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Direct Debit Facility available to our clients

We offer a Direct Debit facility to our clients for settlement of fees. Direct debit is one of the safest and most secure payment methods available with all transactions covered by the Direct Debit Guarantee. If you sign up to the scheme you will continue to receive fee invoices from us as normal. Payment by […]

Changes to payslips: new payroll legislation

For the first time in many years the Government will introduce new legislation which will change the reporting on employee payslips. From 6 April 2019, employers will need to issue staff with payslips that detail how the payment has been calculated in cases where the rate of pay and hours worked are variable. This government […]

Workplace pension contribution increases from 6 April 2019

The minimum contribution an employer and employee pay into an automatic enrolment workplace pension scheme will increase from 6 April 2019. Who does this apply to? All employers with employees in an automatic enrolment pension scheme. This means that all employers must ensure the minimum amounts are being paid into their employee’s pension schemes. This […]

Heritage Projects: 5 expert tips on getting your project’s finances right from the outset

Recently we hosted a workshop on VAT at the Heritage Trust Network Conference, which brings together charities involved in restoration and heritage projects from across the UK. We work with many charities, from smaller local trusts dedicated to one building through to established charities planning capital projects, with accounting advice that helps them to keep […]

David Philp appointed as Head of R&D tax

David Philp has been appointed to the new role of Head of R&D tax at Chiene + Tait. Philp joined C+T in 2012. Following several years of active experience within its multiple award-winning Entrepreneurial Tax Team, he has worked with a broad range of clients supporting them on R&D tax relief applications and other forms […]

Update to R&D guidance

Towards the end of last year, HMRC updated their guidance in relation to the eligibility of software projects for Research & Development (R&D) tax relief (you can find the guidance here). The rapidly evolving nature of the software industry means it can be difficult to ascertain whether a project undertaken by the company is seeking […]

C+T once again ‘Highly Commended’ at the EISA Awards

Chiene + Tait are delighted to once again be ‘Highly Commended’ in the Best EIS/SEIS Tax Advisor category at the 2018 EIS Association Awards. This is the fourth year running we have achieved this recognition and we are the only firm in Scotland to have ever achieved this. The firm’s entrepreneurial taxes function, which supplies […]

HMRC Policy Change: VAT to be charged on all non-refundable deposits

HMRC has confirmed a new policy in a recent Business Brief (13/2018) that VAT should be accounted for on deposits even in circumstances where the customer does not use the goods or services they have paid for. This policy is effective from 1 March and it overrides a previous HMRC policy which allowed some non-refundable […]

The 2018 Budget: changes to help your charity

Philip Hammond announced welcome reforms to charity taxes in the 2018 Budget. The Chancellor announced that from April 2019 the following changes will take effect: Small Trade Limit What has changed? The annual small trade limit has increased to a minimum of £8,000 and a maximum of £80,000 (where the charity’s total turnover exceeds £320,000). […]

Charity pensions – clock ticking for some third sector organisations

Some charitable organisations may be sleepwalking into a charity pension financial time bomb if they participate in the Local Government Pension Scheme (LGPS).  The scheme provides charity staff pension security at lower employer cost by providing economies of scale through pooled pension resources, but the defined benefit nature of these schemes carries a significant financial […]

Chiene + Tait’s Managing Partner Carol Flockhart picks up Scottish Women’s Award

Carol Flockhart, Managing Partner at accountants Chiene + Tait took honours at last night’s Scottish Women’s Awards winning the Services to Accountancy and Finance Award. Held in Glasgow, the evening acknowledged and celebrated the achievements of Scotland’s women recognising a wide range of dynamic females, including entrepreneurs, civil servants and charity workers, and their contribution. […]

Scotland’s independent schools face uncharted economic waters

Dave Roberts, Director at Chiene + Tait appears in the current edition of Business Insider Magazine talking about changes in the independent school sector: ‘Accountancy firm Chiene + Tait has been advising independent schools for more than 30 years and has seen affordability become an increasing issue. “Many parents, especially those with uncertainties about their […]

