Saffery Champness

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Operators of furnished holiday lettings businesses will have been affected by restrictions during the Covid-19 pandemic, but all is not necessarily lost, according to Jenny Healy. The pandemic has clearly impacted the UK’s tourism sector heavily, including many Furnished Holiday Let (FHL) busi

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VAT can only be claimed as input tax if the associated costs are incurred in respect of a business (economic) activity and rural businesses need to be aware that HM Revenue & Customs continues to challenge VAT recovery, warns Sean McGinness, partner and head of VAT, Saffery Champness. In Babylon

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Accountancy firm Saffery Champness has promoted Margi Campbell to partner in its Inverness office with effect from April 1. Ms Campbell provides advice and tax planning to a client base that includes entrepreneurs, high net worth individuals, professional partnerships, landed estates, and family and

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Jenny Healy, director of accounts and audit, based in the Saffery Champness Edinburgh office and a member of the firm’s Landed Estates and Rural Business Group, discusses the growing pressure on the UK Government to introduce a new wealth tax. After a year of much needed support from the Chan

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A new court judgment suggests that HMRC will succeed in rejecting claims for business property relief (BPR) on holiday let businesses, Edinburgh-based Saffrey Champness LLP has said. The case, Executors of the Late Sheriff Graham Loudon Cox vs HMRC, concerned the executors’ claim for BPR regar

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Saffery Champness is advising its rural clients on the latest position regarding the various support schemes in place for those businesses and the self-employed adversely affected by the coronavirus outbreak, including impending closure of certain schemes. The second round of support under the Self-

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HMRC has recently updated its Making Tax Digital (MTD) guidance to reflect that, from 1 April 2022, all businesses registered for VAT in the UK will need to comply with MTD and file their VAT returns through functionally compatible software that links to HMRC’s API platform, according to chart

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The VAT team at Saffery Champness has produced responses to a series of FAQs that will help many businesses get it right when it comes to adjusting to the VAT changes announced by chancellor Rishi Sunak in his recent summer statement. In that statement, the chancellor announced a temporary reduction

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Saffery Champness is reminding rural businesses that the VAT payment holiday, which ran from March 21 because of the COVID-19 crisis, ends on June 30. No further extension to the scheme, which has allowed VAT payments to be deferred until March 31, is expected.However, it is expected that there will

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HMRC has kept its promise to adopt a light-touch approach on the imposition of fines for businesses who have failed to file on time with the shift to the new Making Tax Digital (MTD) system for VAT, according to Saffery Champness LLP. HMRC had not issued any fines for the 120,000 businesse

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