Straight from the horse’s mouth

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...

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...

VAT and personalised number plates

3rd July 2024
You’ve purchased an expensive personalised number plate which included VAT.  A business associate has told you that because the registration number has a connection with the business, you can reclaim the VAT.  Are they correct?  Bruce Currie takes a closer look below. VAT claim allowed Unlike VAT paid on the purchase of cars, there’s no...

An update on home to work travel

2nd July 2024
HMRC has changed its guidance on home to work travel costs where an employee’s home is their workplace. How might this affect your right to tax relief? Naomi Swan brings you a detailed update. Tax experts have been saying for years that HMRC’s guidance on tax relief for travel costs needed updating to cover the...

Practice Accounts Senior – Peebles

20th June 2024
With an ever-growing client base, we are looking to recruit an experienced accounts senior in our Peebles office. 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. What we are looking for: Practice Accounts...

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...

Pensions for seasonal staff?

28th May 2024
According to The Pensions Regulator, there are employers who take on seasonal or other temporary workers who are not following the workplace pension rules correctly. If you hire short-term workers, what steps should you be taking?  Pamela Singh advises. Summer is of course a peak time for taking on seasonal staff. One thing you should...