Martin Aitken & Co Ltd News & Developments
Martin Aitken & Co: news and comment
The Chancellor found himself presenting his second Spring Statement sandwiched between a series of crucial Brexit votes. His speech was peppered with references to the need to achieve a smooth exit from the EU. Beyond that, Mr Hammond chose to keep the Statement a low‐key affair.
Martin Aitken will be at Scotland's premier showcase for food, drink, hospitality and tourism on 13-14 March 2019.
Glasgow based accountant and business adviser Martin Aitken is preparing for further expansion as they record their biggest increase in turnover since the partnership converted to a limited company in 2013.
VAT change coming for construction industry
The new measures are being introduced to reduce VAT fraud and evasion by placing the responsibility for VAT on the customer. HMRC believe that some small VAT-registered suppliers are charging VAT to their customers, but not then paying the VAT on to HMRC.
To ensure you don’t miss out on valuable allowances and exemptions that you are entitled to, you should plan and take advice now rather than leaving it until the end of the tax year, or the end of your financial year. Here are some suggestions for you to consider.
Brexit – what now for businesses that trade with the EU?
There is still uncertainty around what Brexit will mean and planning for a “No Deal” scenario seems sensible right now.
As you may be aware HMRC is currently undertaking a review of the employment status of Associate Dentists. This review, according to HMRC, is to determine whether certain Associates in the profession should be treated as employed and not self-employed as they are now.
In a series of short webinars, Mark McRae and Kim Matheson from our Cloud Accounting team explain what Making Tax Digital (MTD) is, who it applies to and what you need to do to prepare to submit your first digital VAT return post 1 April 2019 to HMRC.
Commercial, finance and tax briefing for dentists
Click on the links below to read the full articles. If you have any queries or would like to discuss any of the issues raised in this edition, please do get in touch with Jayne Clifford, Director by email This email address is being protected from spambots. You need JavaScript enabled to view it. or by calling 0141-272-0000.
A round up of the accounting, finance, risk and tax matters facing charity trustees, finance directors and financial managers.
Click on the links below to read the full articles and briefing notes. We do hope you find the information and forewarnings contained within this edition useful.
Derek Mackay MSP, Cabinet Secretary for Finance and the Constitution delivered his Scottish draft budget for 2019-20 in the Scottish Parliament on 12 December 2018.
In this short webinar Mark McRae, Director Martin Aitken &Co, explains what Making Tax Digital is, who it applies to and what you need to do to prepare to submit your first digital VAT return post 1 April 2019 to HMRC.
In this short webinar (part 2), Kim Matheson, Cloud Services Manager, Martin Aitken & Co, provides an introduction to cloud accounting and runs through the MTD for VAT elements of two cloud accounting systems: Sage 50cloud and Xero.
In this short webinar (part 3), Mark McRae, Director Martin Aitken & Co, provides a short demonstration of the MTD for VAT elements of Clearbooks Micro. This software solution may be suitable for smaller/micro businesses using spreadsheets to record their financial transactions and who require a digital solution to submit their VAT returns post 1 April 2019.
Our regular update on financial, investment and tax developments for investors, company directors and private clients.
The Chancellor has laid out details signalling the end to austerity in a statement delivered between key meetings in the Brexit negotiations. Expectation leading up to the Budget had been for tax rises, with various revenue raising options discussed ahead of the statement.
If you will be using the MTD system from 1 April 2019, you must use approved accounting software which will enable you to send regular updates to HMRC.
In this short video, Iain Johnston, VAT Specialist at Martin Aitken & Co, provides an introduction to the different VAT rates: standard (20%), reduced rate (5%) and zero-rated (0%) and where they apply.