Informed Trustee Certificate Launched

Chiene + Tait’s Head of Charities Euan Morrison has supported the development of an online certificate for current and future trustees. The Informed Trustee course, run by The Society of Trust and Estate Practitioners (STEP), aims to equip current and aspiring trustees with the knowledge they need to be successful charity board members. The majority of […]

HMRC publishes guidance outlining impact of “no-deal” Brexit for VAT-registered Businesses

The UK Government today issued a raft of guidance to prepare UK Businesses for a no-deal Brexit. The guidance stresses on various occasions that a no-deal Brexit is unlikely; however, the notices outline the key changes that will impact any business that currently trades with the EU. The main highlights of the guidance are as […]

VAT Recovery: Intermediary services to Non-EU financial services providers

HMRC have published a draft proposal to amend the legislation that currently allows insurance and financial intermediaries to recover input VAT where services are provided to financial services providers based outside the EU.  Insurance and financial intermediary services are VAT exempt so don’t normally allow for VAT recovery, however the current VAT law allows VAT […]

Carol Flockhart nominated at The Scottish Women’s Awards 2018

We are delighted to confirm that Chiene + Tait’s Managing Partner, Carol Flockhart is shortlisted as a finalist in the Services to Accounting and Finance category at the 2nd Scottish Women’s Awards. Award details The event, due to take place in Glasgow on 12th September, is a celebration of the achievements of women in Scotland […]

Changes to Childcare Vouchers

In this article, Neil Cameron in our Payroll team outlines forthcoming changes to childcare vouchers and how employers/ employees can prepare for the change. What are Childcare Vouchers? Childcare Vouchers are a Government-approved, tax-efficient way of paying for childcare. An employee can exchange part of their gross salary for Childcare Vouchers, which are tax-free and […]

Chiene + Tait ImpaCT Day

This summer the team at Chiene + Tait took part in our first ever charity ImpaCT Day, helping us make a positive social impact. Staff were given a paid half day away from work to volunteer at a series of nominated charities, or to volunteer for a cause close to their heart thereby helping a […]

Changes to VAT Grouping Eligibility

Here, Andrew Young in our VAT team highlights proposed changes to VAT Groups, what they are and what entities are impacted. Background A VAT group is where a group of eligible businesses is treated as 1 taxable entity, rather than separate entities. In July 2018, the UK Government published draft legislation amending the eligibility criteria […]

Recent VAT cases for Rural Businesses

Chiene + Tait’s VAT Director Iain Masterton runs through some recent VAT cases that impact on the rural business sector. If you have a query about VAT, please feel free to contact us today. Brexit The implications of Brexit are still being debated and nothing is yet certain, though it seems that VAT, the ‘European’ […]

Unoccupied Property Relief and Shooting Rates

Rory Kennedy, Rural Estates Partner, reviews the potential for Unoccupied Property Relief in relation to Shooting Rates. The Land Reform (Scotland) Act 2016 heralded the reintroduction of shooting land and deer forests to the rates roll. Tax law is typically complex and the detail contained within the statue usually provides the basis on which advisers […]

Chiene + Tait welcomes AGN International to Edinburgh

The team at Chiene + Tait was delighted to welcome our fellow AGN International Association members to the European, Middle East and African Conference 2018 held in Edinburgh, in June. This year, working closely with AGN enables us to access a unique association of 193 independent accountancy firms, like Chiene + Tait, that have the […]

C+T picks up two awards at Scottish Accountancy Awards

We are delighted to report a brace of wins for Chiene + Tait at the Scottish Accountancy Awards: Large Accountancy Firm of the Year Tax Team of the Year The top award was secured after a year of progress which, according to the awards organisers, “really impressed the judges”. The Tax Team of the Year […]

Chiene + Tait launches new Digital Division

Accountants Chiene + Tait (C+T) has enhanced its business technology service offering with the launch of a new Digital Division. The service, part of the firm’s Business Support Department, caters for all types of clients, including charities and a wide range of SMEs, to help them take advantage of the efficiencies and opportunities presented by […]

