Azets

Business owners and shareholders planning to gift shares to their children because of impending inheritance tax (IHT) changes have been urged by accountancy firm Azets to press the pause button and avoid rash decisions they may regret. Changes to the IHT relief available for assets qualifying for Bu

A Scottish business tax adviser has warned that hundreds of thousands of Scottish businesses are unprepared for new real-time payroll reporting rules set to take effect in April 2026. The changes, which will require businesses to report income tax and Class 1A National Insurance Contributions (NICs)

Nicola Campbell, partner with Azets, calls for tax stability and simplicity in this week’s Scottish Budget. Shona Robison, the Finance Secretary, will next week tackle the annual Hobson’s Choice of the Scottish Budget – pressure to raise more money to fund public services or risk d

Azets Aberdeen has advised business owners and farmers on how to navigate "unfair" inheritance tax (IHT) changes announced in the Autumn Budget. From April 2026, proposed restrictions to both Business Property Relief (BPR) and Agricultural Property Relief (APR) will come into effect, while from 2027

Scottish businesses are faced with a significant increase in employment costs, with estimates suggesting an additional £3 billion burden, due to the UK government's rise in employer national insurance contributions (NIC) to 15%. Across the UK, business leaders have forecast that businesses are

Scottish businesses planning to treat their staff to a festive party this Christmas are being cautioned to avoid exceeding the £150 per person tax exemption limit. Mark Pryce, head of corporate tax in Scotland for Azets, has warned that it is easy to fall foul of the legislation regarding exem

Wbg has acquired the Scottish personal insolvency book of accountants and business advisors Azets for an undisclosed sum. Comprising Trust Deeds, Debt Arrangement Schemes and sequestrations for hundreds of individual cases with a significant book value, the deal highlights Wbg’s ability to sca

An Aberdeen tax expert has warned that potential drastic changes to Inheritance Tax (IHT) and Capital Gains Tax (CGT) as part of Labour’s Autumn Budget could stifle wealth creation and cost the Treasury more than it hopes to generate. The upcoming Budget on 30 October, the first of the new Lab

The number of Scottish SMEs claiming R&D tax credits has dropped by 16% in 2022/2023 compared to the previous period, despite a 10% rise in the value of claims, reflecting that, whilst there are fewer claims, the size of each claim has increased. Gemma Monaghan, head of R&D tax with Azets, s

The Aberdeen office of Azets has appointed four senior hires with Graeme Cran, David Urquhart, Fraser Murray all joining the 15 strong tax team as, respectively, associate director and senior managers, whilst Greg Houston joins the accounts & business advisory services (ABAS) team as a director.

Construction Industry Scheme (CIS) contractors are becoming a target for the tax authorities with HMRC issuing letters to CIS contractors if records indicate that the correct deductions may not have been applied, a Scottish tax expert has warned. The letter prompts the contractor to verify the CIS t

Hospitality businesses should prepare for imminent changes to the law on tips and gratutities or face the risk of employment tribunals and penalties, a tax specialist has warned. The new Employment (Allocation of Tips) Act 2023, which takes effect on 1 October 2024, will make it unlawful for employe

Azets has bolstered its UK workforce with the addition of 333 graduates and school leavers, 60 of whom are based in Scotland. The firm now has 817 staff now studying towards a professional qualification. Investment in the next generation of talented business advisors is a key development strategy fo

Accountancy and advisory firm Azets, which has its largest UK office in Braehead, has agreed to acquire Paisley-based chartered accountancy and wealth manager Milne Craig for an undisclosed sum. The historic Renfrewshire firm was founded over a 100 years ago and has established an excellent reputati

Company directors are being urged to avoid engaging rogue unlicensed insolvency advisors or risk severe financial penalties, being struck off as a director or at worst, a prison sentence, an accountancy firm has warned. "It is very concerning that some directors are engaging the services of unlicens