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...

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...

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...

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...

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...

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...

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...

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...

You are considering leasing instead of purchasing cars for your business. This will improve cash flow and, according to the salesperson, allow you to reclaim VAT that you would not otherwise be entitled to. Is this correct?  Naomi Swan explains the rules. Generally, VAT paid on the purchase of cars for use in your business...

Although the Chancellor announced an increase to the VAT registration limit in the Spring Budget 2024, it was fairly modest. As a service business if your turnover exceeds the new limit, can you legitimately avoid having to register?  Associate Jayne Rogerson discusses the implications. Until 1 April 2024, the VAT registration turnover threshold had been...