Should I buy or lease a vehicle for my business? As your business grows, you may find you or your team are required to spend more time out on the road. You know you need to add extra vehicles to your setup as you keep expanding, but should you lease or buy a vehicle for […]
Tag: Tax
Tax
After a somewhat turbulent year of news, and following some lowkey Christmases in terms of social functions, we expect a number of businesses will be celebrating in style come this festive season. As Christmas approaches, clients often ask “What Christmas expenses can I claim for my business?”. The following guidelines break down the parameters of […]
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Can I buy clothes through my business?
“Can I buy clothes through my business?” asked Jamie, a client, as we were having a coffee last week. “I’m back in the office now, and the client meetings are stacking up. And 2 years of working at home means I’ve put on a few pounds!” Sadly I had to tell Jamie the bad news. […]
Did you know that you can claim business mileage for riding your bike at work? Here is how to get fit, save tax, and protect the environment. Do you use a bike at work to go and visit customers, suppliers or your Accountant? A little know fact is that you can claim business mileage for […]
As human beings we are very good at putting things off and not asking for help when we need it. Chris tells the tale of a learning a painful lesson (and a broken finger) Chris writes: I’ve learned a lesson on procrastination and not asking for help when I needed it. A couple of weeks […]
Do you run a Creative or Digital Business? One Accounting is a firm of tech-savvy, award-winning Chartered Management Accountants based in Edinburgh. Click to know more! Do you run a Creative or Digital Business? The government has released a 10-point plan to follow in the event of a no-deal Brexit. If you have customers in […]
The new relief – replacement of domestic items relief – is wider than its predecessor in that its application is not restricted to furnished lettings. Until the end of the 2015/16 tax year, landlords letting furnished properties were able to claim an automatic deduction of 10% of net rents to cover the cost of replacing […]
Can I employ a family member in my business? How much should I pay them? What are the pitfalls to avoid? Many small businesses, whether incorporated or not, pay family members for working for the business. However, as a recent case shows, it is easy to make mistakes which can prove costly. The case in […]
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Radical Changes to Scottish Tax Rates
Scotland’s Finance Secretary has announced radical changes to income tax rates for 2018/19. These will affect Scottish taxpayers, and their employers, all over UK. What’s the full story? More or less tax? In his budget of 14th December, Scotland’s Finance Secretary made a big deal about cutting the tax bill for 55% of Scottish taxpayers […]
A loan trust can be used as a vehicle to save inheritance tax, whilst retaining the ability to access the funds lent to the trust. A loan trust can be used as a vehicle to save inheritance tax, whilst retaining the ability to access the funds lent to the trust. How does it work? There […]