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Are benchmark subsistence rates worth it?

1st August 2024
As an employer, you don’t want to waste time carrying out extra admin tasks, such as processing multiple expenses claims for employees’ subsistence claims. Could benchmark rates provide you with a good alternative? Helen Johnstone from our Galashiels office takes a closer look. As an alternative to reimbursing your employees’ subsistence costs (which might consist...

The trading allowance explained

5th July 2024
If you earn a little income on the side, the trading allowance can exempt it from tax or reduce the amount payable. What types of income does it apply to and how does it work?  Kirsten Hancock explains in this article. In 2017, the government announced two completely new allowances out of the blue: the...

New Companies House fees mean a jump in costs

1st June 2024
With Companies House increasing their fees from 1 May 2024, this will have an impact on every incorporated business in the UK. Kenny Logan from our Edinburgh office looks at the new fees and what these increases will mean. Companies House increase in fees will result in increased costs for all entities registered, including private...

We are Recruiting

31st May 2024
JRW Hogg & Thorburn are Recruiting – Due to our expanding business JRW Hogg & Thorburn are currently looking to recruit across various levels and specialities at the firm. As one of the largest accountancy firms in the South of Scotland, JRW Hogg & Thorburn have a team of accountancy and taxation specialists with a...

New law on tipping

13th May 2024
Tips, service charges or gratuities, whatever they are called, tipping is becoming more and more commonplace in the UK. With that, questions over where those tips actually go have been asked and there is no clear answer, but that won’t be the case for much longer. A new law and statutory Code of Practice on...

HMRC targets cash traders in hot food and catering

30th April 2024
HMRC’s computer system has identified 4,000 traders in the hot food and catering sector that may be under-recording sales. What might this mean for your business, and could the review be extended to other sectors?  Kenny Logan from our Edinburgh office takes a closer look. It is common for HMRC to identify specific trade sectors...

Electronic or paper invoices?

12th March 2024
You have recently switched to electronic invoicing. However, some customers are insisting on paper invoices. Must you comply with these requests?  Elaine Wight answers this question below. While the design and layout of your business invoices is up to you, there are government regulations that require you to include certain information about your business and...

Construction industry scheme – what’s the latest?

11th March 2024
In a move to prevent or at least reduce tax avoidance, changes to the construction industry scheme (CIS) rules takes effect from April 2024. As a contractor or subcontractor in the industry, what do you need to know?  Naomi Swan provides an update in this article. The main aim of the construction industry scheme (CIS)...

To lease or buy?

5th March 2024
Your business is growing and you are considering whether the company should lease or buy new premises. What factors do you need to take into account before making a decision?  Associate Kenny Logan from our Edinburgh office discusses the options in this article. Leasing There are several reasons why it could make more sense for...

Company v bank loans?

1st March 2024
If you need a loan and your company has available cash, is it more tax efficient to borrow from it instead of your bank?  Kenny Logan from our Edinburgh office discusses below. Borrowing interest free cash from your company (that it doesn’t have to borrow to lend to you), instead of via a bank loan...