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 2017-18Maco Tax Planning Icon Strip

Our Tax Planning for Life 2017-18 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?

  • Protecting your income from HMRC and succession planning strategies.
  • Ways to avoid the higher rate of tax.
  • Transferring assets and allowances between couples.
  • Working life: directors renumeration packages, entreprenuers relief, grants & capital allowances.
  • Caveat emptor: buy to let invetsments, property tax reliefsMaco Icons4
  • Investing your nest egg: ISAs, bonds, savings and trusts.
  • The future: estate planning.

UK Business & Personal Tax Rates 2017-18 >click here to download

 

Investing in residential property in 2017?

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.

 

Financial & Tax AcuityIdea

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?

  • End of the tax year planning FY17 and FY18 year-start planning tips. Tricia Halliday, Tax Director, MACO provides her recommendations.
  • What's your financial game plan for 2017-18? Ian Finch, Director, MAFS offers his suggestions on what should be considering: savings, pensions and planning to minimise IHT.
  • The new Residential Nil Rate Band. Derek Hanlan, Associate Director, MACO outlines how the changes could impact your succession planning.
  • Another pension allowance cut, Greig McGarvie, IFA, MAFS discusses the changes to Money Purchase Annual Allowance.
  • Investment risk - where are you on the spectrum?

Download the Spring 2017 edition of Financial & Tax Acuity >more

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

 

UK Spring Budget 2017MACO business

A summary of the key announcements and the impacts on you.

The final Spring Budget came just three months after the Autumn Statement and the number of Budget documents issued by HM Treasury shrank significantly from last Spring's Budget 2016.

The Chancellor resisted making any announcements about future increases to the personal allowance or higher rate threshold, presumably saving some 'good news' for his set piece in the Autumn 2017. >Key changes announced in the last Autumn Statement 2016

Although as we know, any changes here will no longer apply in Scotland. The Scottish Government announced in December's Scottish Budget that the higher rate threshold will remain unchanged at £43,000 for non-savings, non-dividend income only, and there is no political will to see the higher rate threshold track the changes and expected increases south of the border. >Scottish Budget 2016

The Chancellor majored on getting the UK ready for Brexit and also announced extra funding for social care, with tax and NIC rises mainly aimed at the self-employed. Although as announced on 15 March, the Class 4 NIC rise will now not go ahead.

Click here to review a summary of the changes announced on 8 & 15 March, with some reminders of what was previously announced in the Autumn.

 

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 BusinessesMACO 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.