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[…]

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[…]

Off payroll public sector workers – is it worth it?

If you provide services for the public sector, you could be paying double taxation on your PAYE/NIC.   The Public Sector Body assesses the status of a contract when it is awarded to a company, or when the first payment after 6 April 2017 is made. This assessment will normally involve HMRC’s employment status tool and[…]

Taking the Pain out of Payroll

Many businesses and their employees are aware of the legislation surrounding auto-enrolment for pensions. Indeed, the ‘staging’ dates for bigger companies have already come and gone, so quite a few lessons have been picked up along the way. Perhaps your own date still lies ahead, but you’ve talked to your IFA and identified a provider?[…]

Money laundering: your role in stopping the criminals

It’s not just accountancy firms and tax officials who have obligations in relation to money laundering, writes Derek Grant, MMG Archbold Partner. HMRC expects many others to play a role too. As you might guess, your accountant is expected to be on the look-out for potential money laundering and is obliged to report suspicious activity[…]