September 2023

News Posted

Pension contributions for your partner

29th September 2023
A business associate says he gets a tax break by getting his company to pay a pension contribution for his spouse who’s currently not working. Is this something you should consider?  Head of Payroll and Partner Joanne Gibson takes a closer look below. You are possibly aware that individuals aged under 75 can, in theory,...

VAT on land?

26th September 2023
You have a deal with a local farmer, giving you first refusal to purchase ten acres of land including buildings if the farmer decides to sell it in the next ten years. Is the farmer right to charge VAT on the fee and can you claim input tax? Vat expert John Craig explains below. A...

Can you claim VAT on invoices in own name?

7th September 2023
It’s common for directors and employees to buy things for the company in their own name or to use their personal Amazon account for convenience. The problem is that the invoice is then addressed to them and not the company. Can you claim the VAT back?  VAT Expert John Craig provides the answer. The key...

IHT and ‘Gift with Reservation’ rules

7th September 2023
You want to reduce the potential inheritance tax (IHT) on your estate. An acquaintance has suggested transferring ownership of your home to your children. HMRC rules say that this does not work if you still live in it. Is there a way to legitimately avoid this the rule?  Find out more from Head of Tax...
Joanne Gibson, Partner JRWCA

Do you check your NI contributions?

6th September 2023
NI contributions are crucial to your entitlement to the state pension and other benefits, so it’s a very good idea to keep a close eye on them. But how can you identify and check if you’ve overpaid or underpaid contributions?  Head of Payroll Department Joanne Gibson brings you up to date. Whilst HMRC keeps a...

New payment option for VAT

4th September 2023
If a business can’t pay the VAT it owes on time, a new time-to-pay option could provide some breathing space. Who can take advantage and how can it be applied for?  Naomi Swan explains. If a business cannot pay its VAT on time and owes less than £20,000, it is now possible to set up...
Kenny Logan, Associate JRW

Benefits v dividends?

1st September 2023
As an owner manager of a company, taking income from it in the most tax and NI-efficient way is probably a top priority. The general view is that dividends are the best option, but when might benefits in kind be better?  Kenny Logan from our Edinburgh office takes a closer look. Benefits in kind are...