Straight from the horse’s mouth

Exit strategy

1st October 2024
When starting a new business, most people don’t give much thought to its end at this point. However, after a number of years, even a small one-person business may have built up a valuable customer list and a goodwill value. It is therefore important that a business owner should consider how and when they might...

Employment and payroll changes to be aware of

27th September 2024
Whilst we now have a new UK government; employers, payroll and employment professionals should still be aware that there are several pieces of primary employment legislation due to come into force later this year. Most of these will have an impact on payroll. Partner Joanne Gibson outlines this new legislation and what it will mean...
An update on furnished holiday lettings

An update on furnished holiday lettings

16th September 2024
“To qualify as a furnished holiday let, properties: • must be available for short-term letting to the public for 210 days and actually let for 105 days or more in each tax year. • should not be used as a long-term let of over 31 days for significant periods. The distinction for a furnished holiday...
A greener company car scheme?

A greener company car scheme?

5th September 2024
As the owner of a medium-sized company, you are keen to start a company car scheme for senior staff which encourages them to switch to vehicles with lower emissions. But what tax factors should they be aware of, and could salary sacrifice be the most efficient approach?  Audrey Rankine explains in this article. In line...

Recruitment Opportunities

13th August 2024
With an ever-growing client base, we are looking to expand our team across various departments. As a business, we focus on exceeding our clients’ expectations and adding value to them in a commercially effective way. It is therefore essential that candidates have this same outlook. About JRW Hogg & Thorburn As one of the largest...

Speculated changes – Autumn Budget 30th October

6th August 2024
The Chancellor has indicated that the government will raise taxes in October’s Budget, citing a £22bn ‘hole’ in public finances as the reason. When asked about potential tax increases in the Budget, Rachel Reeves replied: “I think that we will have to increase taxes”. She reaffirmed Labour’s manifesto promise not to increase income tax, National...

Paying salary to a family member

3rd August 2024
One of the more tax efficient ways of reducing a company’s tax bill and increase the amount of money withdrawn at the same time, is by paying salary to a member of the director’s family. This could be the director’s spouse or children at university. Partner Joanne Gibson advises in this article. Another good reason...

Is the sale of old equipment VATable?

2nd August 2024
John sold a machine which he had used in his business before he was VAT registered. He was told that he should have charged VAT on the sale and that he must now account for it out of the proceeds. Is this true? Partner Kevin Ferguson discusses in this article. When a VAT registered business...

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...

August Q&A

1st August 2024
Partner Andrew Wayness provides the answers in this month’s Q&A. Is a charity’s loss-making event exempt from VAT? Q. We are a charity that is registered for VAT. We recently held a fundraising event, treating the income as being exempt from VAT, but the event made a loss. Should we treat the income as standard-rated...