Latest News

Scottish business confidence increasing but lagging behind the rest of the UK

We have recently seen the publication of the ICAEW Business Confidence Monitor (BCM): Scotland for Q1 2023 and the Royal Bank of Scotland (RBS) Scotland PMI for April 2023, both of which highlight that while business confidence in Scotland is increasing, it is lagging much of the rest of the UK and continues to remain in negative territory.

Should I set up a trust?

Trusts have become something of a political football in recent years and their use is often called into question with the implication that by putting a trust in place, the motives for doing so, are driven by tax avoidance and the wish to be not transparent about the ownership of the assets.

Changes to HMRC penalties and interest

New penalties for submitting VAT returns or paying VAT late came into effect on 1‌‌‌ ‌‌January 2023, and in the last month, we have started to see HMRC issue penalty correspondence to our clients.

Armstrong Watson appoints new Employment Tax Partner

A recognised industry expert has joined Armstrong Watson to head up its Employment Tax services.

Brian Rudkin joins Armstrong Watson from Johnston Carmichael where he was Director and Head of Employer Services.

Xero User News - Xero bank feed changes

A solution is in sight, as Xero has agreed with some banks that feeds will be available to be updated by other agreed users.

How to get a long term return from a sale of your law firm

Selling your Law Firm will be one of the biggest decisions you ever make. Once you have reached that point you are moving into a new phase where the asset that produced your income may now be providing you with a lump sum of capital (or a series of lump sums).

Armstrong Watson promotes Martin Johnston to Audit and Assurance Partner

Armstrong Watson are delighted to announce that Martin Johnston has been promoted to Audit and Assurance Partner.

Xero User News – End of the road for old style Xero reports

For a number of months now, Xero has been rolling out a new style for the reports it can produce, affecting everything from account transactions to balance sheets.

Farming family's passion and dedication to producing premium Lakeland Lamb for Booths

Lakeland Lamb is the product of a fifth-generation farming family. At the heart of their business is the breeding and rearing of premium lamb from Herdwick Sheep and cross-bred Herdwick-Continental breeds, which they supply to Booths meat counters. 

Farming and environmental land management – the tax issues

Armstrong Watson has just submitted its response to a recent HMRC consultation on the taxation of land entered into various environmental schemes.