Skip to content

Quality Advice Quality Service

Show / hide the search form Menu

GWA Community News and Staff News

COMMUNITY NEWS –

As we look forward to Spring and the lighter, brighter days ahead, we round up what has been a busy few months as we came to the end of 2023 and welcomed the New Year. Our support of local causes, initiatives and hosting of our own events has been as busy as ever…

In the run up to Christmas all three of our offices were drop off points for the Mission Christmas Cash for Kids campaign. Thank you to all our clients and staff who dropped off gifts and supported this great initiative.

 

In January 2024 we welcomed Amanda Simmister from the Great North Air Ambulance Service (GNAAS) to our Berwick upon Tweed Office. Amanda was presented with donations by GWA staff. We raised £361.25 from our annual Christmas Jumper Day on 15 December 2023. The total amount of ongoing funds raised to date, is an impressive £3,500.00 

Some of our staff joined Amanda for a bracing walk around the town’s Elizabethan Walls as part of the GNAAS Walk the Wall 2024 Challenge.

 

 

 

 

 

Well done to everyone who has played a part in raising these much-needed funds over the years!

 

 

In February we supported Berwick Races – Point to Point. We have recently renewed our sponsorship of both Minto Golf Club and Magdalene Fields Golf Club.

STAFF NEWS – 

As always, we are delighted to welcome new members of staff to our growing Team. We have recently welcomed several new Apprentices to our Berwick Office – Emma Scott, Sam Rogers, Tyla Spouse & Ely Benz-Toreno.

Catriona Robertson returned to our Tax Team in December 2023 and Callum Ellsbury joined as Admin within our Wealth Management Team in January.

Through our own Staff Community Outreach Initiative, we have supported:

• Berwick Scooter Boys’ Ride of Remembrance [British Legion], nominated by Angela Bruce

• Chirnside Junior Football Club, nominated by David Renton

• Tweedmouth Prior Park First School, nominated by Alan Potts

• Eyemouth Food Bank, nominated by Becky Wilson

• Glendale Curling Club, nominated by Lindsay Dalgliesh

Dates for the Diary –

Back to News and Events

News and Events

Abolition of the Furnished Holiday Lettings Regime

The favourable tax regime for Furnished Holiday Lettings (FHLs) was first introduced in 1984. Forty years later, in the Spring 2024 Budget the then Chancellor of the Exchequer, Jeremy Hunt announced its abolition from 6 April 2025.

Employers’ National Insurance Contributions (NICs)

The biggest revenue raiser in the Budget was the changes to NICs. The increase in Employers’ NICs (increasing from 13.8% to 15% from April 2025) grabbed many of the headlines. What has been largely overlooked is the reduction in “Secondary Threshold” from £9,100 to £5,000. Allied to the increase in the National Living Wage, the changes will particularly affect those in the care, retail, hospitality and cleaning/maintenance sectors.

Inheritance Tax

It is difficult to recollect a more seismic Budget in recent times. The last major changes to Inheritance Tax were made in 2006, but mainly in relation to Trusts. There was an expectation that Inheritance Tax reliefs would be reformed, most likely for landlords who lease out land which qualifies for Agricultural Property Relief (APR). It was considered much less likely that Business Property Relief (BPR) would be reformed, and there was a distinct lack of speculation in this regard.

End of Year Tax Planning

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.