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Acquisition of Judge & Co

We are delighted to announce that we have acquired the practice of Judge & Co, Chartered Accountants, of Glasgow with immediate effect. Judge & Co was founded in 1999 and serves over 200 clients across Scotland, providing personal tax and accounting services, very similar to our existing clients. The clients and staff of Judge will…

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Changes to dividend tax

Dividend tax is changing We have circulated a newsletter for clients to outline the changes in dividend tax which will occur in April 2016, and you can download a copy of the newsletter by clicking here. This is an attempt to provide some more detailed information which cannot really be covered in the newsletter, and…

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Limiting access to Altinn?

If you have received a letter this week from DIFI (who manage the electronic systems for Skatteetaten), you might think that your access to Altinn may be being limited significantly. You would be right. A copy of such a letter can be accessed here, by clicking this link. What is happening is that Skatteetaten will…

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Auto Enrolment penalties surge

The number of businesses fined for not complying with auto enrolment pension rules surged between October and the end of December last year. The Pensions Regulator (TPR) said that it made 1,021 £400 fixed-penalty notices between 1 October and 31 December on employers that did not automatically put workers into a pension scheme. In the previous quarter it made…

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Years of farming losses disallowed

Years of successive losses disqualified farmer from loss relief The First-tier Tax Tribunal has refused to allow trading tax relief on the losses of a farmer’s sheep-breeding business, because it had made a loss in several successive years and so had no ‘reasonable expectation of profit’ as required by s68 of the Income Tax Act…

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Disqualified director

In very rare circumstances, it is possible for an individual to be disqualified as a director of any limited company. This can arise where the company has been badly mismanaged; where someone has continued to trade and lose money for their creditors, when they should have taken professional advice; where large sums of taxes remain…

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Scottish Rate of Income Tax

I read this article in the Tips & Advice Tax newsletter. I think it might be of interest to you too. Scottish tax and your employees The Scottish rate of income tax (SRIT) comes into force on 6 April 2016. As an employer how might it affect you? New rules. Some Scottish taxpayers will pay…

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Buy to let loans

Buy to let – How to keep the tax relief Over the four years starting on 6 April 2017 tax relief at higher rates will be progressively phased out for interest on loans which were used to purchase buy-to-let residential properties. From 6 April 2021 the maximum rate of tax relief available will be the…

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SA302 – tax computations

How to get an SA302 for the Building Society The following is the update from HMRC contained in the Agent Update 48, at pages 11 and 12.  It is dry, but very important if you are seeking a mortgage.   HMRC’s online Self Assessment documents to support loan and mortgage applications As we move into…

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How to double your Annual Investment Allowance

At present the Annual Investment Allowance is £500,000, but it is due to be cut to £25,000 from 1 January 2016.  Is there a possible way to legally increase your claim? Changes to the AIA As you probably know, the annual investment allowance (AIA) is a tax break that means you can claim the full…

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