Personal Finances

If you are a taxpayer and you are concerned that you cannot pay your tax bill on time, you have the option to set up an online “time to pay” arrangement with HMRC.  This means you can spread the cost of you tax bill over a period of 6-12 months, helping improve cash flow.

2025 has been a mixed year, so far. The winners of 2023 and 2024 are not currently faring so well, with US stocks lagging behind Europe and the UK as the “Magnificent 7” technology companies decline in value.

It is widely anticipated that HMRC enquiry levels will start to increase in the coming months as the new Government continue to face budgetary pressures.  Therefore, if you do not currently have cover, we suggest you give this service some consideration.

4 March 2025

A Rollercoaster Start to the Year -
2025 has begun with the market’s focus flipping between different topics at a lightning pace. Firstly, government bond yields spiked higher and created alarm about budget deficits. However, lower inflation data made those fears subside and led to a strong rally...

We are at a point in time where US stocks are dominating all others, in terms of both their outright size and the strength of their returns. In 2024, the MSCI USA index gained 24.6%, almost double the 12.4% return achieved by the rest of the world (MSCI World ex-USA). However, 2025 does bring a mixed outlook for unemployment and inflation, in the US and elsewhere, therefore it will be interesting to see if investment returns can remain so strong in the coming year.

Greaves West & Ayre recently held two successful and well-attended Port Budget Rural Seminars.

As you may be aware, in February 2024 HMRC proposed a change in relation to the tax treatment of double cab pick-ups for both capital allowances and benefit in kind (BIK) purposes. They then quickly changed their mind around a week later and decided not to implement the changes. However, following the most recent Budget the Government have again decided these changes should be put in place.

Wednesday 5 April 2025 sees the end of the current Tax Year. Following the new Chancellor's plans to continue to freeze
and in some cases reduce tax-free allowances; it is more important than ever to make the most of some timely tax planning.

Shona Robison delivered her second Scottish Budget as Finance Secretary yesterday, 4 December 2024. We round up some of the highlights in our Scottish Budget review.

Reminder – we would like to prompt all our clients to submit your accounts and personal tax records to…

Yesterday, Chancellor Rachel Reeves delivered her Autumn Statement. We have sifted through the details and hope the following review, which we feel will be the most significant to our clients, will be helpful.