount of social contact with other households, many hospitality businesses have seen countless numbers of cancellations at one of their busiest times of the year. To offer financial support to those affected, the Scottish Government has announced an update on the support more