Guides & financial publications

Recent financial, investment and tax news.

Click on the links below for financial and tax news and comment across a range of matters.

Tax Planning for Life 2019-20 Front Cover TPL

Our Tax Planning for Life 2019-20 guide navigates you through a wide range of planning opportunities and strategies for all stages and facets of life: from childhood to working/business life and onwards to those happy golden years of retirement and semi-retirement.

What's in this year’s guide?

  • 10 ways to reduce your tax bill.
  • Let's compare Scotland vs England: Working, living and buying property.
  • Working life: dividends, research and development, selling assets, entrepreneur's relief.
  • Estate Planning: if you don't want to give direct, you could consider a trust.
  • Thinking of selling or passing on the business?
  • Making Tax Digital.
  • First time buyer or purchasing a second home?
  • Savings and investments: don't dismiss annuities.
  • Protect yourself against the unexpected.
  • Your starter for 10 tax planning checklists.

UK Business & Personal Tax Rates 2019-20 >click here to download

 

Investing in residential property?MACO TPL Family home purple

We are often asked whether it is more beneficial to hold property personally or in a company. More often than not, our response is: it depends.

There is no simple answer and there are number of factors and options to consider, each having benefits and potential drawbacks depending on your circumstances.

This short guide outlines the tax, financial and commercial considerations: incorporation, extraction of funds, ownership, disposals, income, succession/IHT and ATED (Annual Tax on Enveloped Dwellings.

Click here to download our short guide.

 

Acuity: Financial & Tax Spring 2019Idea

Our regular Financial & Tax Acuity publication provides commentary and opinions on the latest investment trends, developments and changes in taxation: rates, allowances and reliefs, as well as providing insights on the various financial and investment options that are available to you, your family and your business in the UK.

What's in the latest edition?

  • Spring Statement 2019: "There were no new tax proposals and the extention of Making Tax Digital to other taxes has been deferred. One notable absence was the review of inheritance tax which had been promised for Spring 2019." >Spring Statement highlights
  • Out with the old in with the new. Tax planning suggestions and tips for owner-managers and private individuals. >more
  • One more twist on buy-to-let- 6 April 2019 sees the start of the third year of interest relief phasing process. And from April 2020, capital gains tax on resi property disposals must be paid within 30 days of sale, whereas the current rules effectively give a minimum of nearly ten months grace >more
  • Brexit and investments: stick, twist, fold... irrespective of the outcome of the Brexit negotiations our advice will remain consistent. Don't try and second guess the markets and don't let short term volatility distract you from an asset allocated, diversified investment strategy. >more
  • Helping your children to buy their first home? Here are some tax considerations for you to consider. >more
  • Self-employed and pensions - what are your options? >more

Download the Spring 2019-20 edition of Financial & Tax Acuity >more

You can read previous issues of Financial & Tax Acuity >here

 

Spring Statement 2019 MACO business

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.

The Spring Statement had no new tax proposals and indeed deferred any extension of Making Tax Digital (MTD). However, the Chancellor did introduce various consultations, early‐stage discussion papers and calls for evidence. These covered a wide range of topics, stretching from a forthcoming review of the National Living Wage to the development of a low carbon Future Homes Strategy. >more

Scottish Budget 2019-20

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. Click the link to read the full article on key announcements that will affect individuals and businesses in Scotland. >Scottish Budget 2019-20

 

Guide to Auto-Enrolment (Employers)MACO project

Our Auto-Enrolment (AE) guide covers what you need to do as an employer, your specific AE duties, conducting the pension assessment process, how much to contribute to the scheme and an overview of the available schemes on the market.

The guide also includes indicative pension scheme set-up and ongoing scheme managament costs. Download a synopsis of the guide >more

If you would like a full copy of the guide, please send an email to: This email address is being protected from spambots. You need JavaScript enabled to view it., Martin Aitken Financial Services or call Liam: 0141-272-0010

 

Tax Saving Ideas for Businesses MACO invest

Are you taking advantage of capital allowances?

Quite simply, capital allowances can reduce your annual tax bill. They can be claimed for some types of capital expenditure, but generally speaking anything that is used for a business purpose that has a useful life of two or more years may qualify.

They are treated like any other expense and can be deducted from your profits, or added to a loss, when calculating your taxable profits at the end of the financial year.

Download our guide to Captial Allowances

  • What type of assets qualify?
  • What allowances are available?
  • When should you seek advice?

Get in touch with us today to discuss your capital allowances claim. Get in touch with Tricia Halliday, Tax Director