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Chiene + Tait Statement: Neil Cameron

It is with great sadness that we share the devastating news of the sudden passing of our friend and highly respected colleague Neil Cameron. Throughout his 13 years of service with the firm, Neil led our payroll department with passion and professionalism and was held in the highest regard by all who knew him. He […]

New draft legislation affecting R&D tax credit claims

HMRC has published draft legislation that introduces a PAYE/NIC cap on the payable tax credit available for R&D claims under the SME scheme. A cap has been discussed for a number of years in order to help prevent abuse of the SME scheme and there is already a similar cap under the RDEC scheme.  There was, […]

Trustees’ Week 2020

This year’s Trustees’ Week runs from 2-6 November 2020. Each year, Trustees’ Week highlights the work that trustees do for their charities; and shares and promotes the role that trustees play. If you are thinking of becoming a trustee, find our more here. Read more here: Follow on Twitter here: Chiene + Tait […]

Auditing remotely: how we delivered audits during lockdown

In this post, Stuart Beattie looks at auditing remotely. But, while this post is specific to audits, we have used similar tools and processes for all of our client work done remotely this year. October heralds the end of the busiest time for the audit department. Looking back on a busy season that has been […]

Extra support offered to businesses in local lockdown areas

The UK Government has announced extra support to businesses based in all UK areas with local lockdowns that must close to combat a rise in coronavirus infection cases. Businesses will be offered two-thirds of workers’ wages in the form of a grant from 1 November for six months, with a review in January. With the […]

Job Retention Scheme Bonus Details Announced

Further information about the Job Retention Scheme Bonus was released this month by HMRC. Please find below key points related to the Bonus and where to source further information. What is the Job Retention Scheme Bonus? The bonus is a £1,000 one-off taxable payment to the employer, for each eligible employee that was furloughed and […]

C+T nominated for Best EIS/ SEIS Tax Adviser award

We are delighted to announce that Chiene + Tait has been nominated for the Best EIS/SEIS Tax Adviser award at the EISA Awards 2020, the annual celebration of the #EIS, #VCT and tax efficient investment industry and community. This will be the fifth year the firm is nominated, having been ‘Highly Commended’ for the last […]

How to Find Financial Expertise for Your Charity

Most people on charity boards would agree that it is useful to have someone with financial expertise also on the board, so that they can deal with the ‘finance stuff’. However, charities often struggle to recruit people with any financial know-how and charities can survive without this skill set, so does it really matter? In […]

Self-Assessment Taxpayers get additional help through HMRC Time To Pay

UK taxpayers can now apply online for additional support from HMRC to help spread the cost of their self-assessment tax bill from an annual payment to smaller monthly payments. In his Winter Economy Plan, Chancellor Rishi Sunak announced that taxpayers could pay amounts due on 31 January 2021 (including any deferred payment on account from […]

Current Position of the Scottish Investment Market

In this new blog post, Neil Norman Entrepreneurial Tax Partner at Chiene + Tait gives an overview of the current position of the Scottish investment market and the impact Covid-19 has had on investments. Trends and changes Covid-19 has triggered major changes in the Scottish investment market. We have seen many companies seeking funding, but […]

Welcome to our Research & Development week!

This week we will focus on the work of our Research & Development Tax team, highlighting the work they do for clients; sharing hints, tips and advice on how to utilise R&D Tax relief; and hearing directly from clients themselves on how they have found working with us. One of the most generous corporation tax […]

Key questions to ask a research and development tax adviser

David Philp, Head of Research & Development Tax Relief at Chiene + Tait, provides a step by step guide for businesses to use when approaching an Research & Development Tax adviser about whether a project qualifies for the relief. Whilst there are a number of good, tax-focused, R&D advisers operating within the UK, there are […]

Research & Development Tax Relief: ways to maximise your claim

Our team of full-time Research & Development (R&D) Tax Relief specialists has highlighted the key areas where there are opportunities to maximise your R&D claim that can be commonly missed:   Grant funding Companies often incorrectly believe that receiving grant funding means that they are not eligible to claim R&D tax relief. This is not […]

Research & Development tax relief: common mistakes we see on claims already submitted to HMRC

Here at Chiene + Tait, our team of full-time Research & Development (R&D) Tax specialists work with many different sized companies across various industries. Whilst the majority of our work is first time submissions, we also review and amend previously submitted claims. Time and again we see companies over and underclaiming their eligible relief due to […]

How can R&D tax relief help cashflow during the recession?

