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Tax Advice

What is Transfer Of Going Concern (“TOGC”) and how it can save VAT on purchase of a property

Securing a transfer of going concern (TOGC) when purchasing a property is a good way to save money by purchasing it as a business asset. Any transaction that qualifies for TOGC avoids paying the value-added tax on that property, provided they fall within the rules of the TOGC. In this article, we’re going to find out what a transfer of going concern, also known as TOGC, is and how it can save VAT on the purchase of a property.

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29 September 2022
Tax Advice

Commonly missed expenses that could help to save tax

Missing expenses from your self-assessment or company accounts can result in paying higher taxes. Legitimate expenses reduce tax liability, and for this reason, ensuring that all appropriate expenses and allowances are included in your tax submissions is an important task.

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10 August 2022
Tax Advice

Should I buy a car through my business?

Purchasing a car via your limited company might seem like an ideal way to save on tax. However, it can be more tax-efficient to purchase the car privately and then claim for mileage. In this blog, we’ll explore why this is so, and how to make a claim.

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3 August 2022
Others

4 reasons you know your current accountant is not right for you

Anyone running their own business around Aberdeenshire knows how important keeping on top of their accounts is. From annual tax returns to quarterly VAT returns, monthly payroll and more, this is an area you cannot afford to ignore. The best option for most business owners is to hire an accountant because they have the time and expertise to look after it all for you. Not all accountancy firms are created equal though and this sees some providing a poor service to clients

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30 June 2022