Insights
Our experts provide their insights on the latest industry developments and share tips on accountancy and business matters.
15 October 2024
Did you receive a Week 53 payment in 2023/24?Typically, employers who pay weekly will be accustomed to paying their employees 52 times in a tax year between each 6 to 5 April. However, depending on how weekdays fall in a year, an employer may have to account for an extra tax ‘week’ within the same tax year because one or two days are remaining after tax week 52 has completed. Here, we explain what this means for employers.
14 October 2024
Changes to the Additional Dwelling Supplement from 1 April 2024Following an extensive consultation period by Revenue Scotland, new legislation was introduced on 1 April 2024 to alter and, in most instances, improve the Land and Buildings Transaction Tax (“LBTT”) rules in respect of the Additional Dwelling Supplement (“ADS”).
14 October 2024
Planned introduction of Scottish Building Safety LevyOn 19 April 2024, the Scottish Government announced that it had secured powers to introduce a Scottish Building Safety Levy (“SBSL”), to assist in raising the funding required to remedy unsafe cladding.
11 October 2024
Short term business visitors: UK Compliance OverviewA Short Term Business Visitor (STBV) is an individual visiting the UK place of business for working purposes from an overseas parent, subsidiary or associated company. Typically, ‘short term’ for this purpose represents a total period not exceeding 183 days.
Jonathan Corsie
Tax Assistant Manager
07 October 2024
VAT Penalties – correct VAT errorsThis is the second blog in our VAT series, following an initial post on VAT compliance. Here, we explore when HMRC can issue VAT penalties, common compliance errors, and how penalties are calculated. Whether due to late registration, incorrect documentation, or misreported VAT, understanding these issues is key to avoiding costly penalties.
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