News by Category

Tax relief for home broadband?

2nd May 2024
You have agreed to reimburse part of an employee’s broadband bill for when they work from home. HMRC’s guidance says that although this is a business expense, you must deduct PAYE tax and NI from anything you pay. Why is this and can it be avoided?  Audrey Rankine advises. Generally, employers can reimburse or pay...

Overseas business trip with the family – is it taxable?

1st May 2024
You are making an overseas trip for business and have decided to take your husband and two children, so they can holiday while you are working. The question is, can you put the expense through the company and if so, are there any tax considerations?  Kirsten Hancock looks at the implications. The answer to the...

Christiaan becomes newest Partner at JRW Hogg & Thorburn

23rd April 2024
JRW Hogg & Thorburn have just announced the appointment of a new Partner in the firm. Christiaan Hansen, who is based at the firm’s Hawick office, is a tax specialist with particular interest in Inheritance Tax planning and business restructuring, as well as assisting on Trust and Estate related tax matters. Originally from Cape Town...

How to provide uniforms tax efficiently

31st January 2024
You pay a clothing allowance to your customer-facing staff and your business pays their PAYE tax and NI. You are considering providing the clothing direct as you recently read that it’s more tax efficient than paying an allowance. Is this correct?  Naomi Swan discusses below. Cash allowance versus reimbursed expense Generally, if you pay one...

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...

Is there tax on your side-hustle?

15th January 2024
HMRC is getting better at detecting and penalising people who make extra income but don’t declare it. With that in mind if you have a small side venture to make some extra cash, is it always necessary to declare it to HMRC?  Audrey Rankine outlines the details in this article. Naturally, HMRC is interested in...

Under-radar changes to be aware of

9th January 2024
The National Insurance cuts in the 2023 Autumn Statement grabbed the headlines, but there were a number of other changes also announced. What were the most important to be aware of?  Naomi Swan outlines the changes in this article. Self-assessment The criteria to be met for an individual to fall within self-assessment have been changed....
Rental Unit

Pros and cons of charging your company rent

5th December 2023
If you own the trading premises of your business, charging rent can be a good way to extract income. The trouble is it can increase any capital gains tax (CGT) payable if you sell the property. Can the income tax saving justify the extra CGT? Kenny Logan from our Edinburgh office takes a closer look....
business startup

A little help from your friends

30th November 2023
You have been offered financial donations from friends and family to help start your new business. If it’s a success, you plan to reward them. What would the tax position be for the business and the donors?  Kenny Logan from our Edinburgh office explains. It’s far from unusual for close relatives and occasionally friends to...
Basis Period Reform

Basis Period Reform

7th November 2023
The way we allocate profits to tax years for sole traders and partnership businesses has change in the 2023/24 tax year. The current system used to allocate profits was designed in the 1920s and creates a situation whereby businesses that do not have an accounting period that is aligned with the tax year may pay...