Latest News

Apr 18 2024

Salaried Partners – Changes to HMRC guidance

Categories: EQ AccountingTaxation

In November we reminded you about the tax treatment of salaried partners following the case of Bluecrest Capital Management (UK) LLP v HMRC. Following that case HMRC have updated their published guidance.  As a recap, rules came into force back in 2014 deeming certain members of a Limited Liability Partnership (LLP) as employees if the more

Apr 10 2024

EQ & Douglas Home & Co. Merger

Categories: EQ News

After joining Sumer at the end of 2023 and announcing our objectives to treble turnover over the next five years, we’re pleased to announce as part of the first phase of our strategic expansion, the merger of EQ with Douglas Home & Co.   “From our first conversations, it was immediately evident our working styles more

Mar 27 2024

Future tax changes affecting GPs 

Categories: HealthcareTaxation

In the age of tighter margin, Scottish GP practices should make sure they are reviewing the partner current accounts regularly and project into the future to ensure they remain positive. This will be even more crucial with the basis period changes for tax as well as the normal retirement and changes in partners.   Going forward, more

Mar 27 2024

A short-term win for GP parents 

Categories: HealthcareTaxation

Where many GP’s income is above £60,000 and they therefore have not claimed child benefit or stopped payments, it may be time to re-start them.  The chancellor announced in his budget recently that the threshold will increase to £60,000 for any claw back and the tapering will increase to £80,000. This means that as long more

Mar 20 2024

National Living Wage changes from 1 April 2024

Categories: Payroll

The National Living Wage (NLW) and the National Minimum Wage (NMW) are increasing from 1 April 2024. This is the largest ever monetary increase in the minimum wage in the 25 years since the introduction of the NMW, increasing by more than £1. In addition, workers aged 21 and over will also now be entitled more