In this blog, Eilidh Hobbs in our Research & Development Tax Relief team highlights how the relief can provide a lifeline for qualifying businesses during the current recession. Most, if not all, businesses have been affected in some way by Covid-19. Some have been lucky enough to see a surge in demand due to the […]

Research & Development Tax Relief: common misconceptions

There are several big misconceptions surrounding Research & Development Tax Relief – we come across them on a near-daily basis. Despite it being one of the most generous corporation tax breaks available, many people rule themselves out without looking into it in greater detail. But if you do look into it, you might be surprised […]

Caution: COVID-19 loans could affect Research & Development Tax claim

The Coronavirus Business Interruption Loan Scheme (CBILS) and the Bounce Back Loan (BBL) are two of the most common COVID-19 reliefs provided by the Government, facilitating in over £50bn in loans that have helped thousands of businesses with their cashflow during the pandemic. These have proven to be a vital lifeline to many, but there […]

COVID-19 Jobs Support Scheme Announced

The Chancellor has announced the launch of a new COVID-19 Job Support Scheme, following the end of the UK furlough scheme in October. The new Scheme will run for six months starting in November 2020, following the end of the current furlough scheme. Those who used the furlough scheme will be able to claim the […]

Chancellor Rishi Sunak offers more Coronavirus support

Chancellor Rishi Sunak today announced a series of new measures in his Winter Economy Plan, aimed at supporting employees and employers in the continuing fight against the impact of Coronavirus. A summary of the areas he highlighted are below. Business loans Bounce Back Loans will be extended from six years to 10, cutting monthly repayments […]

How organisations can build resilience

In this blog as part of the Future Of… series, David Shadwell Accounts and Business Support Partner outlines how organisations can build resilience during tough times. Businesses that are agile, flexible and opportunistic can thrive in a world of uncertainty. A truly resilient organisation has an ability to turn a crisis into a source of […]

Chiene + Tait’s Future Of… series launched

Chiene + Tait has launched a new LinkedIn group aimed at providing a discussion forum to support Scottish businesses in a post-pandemic world. The Future Of… group will bring together experts from across the Scottish and UK business community and will focus on key economic challenges being faced, and how these could be overcome by […]

Second round of Self-Employment Income Support Scheme now open

Self-employed people whose trade has been hit by Coronavirus can now apply for a second, and final, Self-Employment Income Support Scheme (SEISS) grant of up to £6,750 from the government. The online claims service on GOV.UK opened on 17 August and the deadline for claiming the second grant is 19 October. The claims window is […]

Chiene + Tait launch Just for Jess Challenge

In the summer of 2019 our beloved colleague Jessica Welsby tragically passed away whilst on secondment in Australia. In her memory, at the end of August, Jess’ family will undertake the Just for Jess Challenge and cycle from her home in St Helens to Edinburgh, a total of 230 miles in aid of SADS UK. […]

COVID-19 Redundancy Pay Level Protected

The UK Government has confirmed that in the event of redundancy, workers’ wages will be protected regardless of being on furlough. In response to a minority of firms taking advantage of the current COVID-19 pandemic to pay a lower rate of redundancy, any furloughed workers that lose their jobs will now be eligible for redundancy […]

Finishing university and returning to C+T: all from my bedroom

In this blog, Entrepreneurial Tax Trainee Sarah Gibbens talks through the last months of finishing university and starting her new job at Chiene + Tait – all through lock down.   Many remember their final year of university fondly; sharing the last few months with your university friends before you end up miles apart, the […]

My advice for anyone taking a remote tax exam

In this blog, C+T’s Fraser McCallum shares his experience of taking a remote tax exam to help him achieve his tax qualification, and what advice he would give others who are planning to take an exam remotely. I was due to sit my final two exams on the ATT/CTA Tax Pathway at the start of […]

What businesses should focus on ahead of Brexit

The UK Government is pressing ahead with its post-Brexit planning, with the release of a Border Operating Model following engagement with businesses. The 206 page document is designed to give guidance to industries on how border issues will work after the transition period ends on 31 December and the actions that traders, hauliers, ports and […]

VAT Rate Cut

The Chancellor Rishi Sunak has announced a temporary 5% VAT rate which will come into effect from 15 July to 12 January 2021. The main areas which will be affected are: Sales of Food and non-alcoholic drink in restaurants, pubs, bars, cafes and similar premises; Hot takeaway food and non-alcoholic beverages; Sleeping accommodation in hotels, […]

