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 2018-19TPL2018 19 icon strip

Our Tax Planning for Life 2018-19 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?

  • Income tax across the UK
  • Transferring assets between couples.
  • Working life: dividends, research and development, share options, entrepreneur’s relief.
  • Thinking of selling or passing on the family business to the next generation?
  • Investing in property – should you hold personally or in a company?
  • Pensions: Don’t write of annuities
  • Investing your nest egg: ISAs, bonds, savings and trusts.
  • Your starter for 10 tax planning checklists

Maco Icons4UK Business & Personal Tax Rates 2018-19 >click here to download

 

Investing in residential property?

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?

  • Autumn Budget 2018: "...austerity is coming to an end - but discipline will remain" were the words that chancellor, Philip Hammond, used to summarise his October 29th Budget speech.>more
  • 2019 Outlook: Time to temper your return rexpectations? Over the last eight years, the stock market has been pretty generous, providing many investors with a period of relatively strong rates of return. >more
  • Cash flow planning: your personal road map for the future: The Many people spend their working loves planning and saving for their later years. However, when they reach retirement they can be unsure as to how best to allocate their cash. This is where cash flow planning can really help. >more
  • What to do to aviod going over your Lifetime Allowance: 1000% increase since 2006 (that's the increase in tax paid by individuals who have breaches the Lifetime Allowance (LTA)). >more
  • VAT shake-up for construction sector: One of the biggest changes to the VAT legislation in recent years is expected to come into force in 2019 and will affect companies, contractors and subcontractors in the construction industry. >more

Download the Winter 2018-19 edition of Financial & Tax Acuity >more

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

 

UK Budget 2018MACO business

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

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.

However, not many of the rises and cuts mooted were delivered yesterday. Philip Hammond also signalled that the Government may have to look at a different strategy and change its promise that the end of austerity is in sight if the UK leaves the EU without a deal. The Chancellor said that an emergency budget would have to be drawn up in the event of a no-deal scenario. >more

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 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.