Blog

Rural calculation_wheat & calculator_web_0218

Could you benefit from…

Farmers’ averaging relief is a government incentive to assist farmers and market gardeners to smooth fluctuating profits, by averaging profits over a period and being taxable on that average. From 2016/17 new rules were introduced for farmers’ averaging relief with the relief being extended to cover either a two year or a five year averaging period. The Government has suggested that over 29,000 farmers can benefit from the changes, saving an average of £950 a year. The relief is available to sole traders or partners but not limited companies and is not available in the year…

Blog

Dentist_VR size

How to best protect…

The Campbell Dallas dental team are busy completing the annual GP234 form on behalf of our many dental clients who offer NHS services. The form has a filing deadline of 28 February 2018 to ensure receipt of the four quarterly payments due for financial year 2018/2019. On the face of it, this is not the most onerous of tasks given the only disclosure is a percentage figure based on a simple arithmetical calculation but scratch below the surface and you will quickly discover a series of technical details to be taken into account. Making…

Blog

Office block_VR_0218

Important Tax Changes for…

Land and Buildings Transaction Tax (LBTT) replaced Stamp Duty Land Tax (SDLT) in Scotland for land transactions in Scotland, including the grant of commercial and agricultural leases, from 1 April 2015. The LBTT rules for leases are significantly different to the SDLT rules. In particular, if you are the tenant under an agricultural or commercial lease and if you submitted an LBTT return to Revenue Scotland when you took out your lease, you need to submit additional LBTT returns to Revenue Scotland every three years during the currency of your lease, to cover changes…