Carol Flockhart appears in The Herald: Flexibility is key to keep our firm thriving

C+T’s Managing Partner Carol Flockhart appeared in The Herald talking about her journey through the ranks to the top of the firm, and about how to keep the firm focused on the future. ‘“Chiene & Tait was my first position out of Edinburgh University and I went into accountancy because all those in my business […]

Double Scottish Accountancy Awards 2018 delight for Chiene + Tait

Chartered Accountants Chiene + Tait has been nominated as a finalist in two categories at this year’s Scottish Accountancy Awards. The firm has been short-listed as Large Accountancy Firm of the Year and as Tax Team of the Year, a category it has won for the past two years for its work in the entrepreneurial […]

Chiene + Tait appear in Business Insider Accountancy Review 2018

C+T’s Managing Partner Carol Flockhart appears in Business Insider’s Accountancy Review feature. Reviewing the sector, Carol highlights ‘…in all technology advances there is a reduction in some jobs but the creation of others. Developments such as artifical intelligence will allow more repetitive book-keeping or process driven tasks to be automated and achieve efficiencies, which can […]

Carol Flockhart interview in growthbusiness.co.uk on the agility of accountancy firms

Chiene + Tait’s Managing Partner Carol Flockhart appears on GrowthBusiness.co.uk talking about the importance of accountancy firms to be as agile as the scale-up companies they serve. ‘Working with the right accountants who can advise on complex issues like tax planning is vital to a firms’ progress. Accountants may also have good contacts with investors […]

Iain Masterton appears in The Scotsman on VAT and the Customs Union

Chiene + Tait VAT Director Iain Masterton appears in The Scotsman talking about VAT and the Customs Union. Read more here.

Richard Clarke appears in Landlord Focus Magazine on tax changes for landlords

Richard Clarke, Senior Manager in the Chiene + Tait Personal Tax Team outlines key changes for residential landlords in the Spring edition of Landlord Focus Magazine. Areas discussed by Richard include: The cost of replacing furniture via the Wear and Tear Allowance Restriction in availability of tax relief on loan interest payments Transferring ownership of […]

Chiene + Tait Office Easter Opening Times

The Chiene + Tait office will be closed on Friday 30th March and Monday 2nd April for Easter and will reopen on Tuesday 3rd April. We hope everyone has a happy Easter.

Paul Mason appears in Business Insider Q4 Deals Round-Up

Paul Mason, Chiene + Tait’s Corporate Finance Partner appears in the current edition of Business Insider, in the Q4 deals round-up, discussing how 2018 will be the ‘year of institutional equity.’ He comments, “These are all really exciting, high-growth Scottish businesses, each of which needs several million pounds of growth capital, either to fund expansion […]

Catriona Finnie appears in The Herald on an Edinburgh boost to the Scottish film and TV sector

Catriona Finne, Chiene + Tait’s film tax expert appears in The Herald talking about how the new Edinburgh Pentland Studio could bring a much needed boost to the Scottish film and tv sector. To read the article in full, please click here.  

Charity SORP Changes

The SORP making body has recently confirmed, in its Invitation to Comment on Draft Update Bulletin 2 issued in February 2018, that it will not be issuing an updated SORP, and instead the December 2017 amendments to FRS 102 will be brought into charity accounting by issuing a second Update Bulletin. The Charity SORP Changes […]

Catriona Finnie comments on how new Scottish taxes raise impact on low income charity donations

Catriona Finnie, Chiene + Tait’s Gift Aid specialist appears in Scottish Financial News and Third Force News talking about how the new Scottish Rates of Income Tax could impact on donations lower rate taxpayers in Scotland would like to give to charity. To read the articles in full, click here to view Scottish Financial News […]

Scottish Rate of Income Tax Comparison

From April 2018, everyone in Scotland will pay different tax rates from the rest of the UK. Find out more about the Scottish rate of income tax compared with the rest of the UK in our infographic. To download the infographic, please click here.

