The Benefits of Online Accounting

  MMG Archbold is a fully accredited Quickbooks Accountancy. Here are some of the benefits of using online accounting, specifically Quickbooks:   Accessible Users can access the software remotely to view reports and review the organisation’s finances. The app is also available for your smartphone or tablet You can add unlimited users with different levels[…]

Making Tax Digital – what you need to know.

  Why are we making tax digital? Her Majesty’s Revenue and Customs (HMRC) proposes to move to a fully digital based tax system. By the end of the 2020/21 tax year the way that businesses, including landlords, currently interact and liaise with HMRC will change beyond all recognition. This initiative is known as “Making Tax[…]

Cutting the cost of childcare

  For the majority of working parents, especially those with preschool children, the cost of good childcare can be a significant monthly expense, often in excess of the cost of a mortgage. There isn’t much you can do to reduce the cost of childcare, however, there are currently two schemes which can help reduce the[…]

How to choose a financial advisor

Are you searching for the best financial advisor Dundee has to offer for your personal or business finances – or both? If so, it helps to know what you should expect and how to determine who is right for you. This article offers some information on the role of a financial advisor and what to[…]

Scottish Tax Rates 2018/19

On 20 February 2018 the Scottish Parliament passed its Budget Bill for 2018/19 which saw the introduction of five tax bands for non-savings income. This includes earned income and benefits, profits from self-employment, rental profits and pension income (including State Pension). The Scottish tax rates do not apply to dividend or savings income as these[…]

The Residence Nil Rate Band and Downsizing

Downsizing your home can come at a cost.   The Residence Nil Rate Band (RNRB) did not initially include provisions for downsizing. But, following a consultation, new provisions were introduced for those downsizing their home after 8 July 2015. These provisions take account of downsizing in two cases:- The deceased downsized to a lower value[…]

The Residence Nil Rate Band

It’s important that your accountant is there to give you the best advice when you need it, in good times and in bad. When a loved one passes away it can bring a number of important decisions that will affect the surviving family. That is why it’s important to develop a relationship with your accountant[…]

New Scottish Income Tax Rates and Bands

From 6 April 2018, new Scottish income tax rates and thresholds will apply:   Income (£) Name Rate (%) Below £11,850* N/A 0 £11,850** – £13,850 Starter 19 £13,851 – £24,000 Basic 20 £24,001 – £44,273 Intermediate 21 £44,274 – £150,000*** Higher 41 Above £150,000*** Top 46   *No tax is payable on income below[…]