In this article, Partner Andrew Wayness brings important news of changing tax treatment for double cab pick-ups, outlining the considerable implications for both employers and employees. In February 2024, HMRC announced that double cab pick-up trucks would be treated as cars for tax purposes, and then swiftly did a U-turn on this decision following industry...

HMRC is encouraging anyone who hasn’t yet downloaded their free and secure HMRC app, to “do one thing and get on it today”. As part of a major advertising campaign, HMRC are urging all taxpayers to “Do One Thing” and get on the HMRC app to save time and simplify managing their money and tax....

It has been clear for some time that Capital Gains tax (CGT) was going to be targeted by Chancellor Rachel Reeves at the Budget. But it is of some comfort that the rates of CGT the Chancellor announced did not increase to much higher levels. Partner Kenny Adamson provides the details. The eventual outcome will...

Trusts can be an extremely useful planning tool for inheritance tax purposes, as well as for family and business succession planning. Partner Christiaan Hansen looks at how trusts and inheritance tax interact as well as outlining the issues and benefits. Tax is one benefit, but preservation of the family assets is another potential advantage of...

When someone buys a business, they have the option of retaining the VAT number. But what are the pros and cons of doing so? Kenny Logan from our Edinburgh Office looks at the implications. If someone buys the trade and assets of a VAT-registered business, it can be treated as ‘transfer of a going concern’...

Partner Kenny Adamson provides the answers in this month’s Q&A. In which tax year do I declare my dividend payments? Q. I receive dividend payments. The next dividend payment date is 25 April 2025. Would I include this in my 2024/25 tax return, or based on the payment date should it be declared in my...

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...

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...

“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...

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...