Carol Flockhart appears in Scottish Financial News talking about how businesses benefit from female entrepreneurship

Carol Flockhart appears in today’s Scottish Financial News as part of International Women’s Day 2018 talking about the benefits to business of promoting female entrepreneurship. To read the article in full, visit the SFN website here.

Annual Tax on Enveloped Dwellings (ATED) Deadline Approaching

Are you aware of the upcoming 30 April 2018 Annual Tax on Enveloped Dwellings (ATED) deadline? If you are affected, you will need to calculate any ATED payable based on property valuations as at 1 April 2017. If you think that this could apply to you, please download our Comment On here. Please do not […]

New AGN International report: Cyber Security: Bitcoin or bust?

Only 12 months ago you could buy a Bitcoin for about $600; now the same thing would cost you around $12,000. In December, that figure was $17,000. Bitcoin is one of the so-called ‘cryptocurrencies’ but the most successful by far: its market value has at times been greater than that of Disney or IBM. In […]

C+T’s Entrepreneurial Tax Team win again at the EIS Awards!

Massive congratulations to our Entrepreneurial Tax Team on being highly commended in the Best EIS/SEIS Tax Adviser category at the EIS Association Awards for the third year in a row! Also special congratulations to our Entrepreneurial Tax Partner Neil Norman on winning the Best Result in EIS Diploma in the UK – he is officially […]

Creative Scotland funding announcement and the importance of financial planning

Creative Scotland recently announced the recipients of its ‘Regular Funding’ for the period 2018-2021. The body distributes government and National Lottery funds to the arts sector in Scotland. Euan Morrison, Chiene + Tait’s Head of Charities, said: “There has been a degree of controversy surrounding these decisions. A number of longstanding recipients of funds from […]

Dave Roberts appears in Scottish Housing News – RSLs need to adopt new CIPFA financial code

Our social housing specialist Dave Robert appears in the current edition of Scottish Housing News talking about the new Treasury Management code due to be published shortly by CIPFA, the reasons for the changes, what the key changes are likely to be and what RSLs need to do to ensure they comply. To read the […]

Who’d be a charity trustee?

Rory Kennedy, our Rural Estates Partner, has been a charity trustee for three different charities therefore has a wealth of charity experience, and has worked with plenty more. Here he offers his thoughts on the benefits – and drawbacks – of being a trustee. I’ve had various roles (including trustee, chair, vice chair, and member […]

Turn Blue Monday into Blue-Sky Monday!

HR Manager, Fiona Galletly advises how to turn today from Blue Monday into Blue-Sky Monday! Today is apparently Blue Monday! This is a term which was coined by a lecturer at Cardiff University to describe today, as the day, statistically, that we are most likely to suffer from feeling the blues. What this can translate […]

Dave Roberts in Independent Schools report in Business Insider Magazine

Dave Roberts, Chiene + Tait Business Support Director, appears in the Independent Schools Report, in the January/ February 2018 edition of Business Insider Magazine. “The current market for international schools is challenging,” says Dave Roberts, director and independent schools sector specialist at accountants Chiene + Tait. “Pupil numbers are holding up but not increasing. Due […]

Do drivers dream of electric cars?

(This article on electric cars first appeared in the Winter 2017/18 edition of our Connect newsletter.) It will now cost you £21.50 to drive into central London if your car is more than 10 years old. If it’s a diesel, by next April it could cost you £24. Edinburgh and Glasgow councils are considering their […]

Are you able to pivot?

