News
Handpicked Accountants
13/11/2018
At Agnew Mitchell & Cairns we are delighted to announce that we have been selected as the latest firm to join Handpicked Accountants, a specialist network that connects business owners and directors with the most trusted accountancy firms in their area. Featuring over 1,100 of the UK’s best accountancy firms, the website exclusively Read more...
13/11/2018
At Agnew Mitchell & Cairns we are delighted to announce that we have been selected as the latest firm to join Handpicked Accountants, a specialist network that connects business owners and directors with the most trusted accountancy firms in their area. Featuring over 1,100 of the UK’s best accountancy firms, the website exclusively Read more...
More time to top-up NICs
23/03/2023
In some circumstances it can be beneficial to make voluntary National Insurance Contributions (NICs) to increase your entitlement to benefits, including the State or New State Pension. Usually, HMRC allow you to pay voluntary contributions for the past 6 tax years. The deadline is 5 April each year. However, there is currently an Read more...
23/03/2023
In some circumstances it can be beneficial to make voluntary National Insurance Contributions (NICs) to increase your entitlement to benefits, including the State or New State Pension. Usually, HMRC allow you to pay voluntary contributions for the past 6 tax years. The deadline is 5 April each year. However, there is currently an Read more...
Changes in VAT penalties
23/03/2023
The first monthly returns and payments affected by HMRC’s new VAT penalty regime were due by 7 March 2023. The new VAT penalty rules apply to the late submission and / or late payments of VAT returns for VAT return periods beginning on or after 1 January 2023. Under the new regime, there are separate penalties for late VAT returns and Read more...
23/03/2023
The first monthly returns and payments affected by HMRC’s new VAT penalty regime were due by 7 March 2023. The new VAT penalty rules apply to the late submission and / or late payments of VAT returns for VAT return periods beginning on or after 1 January 2023. Under the new regime, there are separate penalties for late VAT returns and Read more...
Scottish Parliament approves 3% rent cap
23/03/2023
The Scottish Parliament has approved a new 3% rent cap for most private renters that will come into effect from 1 April 2023 for an initial six-month period with the option to extend for another six-month period if required. These changes follow a temporarily freeze on rent increases for private and social tenants, and for student Read more...
23/03/2023
The Scottish Parliament has approved a new 3% rent cap for most private renters that will come into effect from 1 April 2023 for an initial six-month period with the option to extend for another six-month period if required. These changes follow a temporarily freeze on rent increases for private and social tenants, and for student Read more...
Transferring nil rate band for Inheritance Tax
23/03/2023
The Inheritance Tax residence nil rate band (RNRB) is a transferable allowance for married couples and civil partners (per person) when their main residence is passed down to a direct descendent such as children or grandchildren after their death. The allowance increased to the present maximum level of £175,000 from 6 April 2020. The Read more...
23/03/2023
The Inheritance Tax residence nil rate band (RNRB) is a transferable allowance for married couples and civil partners (per person) when their main residence is passed down to a direct descendent such as children or grandchildren after their death. The allowance increased to the present maximum level of £175,000 from 6 April 2020. The Read more...
Do you need to file a tax return
23/03/2023
There are a number of reasons why you might need to complete a Self-Assessment return. This includes if you are self-employed, a company director, have an annual income over £100,000 and / or have income from savings, investment or property. Taxpayers that need to complete a Self-Assessment return for the first time should inform HMRC as Read more...
23/03/2023
There are a number of reasons why you might need to complete a Self-Assessment return. This includes if you are self-employed, a company director, have an annual income over £100,000 and / or have income from savings, investment or property. Taxpayers that need to complete a Self-Assessment return for the first time should inform HMRC as Read more...
Reduce CGT by claiming rollover relief
23/03/2023
Business Asset Rollover Relief is a valuable relief that allows for deferral of Capital Gains Tax (CGT) on gains made when taxpayers sell or dispose of certain assets and use all or part of the proceeds to buy new business assets. The relief means that the tax on the gain of the old asset is postponed. The amount of the gain is Read more...
23/03/2023
Business Asset Rollover Relief is a valuable relief that allows for deferral of Capital Gains Tax (CGT) on gains made when taxpayers sell or dispose of certain assets and use all or part of the proceeds to buy new business assets. The relief means that the tax on the gain of the old asset is postponed. The amount of the gain is Read more...
Keep talking
22/03/2023
During recent disruptions to trade, ascribed to Brexit, COVID, the war in Ukraine or other global economic challenges, we have become used to online meetings and facetime calls to keep in touch with business associates, staff and friends. Now that restrictions are easing it is worth reconsidering the value of face-to-face Read more...
22/03/2023
During recent disruptions to trade, ascribed to Brexit, COVID, the war in Ukraine or other global economic challenges, we have become used to online meetings and facetime calls to keep in touch with business associates, staff and friends. Now that restrictions are easing it is worth reconsidering the value of face-to-face Read more...
Spring Budget 2023 - Childcare changes
16/03/2023
One of the main areas targeted by the Spring Budget was changes to childcare. Billed as a revolution in childcare, the Chancellor, Jeremy Hunt, said that he wanted to reform the childcare system to help more than a million women come back to work. The 30-hours per week of funded childcare for eligible 3 to 4-year-olds in England will be Read more...
16/03/2023
One of the main areas targeted by the Spring Budget was changes to childcare. Billed as a revolution in childcare, the Chancellor, Jeremy Hunt, said that he wanted to reform the childcare system to help more than a million women come back to work. The 30-hours per week of funded childcare for eligible 3 to 4-year-olds in England will be Read more...
Spring Budget 2023 - Capital allowances
16/03/2023
Designed in part to help offset the increased Corporation Tax main rate, the Chancellor announced the introduction of a new ground-breaking 100% first-year capital allowance for qualifying plant and machinery assets. This measure is also expected to help boost business investment and growth. The new measure, known as full expensing, will Read more...
16/03/2023
Designed in part to help offset the increased Corporation Tax main rate, the Chancellor announced the introduction of a new ground-breaking 100% first-year capital allowance for qualifying plant and machinery assets. This measure is also expected to help boost business investment and growth. The new measure, known as full expensing, will Read more...