Summer Statement 2020: Main Points

Chancellor Rishi Sunak today outlined a series of measures aimed at restarting the economy after the recent impact of the COVID-19 pandemic. Key points delivered in his speech were: Stamp Duty holiday – a temporary holiday on stamp duty, on the first £500,000 of all property sales in England and Northern Ireland, effective immediately. The […]

Jackie Fraser blog – how Scotland’s tourism sector can reopen after lock down

Tourism is one of Scotland’s most important and fast growing sectors contributing over £11bn to the nation’s annual GDP. Last year it employed around 218,000 people accounting for more than eight per cent of total Scottish employment. In 2018 total overnight tourism trips in Scotland reached 15.5 million, a rise of three per cent from […]

Running an accountancy practice through the COVID-19, and beyond

Chiene + Tait’s new Accounts and Business Support Partner, Dave Shadwell, was delighted to recently take part in an online discussion led by MyWorkPapers, with leaders from other accountancy practices. The event focused on experiences of running a practice through the COVID-19 crisis and how, in the future, firms may work differently. Here, Dave talks […]

Gift Aid Emergency Relief Package for Charities

Whilst HM Revenue & Customs (HMRC) have provided a vast amount of support to individuals and organisations throughout the COVID-19 pandemic, a coalition of organisations in the charity sector are highlighting that more can, and should, be done to support the third sector. During the pandemic, many organisations in the third sector have been stepping […]

COVID-19 VAT Payment – Deferral

We provided an update previously that the UK Government was allowing VAT registered businesses to defer the payment of VAT due from March 21 to 30 June, due to COVID-19.  This covered VAT returns with a period end of 31 March, 30 April and 31 May. The Government has not extended this further so any […]

Farmers and consumers need post-Brexit protection

The UK Agriculture Bill had its second reading in the House of Lords last week, with growing concerns raised about the lack of amendments to protect UK farmers and producers from lower quality imports in post-Brexit Britain. The Bill will replace the EU subsidy system where an average of £2.88 billion was paid out annually […]

Further delay in implementation of Construction Services Domestic Reverse Charge

HMRC has issued a short brief, which outlines that the introduction of the domestic reverse charge for construction services will be delayed a further 5 months until 1 March 2021, due to the impact of the Coronavirus pandemic on the construction sector. The domestic reverse charge for building and construction services was originally planned to […]

How COVID-19 reliefs impact Research & Development Tax claims – update

HMRC have sent us further details clarifying their stance on certain COVID-19 reliefs. The Bounce Back Loans (BBL) Scheme HMRC has confirmed that this has been notified as a state aid, following similar notification of the Coronavirus Business Interruption Loan Scheme (CBILS). Being in receipt of the BBL or CBILS could impact a potential R&D […]

How COVID-19 reliefs impact Research & Development Tax claims

The Chiene + Tait team has been inundated with queries regarding the various new COVID-19 reliefs that are available for businesses. Whilst cash has always been ‘king’ for businesses, there has never been a more important time to have sufficient reserves. Research & Development (R&D) Tax Relief has been the ‘go-to’ cash relief for innovative […]

COVID-19 – Charity financial management and reporting considerations

The economic effect of COVID-19 has, of course, been far reaching for the charity sector, whether due to dramatic falls in donations and trading activities, uncertainty over current or future funding, reduction in investment values and returns, not to mention increased demand for many services. The significance of this does require trustees and management to […]

COVID-19 – Resources available to the charity sector

Just a reminder that there are a number of different resources that have arisen associated with COVID 19, to assist the voluntary sector. Generally, these comprise grants, loans, and in some cases tax reliefs. Grant funding As access to grants is changing on a regular basis, the best sources of information are representative bodies, membership [...]

COVID-19 – Ways charities can use tax to ease cash flow

Whilst the UK Government announced a package of support for the third sector to assist it through the current crisis, many in the sector have still been left disappointed by the support offered. However, charities can look to established tax benefits to help ease their cash flows and assist them through the current crisis. 1. […]

COVID-19 Extension to option to tax deadline for land and buildings

HMRC has announced temporary changes to the time limit and rules for notifying an option to tax (OTT) land and buildings during the COVID-19 outbreak. Under the normal time limits, there is a requirement to notify HMRC of a decision to opt to tax land and buildings within 30 days by either: a) Printing and […]