The recent Barclay review of Non-Domestic Rates has again brought into focus the need for businesses to remain agile, and be able to pivot. (This article first appeared in the Winter 2017/18 edition of our Connect newsletter.) The Barclay review sought to enhance and reform the system of Business Rates collection in Scotland and, while […]

Creative industries tax reliefs

Museums and galleries tax relief became the latest addition to the Government’s suite of incentives for the creative industries, which can make arts and media projects affordable. Catriona Finnie, who heads up our Creative Industries Tax Relief offering, looks at a selection of reliefs most relevant to our clients. (This article first appeared in the […]

Automating your bookkeeping

Taking advantage of new software can save you time and money. (This article first appeared in the Winter 2017/18 edition of our Connect newsletter.) As technology advances, so too do the opportunities to improve processes. For bookkeeping, that can be automating data entry, whether it be sales, purchases or bank transactions. This enables accurate and […]

Pensions and divorce

The pension pot should be part of any divorce discussions, says Mark Dobson of Chiene + Tait Financial Planning. (This article first appeared in the Winter 2017/18 edition of our Connect newsletter.) For many couples, the two most valuable assets they own will be the family home and the combined value of their pension pots. […]

Independent schools to lose rates relief?

(This article first appeared in the Winter 2017/18 edition of our Connect client newsletter.) The Scottish Budget announced measures to scrap the business rates relief that independent schools receive as charities. This was the result of the Barclay Review, which thought it “unfair” that independent schools receive rates relief, whereas state schools do not. However, critics […]

UK and Scottish Budgets 2017: Two Coins in the Fountain

Two different finance ministers have now presented their tax plans. Moira McMillan wonders how they will work. (This article first appeared in the Winter 2017/18 edition of our Connect client newsletter.) I recently celebrated 25 years of working at Chiene + Tait. I really do not know where the years have gone since I first […]

Barry Truswell recruited to Chiene + Tait as Audit Partner

Accountancy firm Chiene + Tait has announced the appointment of Barry Truswell as one of our team of Audit Partners. With over 15 years of audit experience, he joins the firm from a senior role at Scott Moncrieff. In his new role, Barry will focus mainly on providing audit and assurance services to SME and […]

The art of corporate finance negotiation (Part 5)

This is the fifth and final blog of the series that our Partner and Head of Corporate Finance, Paul Mason, has written, based on his experience of negotiating deals successfully over many years. Part 1 (Every conversation is part of the negotiation) can be found here. Part 2 (Negotiate the ‘Heads’) can be found here. […]

The art of corporate finance negotiation (Part 4)

This is the fourth blog in a series of 5 that our Partner and Head of Corporate Finance, Paul Mason, has written, based on his experience of negotiating deals successfully over many years. Part 1 (Every conversation is part of the negotiation) can be found here. Part 2 (Negotiate the ‘Heads’) can be found here. […]

The art of corporate finance negotiation (Part 3)

This is the third blog in a series of 5 that our Partner and Head of Corporate Finance, Paul Mason, has written, based on his experience of negotiating deals successfully over many years. Part 1 (Every conversation is part of the negotiation) can be found here. Part 2 (Negotiate the ‘Heads’) can be found here. […]

The art of corporate finance negotiation (Part 2)

This is the second blog in a series of 5 that our Partner and Head of Corporate Finance, Paul Mason, has written, based on his experience of negotiating deals successfully over many years. Part 1 (Every conversation is part of the negotiation) can be found here. Negotiate the ‘Heads’ (Part 2) Irrespective of how amicable […]

The art of corporate finance negotiation (Part 1)

Turning a blank canvas into a masterpiece (Part 1) This is the first blog in a series of 5 that our Partner and Head of Corporate Finance, Paul Mason, has written, based on his experience of negotiating deals successfully over many years. As corporate financiers, we advise companies, owners and directors on acquisitions and disposals […]

Paul Mason in Business Insider Magazine

Paul Mason, Chiene + Tait Corporate Finance Partner, appears in the December edition of Business Insider Magazine answering the Burning Question ‘Is the increase in base rate likely to help growth in the Scottish economy?’. To view the article online click here.

Airbnb and UK Tax

Summer has now passed, but it’s still difficult to walk through the centre of Edinburgh without encountering a large number of tourists.  Edinburgh is well served by hotels and guesthouses, but according to recent figures*, an increasing number of tourists are staying in properties made available for letting by local residents.  The Airbnb sector is […]

Trustee Week 2017 – Demystifying what it takes to be a trustee!

