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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...

Vacancy – Experienced Accounts Staff

13th February 2024
Required due to continued growth JRW Hogg & Thorburn are recruiting Experienced Accounts Staff to assist primarily with accounts preparation for limited companies, sole traders and partnerships. Previous experience of professional accounts production software and procedures essential. Experience of Iris accounts production software an advantage. A team player with excellent interpersonal, time management and organisational...

Get ready for changes to UK company law

2nd February 2024
“Companies House is an executive agency of the Department for Business and Trade. We incorporate and dissolve limited companies. We register company information and make it available to the public. We are approaching a pivotal moment in our history. The Economic Crime and Corporate Transparency (ECCT) Act will fundamentally change our role and our purpose...

The tax implications of writing off a loan

31st January 2024
The Managing Director of a company, who is also the main shareholder, has given loans of £25,000 to the company to support it through the economic downturn. The company’s losses for the latest year end are £30,000. As the director’s loan is currently showing as a liability, the director is considering writing it off to...

The gift of capital allowances

30th January 2024
You received a new laptop for Christmas which you will use for work. Even though it cost you nothing, can you claim a tax deduction in respect of the business use?  Kenny Logan from our Edinburgh office provides the answer below. A gift with extra benefit It’s nice to receive gifts and apart from thanking...