New COVID-19 advice video – fraud risk

In his second video, David Shadwell, Accounts and Business Support Partner, looks at fraud risk for businesses – the conditions that increase the likelihood of fraud being committed and the practical steps to take to minimise your risk. A transcript of the video can be found below. If you have a question about cyber crime […]

New COVID-19 advice video – cyber crime

David Shadwell, Accounts and Business Support Partner, has recorded a series of videos looking at aspects that UK businesses should keep in mind as we navigate out of the COVID-19 lockdown. The first video looks at cyber crime and how businesses can take simple steps to protect themselves. A transcript of the video can be […]

COVID-19 Pivotal Enterprise Resilience Fund Reopens but with strings attached

Breaking news – the Scottish Government has announced that they plan to reopen the Pivotal Enterprise Resilience Fund next week (w/c 11th May, final details to follow) after they were inundated with applications over the first weekend of applications. The pot will swell by another £45m (£90m allocated to the fund in total) for businesses […]

The top 5 post-lockdown lessons for UK businesses from New Zealand

In his second blog on lessons learnt from New Zealand and moving forward from the COVID-19 lockdown, our newest Partner David Shadwell looks at what lessons UK businesses can learn from NZ and how to prepare in small steps to return to normal. 1. Develop a COVID-19 plan so your business operates safely Under the […]

Does New Zealand provide the UK with post-lockdown hope?

In his first blog, David Shadwell (who recently moved from New Zealand to join Chiene + Tait as our newest Partner) considers how the UK can learn from the NZ approach to removing the lockdown and how we can take some confidence that there is a light at the end of the current COVID-19 tunnel. […]

UK Government confirms VAT Zero rating for PPE

The UK Government has confirmed that from 1 May 2020, personal protective equipment (‘PPE’) purchased by care homes, businesses, charities and individuals to protect against Coronavirus will be zero rated for three-month period. This will be particularly beneficial for care homes, charities and individuals for whom VAT would be a cost.  The Government estimates that […]

VAT Zero Rating on E-publications Announced

The zero rate of VAT will now apply to all e-publications from 1 May 2020. In the recent Budget this measure was due to come into force in December, however the Chancellor Rishi Sunak has brought the measure forward. Digital publications have previously been taxed at 20% in the UK whereas printed publications have been […]

Tax relief on home working costs during COVID-19 lock down

Given the Coronavirus outbreak, many employers will be considering providing their employees with additional support for working from home. If so, they will need to consider the tax implications of the payments. HMRC guidelines permit employers to pay their workers who regularly work from home under an agreed arrangement, a tax-free payment of up to […]

David Shadwell joins us as Accounts and Business Support Partner

David Shadwell, an experienced financial services sector and SME business adviser, has been appointed as Partner within Chiene + Tait’s (C+T) Accounts and Business Support team. A University of Edinburgh graduate, he returns to the UK after a nine year spell in New Zealand. David initially trained and qualified with a Big 4 firm in […]

Residential Property – 30 Day Capital Gains Tax Returns

New rules requiring taxpayers to submit Capital Gains Tax (CGT) returns to report the sale of residential properties came into force on 6 April 2020.  These rules require taxpayers selling such properties to file a CGT Tax Return with HMRC and pay the tax due within 30 days of completion.  This will particularly affect those […]

Making Tax Digital ‘digital links’ requirement delayed

In response to the COVID-19 crisis, HMRC has confirmed that any businesses undertaking Making Tax Digital (MTD) for VAT now have an extension to 1 April 2021 (previous deadline 1 April or 1 October 2020) to meet the ‘digital links’ requirement related to their recordkeeping systems. To be MTD for VAT compliant, the digital links […]

COVID-19 – Chiene + Tait: Business Continuity Plans

A statement from our Managing Partner, Carol Flockhart: 24 March 2020 This is an unprecedented time, with significant challenges both in people’s personal and work lives and the economy. We would like to reassure you that the safety of our people and the importance of continued client service are our two current operational focuses which […]

Budget 2020

Read our summary of the Budget 2020, delivered by Chancellor of the Exchequer Rishi Sunak on 11 March 2020.

Year End Tax Review 2019 – 2020

There are a number of tax points to consider before the 5th April 2020. Download our free Year End Tax Review brochure here that highlights key areas to keep in mind. Don’t hesitate to contact our tax team today if you have any queries about any tax-related issues.

