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02 Nov 23

Do you need to pay tax when you sell your home?

In general, there is no Capital Gains Tax (CGT) when you sell your home. This applies to a property which has been used as the main family residence. An investment property which

02 Nov 23

Trusts and Income Tax

A trust is an obligation that binds a trustee, an individual or a company to deal with the trust assets, such as land, money and shares, and which form part of the trust. The

02 Nov 23

Taxable gains on gifts

Gift Hold-Over Relief is a tax relief that effectively defers Capital Gains Tax (CGT). The relief can be claimed when assets are given away (including certain shares) or sold for

01 Nov 23

Back of an envelope

If you run a business and manage your planning by scribbling notes on the back of an envelope, you might be advised to read the contents of this article. When the economy is

01 Nov 23

Cash flow v supplier credit limits

In a recent article we explained how granting lengthy credit limits to customers was as good as letting them keep your money in their bank account. In this post we describe the

25 Oct 23

Countdown to Self-Assessment filing deadline

There are now less than 100 days to file your 2022-23 Self-Assessment tax return online. The deadline is 31 January 2024. The deadline for paper returns ended on 31 October

25 Oct 23

Scottish council tax frozen

Humza Yousaf, Scotland's First Minister, has announced that council tax rates will be frozen in the next financial year to support people struggling with the effects of high

25 Oct 23

Self-Assessment scam warning

Fraudsters are continuing to target taxpayers with scam emails in advance of the deadline for the submission of Self-Assessment returns for the 2022-23 tax year. In the 12 months

25 Oct 23

Tax free annual party

The cost of a staff party or other annual entertainment is generally allowed as a deduction for tax purposes. If you meet the various criteria outlined below, then there is no

25 Oct 23

Replacement of domestic items relief

The replacement of domestic items relief enables landlords to claim tax relief when they replace movable furniture, furnishings, household appliances and kitchenware in a rental