Latest News

May 29 2016

Land and Buildings Transaction Tax Levy

Categories: Taxation

Are you considering purchasing a second property as a buy-to-let or as a second home? If so then you may be liable to a new 3% levy on the purchase price of the property which comes into effect from 1 April 2016. In Scotland, Land and Buildings Transaction Tax (LBTT) replaced UK Stamp Duty Land more

May 25 2016

EQ Leisure advises on major acquisition

Categories: Leisure

EQ Leisure recently advised on a seven figure tourist accommodation acquisition in central Scotland. Our involvement included exploring options for debt finance, structuring of the finance and ownership, VAT and capital taxes planning. EQ Partner, Graeme Davidson commented “We were delighted to be able to assist our client with this ambitious acquisition. Tourism contributes some more

May 25 2016

Significant Changes to the Taxation of Residential Property

Categories: Taxation

Individuals who own and let property are facing significant changes to the way in which their rental income is taxed and also to the deductions they can make from their rents. There are new increases in certain allowances and additional surcharges due on the purchase of second homes so we would advise you to review more

May 24 2016

Trading Activities

Categories: Charities

The Charity Commission has published new practical guidance (CC35) on when and how charities may engage in trading. Unfortunately what constitutes as trading in a charity is not straightforward; however, a key feature of trading is the sale of goods or services. The identification of trading activities is important as trading profits may be taxable more

May 24 2016

Service charge changes

Categories: Leisure

Employers in the hospitality industry could face significant changes in the way they have to handle tips and service charges. The Government has published its Consultation Document which is aimed at addressing concerns regarding the collection and payment of tips and services charges to employees. Some of the proposals could have a major impact on more

May 24 2016

Scottish Hotel Awards – Success of EQ Client

Categories: Leisure

The 13th annual Scottish Hotel Awards, which celebrate the incredible talent and outstanding service found within the Scottish Hotel industry, were held recently at the Sheraton Grand Hotel in Edinburgh and EQ would like to congratulate all the fantastic businesses and individuals who were recognised on the night. Whilst EQ are delighted for all the more

May 20 2016

Case Study on VAT Treatment of Serviced Plots

Categories: Property & Construction

Our client had a few acres of bare land with outline planning permission for 12 houses. He could have sold the bare land to developers and received £1.2m. If he paid for services to be put in and connected up to each plot he would be able to sell the serviced plots for at least more

May 17 2016

Long term solutions or sticking plasters?

Categories: Taxation

Chancellor, George Osborne, delivered his latest Budget on 16 March in the midst of some uncertainty in the global marketplace. He adopted a bullish stance to illustrate the government’s track record to date and signalled his intentions for the rest of the Parliament. His “vote grabbing” measures included a proposed drop in corporation tax to more