R&D Tax credits and Grants – how to maximise relief

Grants are an essential tool for growing a business, but did you know that by receiving a grant, it could restrict your company’s ability to claim further Research & Development (R&D) tax reliefs and incentives? In this article, Dave Philp Chiene + Tait’s Head of Research & Development Tax outlines the implications of receiving a […]

Key outcomes from the 2020 draft Scottish Budget

Hazel Gough, Tax Partner at Chiene + Tait runs through some of the main headlines from the Scottish Budget. The Scottish Budget didn’t offer much in the way of headline messages, but as with all budgets, there were some key points in the details delivered by Public Finance Minister Kate Forbes. Normally, the Scottish Government […]

Managing Partner Carol Flockhart interview in The Scotsman

C+T’s Managing Partner Carol Flockhart was featured in The Scotsman’s Big Interview this weekend “…She also stresses that growth to date and for the foreseeable future is organic. Its independence, and the opportunities that brings, is also key. ‘I think it allows us to be very agile, very nimble. We’re the masters of our own […]

Neil Norman appointed to board of international accountancy body

Neil Norman, the head of Chiene + Tait’s (C+T) Entrepreneurial Tax Team, has been appointed to the board of the global accountancy association AGN. Representing 200 separate and independent accounting and advisory businesses in over 80 countries, AGN promotes worldwide expertise, best practice and new developments to improve the quality of accountancy services and support […]

The Employment Allowance is changing

What is the Employment Allowance? The UK Government provides an annual allowance of £3,000 to employers, which they can off-set against their employers’ (secondary) Class 1 National Insurance Contributions (NICs).  It was introduced as an incentive for organisations to help recruit their first employees or expand existing work forces in addition to providing a restriction […]

Quick investment required? Could ASA save the day?

If you are looking to plug a funding gap quickly and easily, whilst ensuring EIS tax relief for your investors, there are few options available. A funding round from new or existing investors can be a lengthy process, requiring due diligence, valuation agreement and long-form legal documents. A convertible loan note sometimes causes problems under the […]

Digital Newspapers: Zero-rating win for The Times in Upper Tribunal

News Corp (that own the Times and Sunday Times) previously lost a VAT Tribunal in 2018 where they tried to argue that their online digital newspapers should benefit from the same VAT treatment as printed editions. At the Upper Tribunal, the judge found in favour of News Corp stating ‘that item did not exist in […]

European VAT ‘Quick Fixes’ for EU Cross-Border Trade from 2020

The UK’s departure date from the EU is still to be decided and it is likely that there will be a transition period for at least 12 months once this is finalised. It is therefore important to highlight the fact that EU VAT laws will still apply to UK businesses trading with the EU during […]

C+T Head of Payroll calls for more professional standards

Neil Cameron, our Head of Payroll, appears in Accountancy Daily calling for greater professional standards in payroll. Payroll has increased in complexity over recent years: 174 pieces of legislation affect payrolls at time of writing. There have also been significant changes to payroll operations through things like Real Time Information, the National Living Wage, Apprenticeship […]

Lena Wilson appointed as Chiene + Tait’s new Chair

Dr Lena Wilson CBE, one of Scotland’s most prolific and experienced business leaders, has been appointed as the new Chair at Chiene + Tait. Dr Wilson has over 30 years’ business experience across more than 40 countries. She spent eight years as the highly-regarded CEO of Scottish Enterprise before stepping down in 2017. She is […]

MTD for VAT: Deferred Business – Act Now

As most will now be aware, MTD for VAT came into effect for most UK VAT registered businesses trading above the VAT threshold of £85,000 per annum from 1 April 2019. This meant that for the first quarter starting after this date (30 June 2019, 31 July 2019, 31 August 2019), these affected businesses were […]

Chiene + Tait to host Payroll Roundtable

We’re delighted to be hosting the Payroll Managers Roundtable on 4 December. The event is for payroll professionals and is operated by NewReality Consulting. It is part of a UK-wide series of roundtables held for professional payroll practitioners. The roundtable will cover the growing challenges the profession faces, and how to stay atop of developments. […]

Mairi MacIver joins C+T as new Accounts and Business Support Director

We are delighted to confirm the recruitment of Mairi MacIver as Director in our Accounts and Business Support (ABS) division. She will be based at our Edinburgh headquarters. Mairi joins from Anderson Anderson & Brown LLP, where she spent the last 15 years developing extensive knowledge and experience in delivering technology-driven client services. During her […]

Charity online advertising and VAT zero rating

We published a news item earlier this year confirming that charities have been contacted by HMRC in relation to advertising on social media.  Most advertising for charities is zero rated, however HMRC have been clarifying their interpretation on specific situations and contacting charities whom they believe may be receiving zero rating in error. HMRC has […]

