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High Income Child Benefit charge

Anyone who is responsible for a child should claim Child Benefit at a rate of £20.70 per week for the first child, and £13.70 for each subsequent child.  What’s quoted are the 2018/19 rates and changes should be updated on the HMRC Child Benefit pages once they occur. If more than one person is looking…

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Capital Gains Tax and PPR relief

How to avoid capital gains on PPR

Capital Gains Tax is chargeable on all gains, including your Principal Private Residence (“PPR”), but there are some allowances and deductions which can reduce the tax you have to pay. We were recently asked by a client who had been working abroad about the tax liability on her UK home, which she had now returned…

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Scottish Asian Business Awards

Sponsors of the Asian Business Awards

Nicolson Accountancy were delighted to have sponsored an award at the 2017 Scottish Asian Business Awards. It is always an excellent night for us to celebrate the business success and business acumen of the Asian community in Scotland.  The venue of the Crowne Plaza, Glasgow, was superb and because of this the excellent atmosphere made…

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OSCR accounts are an advert

Nicolson Accountancy work with OSCR

For a few years now we have been advising our clients to treat their OSCR accounts as advertisements for their activities. Now OSCR are giving exactly the same advice. OSCR say… “Did you know that if you publish your accounts on your website or Facebook , we can include this link on your Scottish Charity…

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CIS Refunds

HMRC logo

Over the past 18 months, Kirstyn Campbell has been very busy in our office preparing, submitting and managing CIS Refunds for new clients, and clients we acquired through acquisition. She has worked exceptionally hard at gathering the information, especially as some of the claims were outstanding for the last four years, due to the previous…

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Victory at a VAT Tribunal

Angus Nicolson recently represented a client at a VAT Tribunal.  The following is an anonymised account of what happened. The agent told the taxpayer that they should have been registered for VAT much earlier; and they, the agents, had failed to notice this when preparing the previous accounts and tax return. A registration application was…

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Limited Cost Traders – FRS VAT implications for FRS

The new limited cost trader category – updated A new flat rate category for limited cost traders will be introduced on 1 April 2017. What are the detailed rules, and are there ways to avoid having to apply the new punitive rate? Background The proposed changes to the flat rate scheme (FRS) that were announced…

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Cyber Security – keeping your data safe

At Nicolson Accountancy we take our Cyber Security very seriously and it is a key part of our business. We know your data is precious so that when you send us information we want you to know that we always keep it safe and secure. We continually invest our time and money in new hardware and…

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Scottish Tax rates differ from the rest of the UK

In the Scottish Budget today, Finance Secretary Derek MacKay set the Scottish Tax levels.  He announced that the higher rate tax band for individuals resident in Scotland would not increase by as much as that in the rest of the UK. This is part of the devolution settlement which allows the Scottish Parliament to vary…

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British Accountancy Awards – we were winners!

Sue and Angus attended the British Accountancy Awards in The Brewery, London this week, where Nicolson Accountancy was selected as the “Independent Firm of the year – Scotland“. We were obviously delighted to have been selected, and it is a huge reflection of the hard work of the entire team that we have been recognised…

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