You have joined a firm as a partner and the new role requires you to work from home. You’ve read that you can claim a tax deduction for your household expenses, but how much are you entitled to claim? Helen Johnstone looks at the options and implications. Self-employed homeworker In this article we focus on...

It is a pleasure to bring you this special summer tax update.

You have recently started out as a subcontractor in the construction industry. But were surprised to find that out you had tax deducted from your first payment. Is gross payment status worth applying for? Tax partner Kenny Adamson, explains the position. Construction industry scheme The construction industry scheme (CIS) applies to most construction work. The...

You recently bought a small farm and you plan to renovate the farmhouse, which you and your family will then occupy as your home. You have been told you can claim a tax deduction for 70% of the renovation costs. Is this correct? Partner Vivien Hogg explains. You plan to leave the city for a...

You have sold your business and are looking to invest the proceeds. Someone has suggested buying woodlands as a good opportunity because they come with financial incentives. But what are they? Kenny Adamson, Tax Partner highlights the opportunities. Investing in land With economic uncertainty starting to affect stock markets, investing in land seems to be...

The government is planning a change that it says could save thousands of taxpayers from having to file a self-assessment tax return. What’s the full story?  Partner Kenny Adamson has the full story.

You are planning to make gifts to your children to reduce the inheritance tax (IHT) burden for your estate. But to achieve this you’ll either need to sell assets to raise the cash or gift them. But how does any resulting capital gains tax (CGT) impact on IHT planning?  Partner and Tax expert Kenny Adamson...

One of your firm’s directors is retiring soon and the board want to pay him a lump sum to reward his long service. However, this type of ‘golden handshake’ is usually taxable. Is there a more tax-efficient alternative?   Partner Kenny Adamson provides the answer.

Sub-letting trading premises, should we charge VAT? Q. The landlord of our trading premises charges VAT on our monthly rent, and we claim input tax. We are planning to sub-let one of the floors to another business but are not sure if we should also charge VAT? If we don’t, does this mean we will...

Your business has purchased a commercial vehicle to transport goods to your customers but there will be some private use at weekends. Must you apportion input tax on the purchase price and ongoing costs to reflect the private use? Partner, Alister Biggar, discusses here in this article.