Jun 8 2016 Ceremony room hire not VAT exempt Categories: Leisure A recent First Tier Tribunal VAT case has highlighted the need for hotels and other wedding venues to ensure that the correct VAT treatment is applied to the hire of a room for a wedding ceremony. In the case of Blue Chip Hotels Limited vs Revenue & Customs Commissioners the tribunal heard that the hotel more
May 31 2016 Fife Cheq of Commerce appoint new President Categories: People At last week’s AGM, Peter Southcott, partner in EQ’s Glenrothes office was appointed as new President of Fife Cheq of Commerce for a term of 2 years. Peter has been involved with the Fife Cheq of Commerce for a number of years, including latterly as vice president. Peter’s ambition is to help the Cheq become more
May 31 2016 EQ take part in the RSABI Great Glen Challenge Categories: Agriculture The RSABI Great Glen Challenge is in its 5th year, and 2016 will be the first year in which EQ has entered a team. This year’s event is taking place on Friday 26 August 2016 with a route spanning from Fort Augustus to Fort William while raising money for RSABI. Each member of the team more
May 31 2016 Farms and the Additional Dwellings Supplement Categories: Agriculture Land and Buildings Transaction Tax (LBTT) replaced Stamp Duty Land Tax (SDLT) in Scotland from April 2015 and careful consideration needs to be given when purchasing a farm which includes residential properties due to the recent introduction of the Additional Dwellings Supplement (ADS) on second properties. When calculating LBTT on the purchase of a farm more
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