Thinking of becoming a trustee? Curious about what the responsibilities are? Not sure what’s involved? Then look no further. Our infographic outlines step by step the function that a trustee provides to a charity. If you are thinking about becoming a trustee and not sure where to start, STEP has launched an online training course. […]

Euan Morrison in Third Force News: Charities encouraged to consider greater board diversity

Chiene + Tait’s Head of Charities, Euan Morrison, appears in Third Force News advising charities to consider having a greater diversity on their board of trustees, ‘Third sector organisations need to adopt new ways of thinking if they are serious about addressing this imbalance. More young people might be attracted to a trustee role if […]

Iain Masterton in The Scotsman: Tax implications of Brexit

Iain Masterton appears in today’s Scotsman talking about the tax implications of Brexit: ‘One worrying aspect of this plan, which has yet to be even discussed with the EU, is that it would likely become null and void should the Brexit talks end with no deal in place. In this scenario, which is far from implausible, […]

C+T Inverness: 1 year anniversary

We are delighted to celebrate the 1 year anniversary of our Inverness office! Huge congrats to the C+T Inverness team Jackie Fraser, Shona Fraser, Alex Noble and Chloe Smith on their achievements over the past year!

New AGN International report: Cyber Security: The international threat to business continuity

The largest and arguably most powerful ransomware attack the world has seen started to infect IT systems on Friday 12 May. The ‘WannaCry’ virus threw organisations in the UK, US, Russia, Germany, China and more into meltdown: 157 countries were involved in the attack. We’ve since seen additional ransomware attacks at the end of June […]

Carol Flockhart in The CA Magazine: Firms raise their game

Our Managing Partner, Carol Flockhart, appears in the current edition of The CA Magazine talking about our hugely successful financial year: “turnover has increased by 14% compared with our previous financial year.” To read the article in full, please download the accountancy review report here.

Jackie Fraser in Business Insider: Opportunities in Inverness are growing again

Jackie Fraser, Director in the Chiene + Tait Inverness office comments on why Inverness is growing in Business Insider Magazine’s feature – Seven reasons why Inverness is bidding to be the UK’s fastest growing city again. To read the report in full, visit the Business Insider website here – http://www.insider.co.uk/special-reports/seven-reasons-inverness-bidding-uks-11329646?ptnr_mid=6088056&ptnr_rid=490267&icid=EM_BusinessInsider_Nletter

How to plan for the future in turbulent times

Moira McMillan, Chiene + Tait Tax Director, writes about how to plan for the future in turbulent times. When the news is dominated by turbulent events, it becomes harder to plan for the future. I remember writing an article for Connect newsletter just before the Scottish independence referendum in September 2014 which mentioned the famous […]

Heading for the exit door

Paul Mason, Corporate Finance Partner, has analysed the market and identified key trends. Here he reports on the exit market post-financial crisis, and the implications for business owners. Pre-2008, there was a bull run. Businesses were being bought and sold at a fast pace. There was significant liquidity available from debt and equity investors; this […]

Catriona Finnie in Scottish Financial News: Chiene + Tait charity tax specialist appointed to UK Gift Aid group

Catriona Finnie, a key member of the Charities and Education Group at Edinburgh accountancy firm Chiene + Tait (C+T), has joined HMRC’s newly-formed working group, set up to consider increasing the effectiveness of UK Gift Aid relief. The assistant tax manager becomes one of the first Scottish-based members to join the group, while C+T is […]

Scottish Rural Awards 2018 – Nominations Open!

Nominations for the Scottish Rural Awards 2018, celebrating the best rural Scottish business, are now open. The awards represent a benchmark of excellence in Scotland’s countryside – a celebration of the enterprise, innovation, dedication and community spirit of those who live in rural Scotland. Now in their fourth year, the Scottish Rural Awards, partnered by […]

Jeremy Chittleburgh in Business Insider Magazine: Independent Schools Report

C+T’s Jeremy Chittleburgh is featured in Business Insider Independent Schools Report talking about the different choices available to parents ‘Independent schools are still financially viable, but don’t carry as much surplus as previous years. “The significant opportunity for independent schools at present is the potential to attract more overseas students because of the current low […]

Dave Roberts in Scottish Housing News: Good governance can help registered social landlords avoid being in high regulation

Dave Roberts, C+T’s Director of Business Support and Social Housing Group member is featured in Scottish Housing News talking about how good governance can help registered social landlords (RSLs) to avoid being in high regulation. To read the blog, visit the Scottish Housing News website here.