Partnership promotions and further investment for our growing Inverness operation

We are delighted to confirm that Jackie Fraser and Shona Fraser, the two joint heads of its Inverness operation, are promoted to partner level. The move is part of further investment into our Highland office which has seen significant growth in clients and staff numbers since opening three years ago. Jackie Fraser became the firm’s […]

Join our Entrepreneurial Tax Team at the Ready Steady Grow 2019 Roadshow

Neil Norman and our Entrepreneurial Tax Team will be at the forthcoming Ready Steady Grow 2019 Roadshow on 8th October with The EIS Association, Seedrs, Equity Gap and lots of other experts talking all things funding, investment and growth. Ready Steady Grow! 2019 is the best opportunity for entrepreneurs, investors and business advisers to meet […]

Chiene + Tait Statement: Jessica Welsby

We are extremely saddened to share the tragic news of the sudden passing of our friend and colleague Jessica Welsby. Jess was a bubbly member of the Chiene + Tait team, with friends throughout the firm. She received glowing feedback from her clients and she made a positive impact with all those she met. Jess […]

Emma Louden Appointed to Prominent HR Committee

Emma Louden, HR Manager at accountants Chiene + Tait, has been appointed to the Chartered Institute of Personnel and Development (CIPD) Mid Scotland Branch committee focusing on health and wellbeing, plus employee engagement in the workplace. As the professional body that has represented the HR community for over 100 years, the CIPD is at the […]

Chiene + Tait promote Michelle Fallon to Partner

Accountants Chiene + Tait (C+T) have announced the promotion of personal and business tax specialist Michelle Fallon to the role of Partner. She was initially recruited to the firm as Personal Tax Manager and promoted to Director level in 2017. Fallon has been with the firm for six years, during which C+T has experienced significant […]

Land Promotion Agreements and hidden VAT charges – Iain Masterton discusses

Chiene + Tait VAT Director Iain Masterton is featured in the most recent LandBusiness magazine discussing the VAT treatment of Land Promotion Agreements (LPAs). Iain conveys the attractiveness of rural land development to property developers – and how, in turn, this enables landowners to enter into LPAs with promoters when they wish to maximise their […]

Chiene + Tait confirmed as Living Wage employer

Chiene + Tait has confirmed its commitment to paying all staff a fair wage by achieving our Living Wage accreditation. Our commitment will see everyone working at the firm receive a minimum hourly wage of £9.00 in the UK or £10.55 in London. Both rates are significantly higher than the government minimum for over 25s, […]

VAT: Construction Services Domestic Reverse Charge – Postponed until 2020

Following our recent articles regarding the construction services domestic reverse charge (“CSDRC”), the government has now decided to postpone the introduction of this mechanism until 1 October 2020. HMRC issued a short brief on 6 September which can be found at: This brief outlines that the change in implementation date has come about due […]

Construction Services Domestic Reverse Charge

Update September 2019: the Construction Services Domestic Reverse Charge has been postponed until 2020. HMRC has now issued new guidance in relation to the VAT reverse charge for building and construction services which will be introduced from 1 October 2019.  This new guidance supplements and expands upon the guidance note published in November 2019.  The […]

What’s next for the rural sector?

In this article, Rory Kennedy, Rural Estates Partner for Chiene + Tait looks at likely upcoming regulations affecting the rural sector. The Scottish rural sector has had to weather a barrage of legislative uncertainty in recent years. While Brexit remains an obvious focus, the Scottish Government continues to add uncertainties of its own. We are […]

Case Study: DIY Home Builders VAT Reclaim

The DIY House Builders VAT scheme is available for people who build their own homes to reclaim the VAT incurred on their building costs. This scheme puts self-builders in the same position as people who buy new houses from housebuilders in that the costs are zero rated for VAT. In its guidance to applicants HMRC […]

Chiene + Tait ImpaCT Day 2019

Our charity ImpaCT Day returned on 21st June, with staff volunteering with charities and charitable organisations in Edinburgh and Inverness. Charities supported Carers of West Lothian Waverley Care Upward Mobility Edinburgh Dog and Cat Home St Columba’s Hospice Eric Liddell Centre Barnardos Youth 2000 Project Ore Valley Housing Association Moray Firth Partnership We were delighted […]

