Read our latest Practice News as well as sector specific and accountancy updates from across the UK.

ATED Its not just brown envelopes which interest HMRC now

ATED – the background The acronym ATED stands for Annual Tax on Enveloped Dwellings.  This is an annual tax levied on residential dwellings worth more than a certain value that are owned, wholly or partly, by a non-natural person (company, partnership with a corporate partner or collective investment scheme).  It was introduced in April 2013 […]

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Voluntary Payrolling of Benefits in Kind

From April 2016 employers will be able to include taxable benefits as part of an employee’s pay and thus account for PAYE on the benefits. In order to payroll benefits, employers will have to register with HMRC for the service via the Government Gateway before the start of the new tax year. Unfortunately agents are […]

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Dividends – Attention director-shareholders – profit extraction issues

A key advantage of trading as a company is that the owners, who are generally both shareholders and directors, only suffer tax and NIC on any profits extracted from the company, so any profits retained in the company are sheltered from personal tax rates. If funds are required to reinvest into the business or to […]

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Property income and interest relief

The surprise announcement in the Summer Budget 2015 restricting income tax relief for interest costs incurred by landlords of residential properties became law in November 2015. Any hopes that the Chancellor would change his mind were dashed in the Autumn Statement in December when additional charges to Stamp Duty Land Tax on purchases and acceleration […]

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Partner Retires after 42 Years – Peter Ayre

Peter Ayre, one of the firm’s senior partners, retired on 31 March 2016.  He has been with the firm since January 1974, having left school in Edinburgh.  Peter was born in Berwick and was educated at Holy Trinity, Cargilfield and Fettes.  He was actually an employee of the firm when he went to Cambridge for […]

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