Blog

payslips explained

Understanding your payslip

20th June | Posted in: Allowances, PAYE & NI, payroll, Pensions, Savings & Investments, Personal Tax, Regulations

YOUR PAYSLIP EXPLAINED Your payslip contains important information, including your National Insurance (NI) number, tax code, employee payroll number as well as your gross and net pay. All employees in...

stamp duty

Stamp Duty on second homes

13th June | Posted in: Properties, Regulations

Since 1 April 2016 there has been a 3% supplementary charge on both Stamp Duty Land Tax (SDLT) and Land & Buildings Transaction Tax (LBTT) payable on the purchase of second and subsequent resid...

Charity Dress Down Days

8th June | Posted in: charity, Community, Company News

We have a ‘dress-down’ day each Friday. Staff are asked for a £1 donation which goes towards our chosen charity for the year. This year the money is going to SMA Support UK. At certain times of t...

fundraising

Fundraising Quiz Night 2017

8th June | Posted in: charity, Community, Company News

We  hosted a fundraising quiz night for SMA Support UK. The event was held at Le Monde, a central hotel/bar in Edinburgh. Our quiz master Colin Cruickshank tested the knowledge of our 15 teams to th...

hmrc tax

HM Revenue and Customs’ computer isn’t always correct...

7th June | Posted in: Company News, PAYE & NI, Personal Tax

HM Revenue and Customs have acknowledged that their software and some commercial software used by accountants doesn’t always come up with the right amount of tax payable! You may have seen this repo...

guest house

Buying a Guest House? – Don’t miss out on hidden tax allowanc...

5th June | Posted in: Allowances, Business Tax, Pensions, Savings & Investments, Planning, Properties

The Guest House and B&B sector is characterised by a significant turnover in business ownership. Business values transferred on change of ownership can be significant and, as ever, there is potent...

real time information

PAYE is changing from May 2017

30th May | Posted in: PAYE & NI, payroll, Personal Tax

An Improvement to Pay As You Earn (PAYE) As part of the preparation for Making Tax Digital, from the end of May 2017 HMRC will use real time information from employers and pension providers to make ad...

plug in vehicles

How your company car can save tax, cash and the planet!

29th May | Posted in: Allowances, Business Tax, Pensions, Savings & Investments, Planning

Is your company planning on purchasing a new vehicle? Is it time to go green? Under current tax rules, low emission cars qualify for 100% tax relief in the year of purchase against profits provided ce...

inheritance tax

Additional inheritance tax (IHT) relief when family home passed o...

16th May | Posted in: Allowances, Government Announcements, Pensions, Savings & Investments, Personal Tax, Planning, Properties

For deaths on or after 6 April 2017 there is now an additional £100,000 inheritance tax (IHT) allowance where the family home is passed on to direct descendants. This additional relief will be incr...

auto enrolment

Should you consider casual workers for Auto Enrolment?

12th May | Posted in: Agricultural, auto enrolment, payroll

My employee is a casual worker – Do I need to consider Auto Enrolment for them? The Auto Enrolment regime is now in full flow with approximately 102,000 small employers (5-49 staff) having staged in...

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