Latest News

Company Car or Private Car – which should I choose?

This is a question I am frequently asked. As you would expect, the answer is never simple.

Firstly, the decision is not purely tax driven. “Purchase price” and cash flows are just as relevant as the tax implications. Secondly, the choice of vehicle may influence the decision with emissions playing a part in the tax treatment. Thirdly, it depends on who I am advising – an employee for which the decision is based purely on their own circumstances or the business owner in which case the impact on the business matters too.

Getting your state pension forecast

This is surprisingly very easy to do and is now available online. You can check when you are entitled to claim your state pension, how much you can expect to receive, what your National Insurance (NI) record is and if you have any gaps in your record which you may want to fill.

Obtaining a state pension forecast could be more relevant to you if you reach state pension age after 6 April 2016. This is because the new State Pension (based on a single flat-rate amount) replaced the old basic State Pension and Additional State Pension system.

Armstrong Watson shortlisted for record number of awards at the National Payroll World Awards

We are delighted to announce that our Payroll and Employee Services team have been shortlisted for five separate awards at the National Payroll world Awards!

Our payroll team are finalists for the following awards:

1.    Payroll team of the year - Service/bureau providers
2.    Sophie Johnson - Payroll rising star
3.    Suzanne Gallagher - Automatic enrolment engagement of the year
4.    Toby Woodhead - Cross functional partnership award
5.    Karen Thomson - Best Leader

Celebrating MSI Month

Whether you are looking to work or do business overseas, own a holiday home or simply want to spend some time experiencing another culture, you may find some aspect of your life crosses country borders.  In terms of tax and accounts that means you need advice and support beyond the UK – which is where our membership of MSI Global Alliance comes in.

Specialist vehicle manufacturer enters administration

Penman Engineering Limited, the Dumfries based developer and manufacturer of specialist vehicles, entered administration on 31 August 2016.  

Team GB Cycling - 5 marginal gains for business owners

Like most of the world I too have been gripped by the fantastic performances at the Rio Olympics by Team GB and in particular the continued domination of the medals by Team GB Cycling. After watching Jason Kenny win his fifth Olympic gold medal I sat back and contemplated what was it that made Team GB Cycling so successful and like many sport innovations how could these be reflected in the modern world of business.

Capital Allowances – commercial property held in pension funds

The common consensus is… pension funds don’t pay tax so why would I want to reduce their tax bill. Well with capital allowances planning you can increase/preserve the future value of your property even if it doesn’t save you any tax. This blog will explain how.

Protection - the importance of the right type of cover

In Part 2 of our articles on protection, we looked at Life Assurance; cover that most people are familiar with, but stand alone this still may not provide the right type of cover for many people, particularly families.

In this edition we examine another common insurance - Critical Illness Cover (CIC for short). Not as many arrange this type of cover, yet claims are four times more likely than for life cover.

That Death in Service benefit you take for granted could trigger a tax charge

Many employers provide valuable staff benefits. Pensions have taken centre stage recently, given the introduction of auto enrolment in 2012, but there are a number of employers who also provide a life cover benefit to their employees called ‘Death in Service’.

Although many are fortunate to receive cover from their employer, death in service should not become a substitute for your own personal protection and life cover, so it’s important to ensure you and your family have the right level of cover arranged separately.

Painting by Numbers – How Works of Art Pay Tax Bills

The Arts Council announced this month that it has accepted a portrait of the 5th Earl of Carlisle by Joshua Reynolds from the Howard family of Castle Howard, Yorkshire.  The painting is being transferred to the collection of Tate Britain gallery to settle a tax liability for the family.  
Under the Acceptance in Lieu (AIL) scheme, families can donate pre-eminent works of art to the nation and receive a credit for the value of the item against Inheritance tax.  The latest acquisition of the Reynolds painting will settle £4.7m in tax for the Howard family.