Neil Norman in Business Insider Magazine: Why Brexit could be a huge blessing for Scotland’s entrepreneurs

Neil Norman, C+T’s Head of Entrepreneurial Tax is featured in Business Insider talking about why Brexit may provide opportunities for entrepreneurs in Scotland. To read the opinion article, visit the Business Insider website here.

Iain Masterton in Business Insider Magazine: Crowdfunding is a grey area for HMRC

‘Iain Masterton, director of VAT and indirect tax at Chiene + Tait , says that businesses looking to raise finance via the crowdfunding route should carefully consider the VAT implications before going ahead. He says that if the crowdfunding pitch includes the funders getting a product in exchange for their funds then the business might […]

Rory Kennedy article in The Scotsman: Benefits of field sports go far beyond tourism

Scotland’s field sports undoubtedly deliver significant tourism spend to our rural communities. However, this is often the sole argument used against its detractors in public debate. Importantly, it can also prove a vital contribution to all three pillars of rural sustainability: environment, economy and culture, and this needs to be better recognised in government policy. […]

Scottish Game Fair Seminar – Podcast Available

The Chiene + Tait rural team recently held a seminar at the Scottish Game Fair that looked at Scotland’s country sports – perspectives in community benefit and community resource. Rory Kennedy, Chiene + Tait’s Rural Estates Partner interviewed our two guest speakers from: Gallanch Lodge, Isle of Muck, and North Harris Community Trust And then […]

Charity Accounts Update (SORP FRS 102 Information Sheet 1: Implementation Issues)

In the past the Charity SORP making body has produced “information sheets” which “seek to clarify the application of the SORP or particular recommendations contained within the SORP”. Information Sheets are advisory in nature and do not form part of the SORP, however, they are considered ‘best practice’ in terms of application of the SORP. […]

Museums and Galleries Tax Relief: back on track

We received confirmation yesterday that the government will publish a Finance Bill after the summer parliamentary recess, signalling that Museums and Galleries Tax Relief is back on track for launch this year. This new Finance Bill will re-introduce all of the provisions previously withdrawn from the Finance Act 2017, which was significantly slimmed down owing […]

C+T Inverness Office Expansion

Accountancy firm Chiene + Tait (C+T) has announced another expansion of their Inverness operation to support local businesses with the recruitment of Dean Clark who joins from ‘Big 4’ firm EY. He becomes the latest recruit to the firm’s Inverness office which has significantly grown its business since opening in November last year. Dean will […]

The Common Reporting Standard (CRS)

The Common Reporting Standard (CRS) is a new initiative designed to increase tax transparency. Though primarily aimed at financial institutions such as banks, it has ramifications for many types of organisations. The regulations imposed by CRS are onerous and complex. We have produced Comment On factsheets showing the impact CRS will have on: Charities Trusts […]

Tax Changes to Buy To Let Property Rules for Landlords

Recent changes to the taxation of buy to let properties will have a substantial impact on landlords. Land and Buildings Transaction Tax (LBTT) From 1 April 2016, the Additional Dwelling Supplement imposes an additional 3% ‘slab tax’ on the acquisition of residential property which is not the purchaser’s main residence. Restriction to Income Tax Relief […]

Mortgage Interest Relief for Residential Landlords

Measures announced in the April 2015 Budget which impact on residential landlords took effect from 6 April 2017.  Previously, relief for finance costs, primarily mortgage interest, was deducted in full from property income to arrive at the level of taxable rental profit. Under the new rules, a basic rate reduction, equal to 20% of the […]

