Latest News

Should I set up an Employee Ownership Trust?

If you’re looking to pass on ownership of your company you might want to consider setting up an Employee Ownership Trust (EOT).

8 things for farmers to consider about pop-up campsites 

Pop-up campsites can now legally operate for up to 60 days per calendar year. If you're looking into this area of diversification there are some things to consider. 

Xero user news – Xero is retiring WorkflowMax

Xero has announced the retirement of its WorkflowMax software, which has left users seeking alternative solutions for project and workflow management needs.

Xero user news – New foreign currency reports available

With live currency integration and automatic conversion functionality, Xero’s premium subscription makes it easy to process data in multiple foreign currencies and they have recently released updates to Xero’s foreign currency reporting capabilities.

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).