Martin Aitken & Co Ltd News & Developments

Martin Aitken & Co: news and comment
General News & Developments brought to you by our team at Martin Aitken & Co Ltd.

Martin Aitken at the Scottish Dental Show 2019

Martin Aitken at the Scottish Dental Show 2019

Martin Aitken is delighted to support the Scottish Dental Show conference and exhibition; we will exhibiting over both days: 26th & 27th April 2019 at Braehead Arena, Stand A15.

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Acuity: Financial & Tax Spring 2019

Acuity: Financial & Tax Spring 2019

Tax, finance and investment matters for company directors, owner-managers and private individuals.

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Spring Statement 2019

Spring Statement 2019

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.

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VAT update: reverse charge from Oct 2019, things to watch out for in your VAT return, MTD for VAT and VAT explained video series.

VAT update: reverse charge from Oct 2019, things to watch out for in your VAT return, MTD for VAT and VAT explained video series.
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.

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ScotHot 2019 13-14 March 2019

ScotHot 2019 13-14 March 2019

Martin Aitken will be at Scotland's premier showcase for food, drink, hospitality and tourism on 13-14 March 2019.

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Martin Aitken & Co @ The Gathering 2019

The Gathering 2019

 

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Martin Aitken posts record growth as Airlie signs off as Chief Executive

Ewen Dyer Adrienne Airlie Feb 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.
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Thinking ahead... don't miss out this tax year

Growth support
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.
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Brexit planning checklist for Scottish importers & exporters

Brexit planning checklist for Scottish importers & exporters
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.

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HMRC undertaking a review of employment status of Associate Dentists

HMRC undertaking a review of employment status of Associate Dentists

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.

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MTD for VAT explained

MTD for VAT explained

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.

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Dental Acuity Winter 2018-19

Dental Acuity Winter 2018-19
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.

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Scottish Budget 2019-20

Outlook iconDerek 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. 

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Finance & Tax Acuity Autumn 2018-19

Finance & Tax Acuity Autumn 2018-19

Our regular update on financial, investment and tax developments for investors, company directors and private clients.

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UK Budget 2018

UK Budget 2018

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.

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MTD for VAT: Are you ready for 1 April 2019?

MTD for VAT: Are you ready for 1 April 2019?

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.

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MACO at FGDP Scotland Dental Study Day 2018

MACO at FGDP Scotland Dental Study Day 2018

Director Jayne Clifford and the Martin Aitken & Co Dental accounting, tax and finance team are getting ready for the 2018 FGDP (UK) Scotland Study Day at Glasgow Science Centre on Friday 7 December 2018.

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Trailblazing in the Fourth Industrial Revolution

Trailblazing in the Fourth Industrial Revolution

Manufacturing 4.0 Seminar    6 December 9am-12pm          AFRC, Inchinnan

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Thinking ahead… don’t miss out this tax year

Thinking ahead… don’t miss out this tax year
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. Tricia Halliday, Tax Director, provides some tips and suggestions for you to consider. (1) The impact of bringing expenditure into this financial year, or deferring to the next, can have a significant impact on your tax position and financial results. (2) Maximise and use of all allowances, credits and exemptions you are entitled to, for instance, capital allowances can represent a valuable tax deduction for your business. They can be claimed on a wide variety of capital assets including plant, machinery, equipment, fixtures & fittings and vehicles. Timing of expenditure should be considered carefully. (3) If you are thinking about selling a business asset and a gain is likely to accrue – before you do, make sure you tax advantage the sale. For instance, tax due on an asset sale can be delayed by reinvesting the proceeds in another qualifying asset. (4) Research & Development is another very valuable tax relief available to businesses involved in qualifying projects.  Business involved in developing new products, processes or services or enhancing existing products may qualify for additional relief. Check out the position as you might be surprised what can qualify and how much it could be worth to you. (5) Any dividends you currently take in excess of the £2,000 dividend allowance will attract an income tax liability. Any dividends above that threshold but still in the basic rate tax band will be charged at 7.5%. Those in the higher rate band will be charged at 32.5%, and those in the additional rate band at 38.1%. If you haven’t already considered changing the way in which you balance your income and dividend payments, please get in touch to discuss your options. (6) Contributing to a pension is an opportunity to benefit from tax relief. Company pension contributions can also be useful. (7) Although not specifically a tax planning issue, there are a range of private and public sector grants available to businesses at all stages: pre-start, start-up, early stage and those looking to scale up to achieve their full potential. If you are creating jobs, safeguarding jobs, developing new products, services or processes or undertaking R&D in 2018-19 then it is worth a conversation with us to find out if your project will qualify for any grants or incentives. (8) Making improvements to how you manage the business finances and record keeping can also improve profitability and cash flow.  So make a resolution for 2019 especially if you will be using the Making Tax Digital system from 1 April 2019 to investigate a cloud accounting package >MTD for VAT more 

Commercial Acuity Autumn 2018

Business, tax and finance matters for company directors and business owner-managers

In this edition: Stranville John joins the Martin Aitken Group. MTD for VAT registered businesses. Business grants and support available for growing SMEs. More changes for private landlords are on the way, as well as potential reforms to Pensions Tax Relief and Inheritance Tax. 

foresight

 Click on the links below to read the articles in the latest edition.

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