New webinar: Payroll Update 2017

This Spring Chiene + Tait’s Head of Payroll, Neil Cameron, delivered a Payroll Update 2017 webinar covering important changes and developments that affect all employers. Neil covered the Apprenticeship Levy, pension auto re-enrolment, gender pay gap regulations, and the new National Living and Minimum Wage rates. There were also some submitted questions which Neil answered […]

Common Reporting Standard – preparing your charity

The Common Reporting Standard (CRS) is a new HMRC reporting initiative aimed at increasing tax transparency and may affect your charity if you have investments, and particularly if you are a grant-giving organisation. Each year, charities judged to be ‘financial institutions’ will have to identify, perform due diligence and report on certain people who have […]

Chiene + Tait and TIAA come together in new strategic alliance

Chiene + Tait and TIAA today announce an exciting new strategic alliance to boost both businesses. The internal audit function of Chiene + Tait – its staff, clients and knowledge – has transferred to TIAA as part of the alliance. TIAA will now be responsible for the delivery of internal audit to both TIAA and […]

VAT: Another single/multiple supply case caught in the net

This article first appeared in our Summer 2016 Rural Business Update. Download the full publication here. A recent VAT tribunal involving a trout fishery has thrown more light upon the VAT liability of multiple supplies, a complex area of VAT law. Stocks Fly Fishery, in Lancashire, argued that they were supplying a multiple offer of […]

VAT’s what SMEs need to know

Iain Masterton, our VAT Senior Manager, looks as VAT for SMEs. Dealing with Value Added Tax (VAT) is, for many SMEs, one of many ‘necessary evils’ that accompanies running a business. Although it might make your head hurt, a decent understanding is essential in both compliance and financial terms. VAT accounts for around 22 per […]

The Common Reporting Standard for Financial Institutions – impact on charities

The Common Reporting Standard (CRS) could affect charities that have large endowment funds. The CRS was implemented into UK law in 2015, via the International Tax Compliance Regulations 2015, and is part of a wider drive to prevent the global use of off-shore structures to evade tax. How does the CRS affect charities? All UK […]

Orchestra Tax Relief

Orchestra Tax Relief (OTR) is a new creative industry tax relief which was introduced on 1 April 2016 and is designed to encourage and support orchestras throughout the UK. As with other creative industry tax reliefs, OTR increases the level of deductible expenditure available for corporation tax purposes. Should this result in a taxable loss, […]

The Buck Stops Here: landowners and vicarious liability

For landowners, the Wildlife and Natural Environment (Scotland) Act 2011 act saw a significant shift of emphasis on the burden of proof in relation to raptor crime by introducing vicarious liability, a situation in which one party is held responsible for the unlawful actions of a third party. Relevant crimes include killing, taking or disturbing […]

Charities SORPs Update

Following a public consultation in 2015, the charity SORP making body issued in February 2016 ‘Update Bulletin 1’ which amends the Charities SORP (FRS102) in a number of areas that were highlighted as part of the consultation process. The areas updated include: Amendments to how stock held for distribution to beneficiaries should be valued Changes […]

Scottish Charity Regulator – Hitting the Target

OSCR (The Office of the Scottish Charity Regulator) has formally announced the next steps in its drive to increase accountability among Scottish charities and amend and enhance its monitoring of the sector. From 1 April 2016, on a rolling basis, the Regulator will be making the accounts of larger charities and Scottish Charitable Incorporated Organisations […]

What is Theatre Tax Relief and who qualifies?

Theatre Tax Relief (TTR) is a generous relief, which was introduced on 1 September 2014 to recognise the cultural and economic significance of theatres in the UK. The Government hopes the relief will encourage and support UK theatre producers. TTR is available to any business within the charge to corporation tax, including not for profit […]

C+T team complete Great Pentlands Push challenge

A team of intrepid plodders from Chiene + Tait has completed the Great Pentlands Push challenge and in the process raised vital funds for the work of St Columba’s Hospice. The team, called Between a Walk and a Hard Pace, trekked over 18 miles through the Pentland Hills in Edinburgh on Saturday 21st September. St […]