Menu

Why the new VAT for private schools is taxing for education

The introduction of VAT on some private school fees has been controversial.  For the schools at the centre of this change, the immediate challenge is to review and revise their accounting systems to handle something that will be an entirely new tax for many schools.  While the technicalities of VAT are clearly key, they are very much the tip of an iceberg here.  Thankfully the tax profession has experience of advising on comparable situations in other sectors and should be able to assist.

What’s the difference between an accountant and a tax adviser?

People often think that a tax adviser and accountant are the same, but surprisingly, it's not! The ‘quick’ answer to the question of what the difference is “it depends…”  The nuanced answer is more involved, and very much open to interpretation. Here’s what you need to know.

What you really need to know about the McCloud Remedy

Pensions are great, but they are complicated. A recent ruling has made pensions particularly complicated for certain individuals. Some people who have a public service pension scheme (particularly individuals who work for the NHS or senior local government) may be affected by the ‘McCloud Judgement’.
 

We won’t go into the ins and outs of the calculations or how they have been generated…This blog will focus on the tax reporting requirements.

How to deal with Income tax and Capital Gains Tax on Deceased Estates (Executries in Scotland)

It’s often a sensitive topic, but it is possible that there may be some income tax and capital gains tax to pay on a deceased estate, after a person has died. I know - it seems so unfair! It’s also quite a messy process as information needs to be gathered by people other than the deceased – which can be very tricky during this sensitive time.

James gives you an example of something he sees quite a lot, and the list of action points which need to be done for income tax.

Meet our first intern Jodie

Join us in welcoming our 4th hire and first-ever intern at Anderson & Edwards, Jodie Archibald.

Jodie is a 4th year Accountancy and Finance student at Heriot-Watt University, with a strong interest in working with numbers and analytics; handling finances for small and large companies; and reading in her spare time.

The permitted areas of Principal Property Relief (PPR)

“I’m selling my own home – I won’t pay any capital gains tax, will I?” Well… maybe. People do not generally pay Capital Gains Tax when they sell the home they live in due to the Principal Private Residence (PPR) relief. However, there are quirks to this relief and not every sale may qualify for it. Find out what these are.