You are planning to upgrade your company’s IT equipment. Naturally your company will get tax relief for the purchases but what is the tax position if you sell or scrap the old equipment?  Partner Joanne Gibson advises. Instead of taking the equipment to the tip, you are going to sell the old IT equipment to...

Susan is a self-employed childminder. She is planning to have an extension built on her home, in which she’ll run her childminding business. Susan would like to know if she is entitled to a tax deduction for any of the construction costs. Partner and Tax Specialist, Christiaan Hansen, looks at the implications below. Homeworking Tax...

From 1 April 2023, companies with profits in excess of £50,000 will see their corporation tax liabilities increase. This also means that relievable expenses will be more valuable, so what can you do to save as much as possible? Kenny Logan from our Edinburgh office explains. New rates From 1 April 2023 a new set...

Despite the financial pressures caused by the pandemic, the government has gone ahead with the planned extension to tax breaks for environmentally friendly vehicles. What might this mean for your business? Bob Johnstone advises. Businesses wanting to take advantage of the capital allowances (CAs) tax break for environmentally friendly cars and other vehicles have been...

The business you started a couple of years ago has grown, so you’ve formed a company to take over the trade. What steps can you take to make the transition smooth and tax efficient? For small businesses tax savings can be made by operating through a company rather being unincorporated, i.e. a sole trader or...

There’s more than one rule which determines the type of tax relief you can claim for capital expenditure in a property rental business. Different rules can apply from year to year. But which can you claim and how can you ensure maximum relief? Brona MacDougall takes a closer look. Generally, it doesn’t matter what type...