Making Tax Digital – steps to sign up your business with HMRC

If your business is required to submit Making Tax Digital (MTD) compatible VAT returns, we have created a step by step guide as to how to apply for your new government gateway link. Don’t forget, if you pay VAT by direct debit, then you must sign up at least 7 working days before your first […]

Join our Entrepreneurial Team at Ready Steady Grow! 2019 Roadshow

Join Neil Norman, Entrepreneurial Tax Partner and a host of other experts at the forthcoming Ready Steady Grow! 2019 Roadshow. The Roadshow is the best opportunity for entrepreneurs, investors and business advisers to meet and share knowledge on all the exciting funding options and growth financing options for startups and SMEs. The roadshow will discuss […]

European Court Ruling may impact Charities VAT position on Investment Management fees

A recent case, in what may be one of the last UK VAT cases to be heard at the Court of Justice of the EU (CJEU), may have a significant impact on UK Charities who have investments and who have recovered any VAT on investment management services in the last 4 years. In C-316/18 – […]

Carol Flockhart comments on workplace gender equality

Chiene + Tait Managing Partner, Carol Flockhart has appeared in Scottish Business Insider Magazine discussing whether Scotland is doing enough to address workplace gender equality. Featuring in the Burning Question section, a number of key Scottish female business figures give their opinion on this question. To read the article in full, please visit the Scottish […]

Exit Readiness Masterclasses: your chance to enrol in the next round of classes

Recently, we presented the third (and final in the series) session of the Scottish Investment Bank Exit Readiness Masterclasses. The sessions were presented by our Entrepreneurial specialists in tax and corporate finance. Four companies selected by SIB participated in the series of three seminars aimed at giving their founders the information they need to drive […]

Reduced Rating for Energy Saving Materials including Solar Panels – VAT Update

In 2015 the European Commission challenged the UK’s treatment of the installation of energy saving materials. The UK treats the supply and installation of energy saving materials to residential properties as subject to 5% VAT. This includes all the costs under a contract assuming the materials meet the tests in the legislation. Energy saving materials […]

C+T Entrepreneurial Tax Team finalists for Tax Team of the Year

We’re delighted to say that our Entrepreneurial Tax Team are finalists in the 2019 Scottish Accountancy and Financial Technology Awards. The category is ‘Tax Team of the Year’. The ETT were awarded Tax Team of the Year in the 2018, 2017 and 2016 awards. The 2019 nomination follows success for the team at the EIS […]

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 on the agility of accountancy firms

Chiene + Tait’s Managing Partner Carol Flockhart appears on 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 […]

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 […]

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 –

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 […]

Research & Development Tax Relief, and reimbursed expenses – HMRC has changed its tune…again!

Reimbursed expenses forming part of a Research & Development (R&D) tax claim have always been a tricky subject. Initially, reimbursed expenses were allowed and explicitly included in R&D tax legislation. HMRC then issued guidance in 2014 contradicting this, stating that staffing costs were intended to cover contractual costs only. There has been much to-ing and […]

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 […]

Important changes to your payroll in 2017

Neil Cameron, who leads the C+T Payroll Team, looks at the three main changes to running a payroll for the year ahead. 1.The Apprenticeship Levy Affecting: all employers with a pay bill of more than £250,000 per month The Apprenticeship Levy is a new cost for employers from April 2017. This charge is based on […]

Making Tax Digital: software causes hard issues

Making Tax Digital continues to move towards implementation, despite a delay. Time to consider the software implications, says Daniel Braidwood in our Business Support Department During the 2015 budget, the Government announced their intention to overhaul the way in which we, the tax payers, submit our returns. The sea change was given the suitably on-trend […]

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. […]

Start date for Making Tax Digital delayed until 2020 (except for VAT)

After months of pressure from MPs and the Government’s Treasury Committee, HMRC have confirmed that Making Tax Digital (MTD) reporting will not start until April 2019, and then only for VAT purposes. MTD reporting for other taxes, will not start before ‘at least 2020’ to enable a reappraisal of the plans. HMRC and software providers […]

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 […]

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 […]

C+T Entrepreneurial Tax Team are 2017 Scottish Accountancy Awards ‘Tax Team of the Year’ finalists

We are delighted to confirm that our Entrepreneurial Tax Team are finalists in the 2017 Scottish Accountancy & Finance Awards ‘Tax Team of the Year’. We won last year and now nominated again – congratulations and well done to the team! For more information about the awards, visit their website here.  

