Insights

Tony Cochrane

VAT Senior Manager

13 September 2021

Diversifying your rural business - benefit from ever-changing VAT rules

Many rural businesses have diversified, or are considering diversifying, into hospitality and leisure activities as an additional income stream. In the midst of the coronavirus pandemic in 2020, Chancellor Rishi Sunak announced a temporary 5% reduced rate of VAT for hospitality and tourism activities. This period of reduced VAT is coming to an end on 30 September 2021, with a new 12.5% reduced rate applying from 1 October 2021 to 31 March 2022.

Alexandra Docherty

Partner and Head of Private Client Tax

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08 September 2021

A Budget in all but name

The Prime Minister has announced a health and social care levy ahead of the Spending Review and Autumn Budget to be held on 27 October.

Rosalind Catto

Inverness Office Head & Business Advisory Partner

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07 September 2021

Changing VAT rates for the hospitality and tourism sector

In the midst of the coronavirus pandemic in 2020, Chancellor Rishi Sunak announced a temporary 5% reduced rate of VAT for the hospitality & tourism sector. This period of reduced VAT is coming to an end on 30 September 2021. Rosalind Catto, Head of Hospitality and Tourism, takes you through which VAT rates are changing and when.

18 August 2021

Financial Services

Open Banking - coming of age

As we reach the fifth birthday of Open Banking’s conception, and in light of the Competition and Markets Authority (CMA)’s recent mandate on ‘sweeping’, it seems an opportune time to reflect on progress to date as regards adoption of Open Banking, and also some key factors that may be attributable to holding back its success.

13 August 2021

National Minimum Wage Compliance Update

HMRC’s latest National Minimum Wage (NMW) ‘naming and shaming’ list was released earlier this month, revealing a total of 191 employers across the UK who have failed to pay staff the legal minimum in accordance with NMW Regulations. Of these 191 businesses, 22 were North of the Border which is proportionally higher than other parts of the UK.

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