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.

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. 

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

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Stranville John joins Caledonian Accounting Services

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Johnstone-based Stranville John, a well-established independent accountancy practice founded in 1998 by Steve and Janet John, joined Caledonian Accounting Services Limited (CASL), which is further associated with the Martin Aitken Group of companies, on 4 June 2018.
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ICAS Top 100 Young CAs 2018

ICAS Top 100 Young CAs 2018

The Institute of Chartered Accountants of Scotland (ICAS) has announced the Top 100 Young Chartered Accountants (CAs) for 2018 and we are delighted to report that Duncan MacCaig, Manager, in our Audit & Accounts team has been included in this year's best of the best listing.  

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We've updated our Privacy Policy

We've updated our Privacy Policy

We would like to inform you about updates we have made to our Privacy Policy ahead of the new General Data Proection Regulation (GDPR) coming into effect on 25 May 2018.

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Tax Planning for Life 2018-19

Tax Planning for Life 2018-19

Our annual Tax Planning for Life guide navigates you through a wide range of tax planning opportunities and wealth planning strategies for all stages and facets of life.

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Spring Statement 2018 and changes for the new tax year 2018/19

Spring Statement 2018 and changes for the new tax year 2018/19

Mr Hammond made it clear some while ago that he wanted his Spring Statement to be a short financial briefing rather than a mini-budget, complete with rabbit-out-of-hat announcements.

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Auto-enrolment contributions increase

Auto-enrolment contributions increase
As of 6 April 2018, employees and employers are required to increase the amount of contributions into their automatic enrolment pension.

Currently, until 5th April 2018, the total minimum contribution rates are 2%, with the employee and employer minimum contributions being 1% each.

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Martin Aitken & Co @ The Gathering 2018

Martin Aitken & Co @ The Gathering 2018
 Charity Accounting & Finance Update: What's new? >Download the presentation in pdf.If you were unable to attend and would like to know more about how the changes will affect you, send an email to: This email address is being protected from spambots. You need JavaScript enabled to view it. as we'll be hosting a session in our offices later in the year and we'll add you to the invitation list. You may also be interested in:Audit & Charity Office servicesCloud Accounting for Charities - find out more about our fixed fee accounting Guidance for TrusteesTax Planning for Life: tax planning opportunities for all stages of life and work

Funding gap hampers growth opportunities for SME's

Funding gap hampers growth opportunities for SME's
Funding gap hampers growth opportunities for smaller businesses

UK SMEs are struggling to find adequate funding to invest and boost their productivity, according to a recent research by Close Brothers Group.

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Finance & Tax Acuity Winter 2017-18

Finance & Tax Acuity Winter 2017-18

Our regular update on financial, investment and tax developments for investors, company directors and private clients. Click on the links below to download a pdf of the latest edition of Financial & Tax Acuity.

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Dental Acuity

Dental Acuity
Commercial and tax briefing for Dentists and Practice Managers

A series of short articles offering you practical guidance on managing your finances, taxes and the practice. Click on the links below to download the guide.

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