Inverness Charity Seminar

We would be delighted if you would join us at our charity seminar with guest speakers Standard Life Wealth and Harper Macleod LLP. The event takes place on Wednesday 14th June at Tulloch Caledonian Stadium, Inverness. Doors open at 4pm, and we anticipate the event will close at 6:30pm. Topics that will be covered include […]

Non-Resident Capital Gains Tax Returns

With effect from 6 April 2015, the UK capital gains tax (CGT) regime was extended to bring into charge non-residents disposing of UK residential property. Before this date, CGT did not apply to non-residents, other than those carrying on a trade in the UK, and since 6 April 2013, companies subject to the annual tax […]

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 […]

New Webinar: Common Reporting Standard

Euan Morrison, Head of Charities at Chiene + Tait, discusses the Common Reporting Standard in this webinar. Euan covers what the Common Reporting Standard is, the circumstances where it might apply to charities, and if it does apply what the implications may be. You can watch the webinar here: You can also watch it on […]

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 […]

Blog – Top Tips for Tax-Efficient Angel Investing

As part of our support of the Investing Women Ambition & Growth Conference, Chiene + Tait Entrepreneurial Tax Team member, Kirsty Paton, has recorded a special webinar looking at top tips for tax-efficient angel investing. To read the blog post and also watch the associated webinar, please visit the Investing Women website here. If you […]

Apprenticeship Levy will affect employers from April 2017

The Apprenticeship Levy will introduce a new cost for employers from April 2017. It is a charge based on the total employee earnings subject to Class 1 Secondary National Insurance Contributions (NIC’s). Why is it being introduced? It is a change in the way that apprenticeship schemes are funded. The money raised will go into […]

C+T Partnership aims to boost business angel investment

Accountancy firm Chiene + Tait has announced a partnership with Scotland’s business angel association, LINC Scotland, aimed at supporting its members and enhancing the level of investment into Scottish SMEs with strong growth potential. Chiene + Tait will service a dedicated Business Angel Helpline, providing advice to Scottish angel syndicates on how they can best […]

Museums and galleries tax relief: consultation and update

Timing The consultation first mentioned in the 2016 Budget has now concluded. Draft legislation will be published in Autumn 2016. The tax relief will be available from 1 April 2017. Relief rates The rates have not yet been published; we expect them to be similar to theatre tax relief rates (20% tax credit for non-touring, […]

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 […]

Our Guide to Brexit

We have produced a variety of Brexit briefing notes to help our clients understand the fundamental changes the country will go through and what they will mean for them. Our first briefing note, issued by our Chairman, discusses the possible routes the UK could take moving forward and what businesses can be doing at this […]

Brexit Briefing Note

Over the coming months, we will issue on our website regular briefing notes to help our clients understand the fundamental changes the country will go through and what they will mean for them. The Political Hokey Cokey Businesses like stability and a degree of certainty, and a secure economic and fiscal regime. It allows them […]

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 […]

Tapering of Annual Allowance

From 6 April 2016, individuals who have taxable income greater than £150,000 will have their annual allowance for that year restricted. The standard £40,000 allowance level will reduce by £1 for every £2 of income over £150,000. The maximum reduction will be £30,000, so an individual with taxable income of £210,000 or more will have […]

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 […]

OSCR and Targeted Regulation: important changes to charity reporting

Updated October 2016. The Office of the Scottish Charity Regulator (OSCR) has new reporting requirements for charities, which came into effect from 1 April 2016. These requirements apply to all charities, so it’s important that you understand the changes: please contact us if you need any guidance or have any questions. A new focus on […]

OSCR Announces New Charity “Notifiable Events” Requirement

To prevent problems from happening, reoccurring or affecting public confidence in the charity sector, from 1st April 2016 the Office of the Scottish Charity Regulator (OSCR) will ask charities who have, or have had, a serious problem to notify them. OSCR has brought in this new guidance in order to “encourage charities to deal with […]

Watch out for higher tax rates for capital distributions from MVLs

From 6 April 2016 the Government is proposing making major changes to the way in which capital distributions from members’ voluntary liquidations (MVL) will be taxed. This could result in significantly increasing the tax payable by shareholders of companies entering into MVLs. To read more, download our Comment On factsheet (pdf) outlining the changes. If you […]

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 […]

Child Benefit: Is Yours Safe?

I have to admit that my heart sinks every time I have to look at the rules for entitlement to tax credits such as child tax credit or working tax credit. Why? The answer is that these are really social security benefits and having “tax” in the title is a bit of a red herring. […]