Sutherland Black Accountants Scotland

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Latest news releases and FAQs

News and useful information on tax and business issues.
MTD
News

Abolition of basis periods and new tax year end?

Abolition of Basis Periods Along with the impending introduction of Making Tax Digital (MTD) for unincorporated businesses and landlords the government made a significant announcement on 20 July that they would abolish basis periods for unincorporated businesses for the 2023/24 tax year to simplify MTD reporting. That change would apply to sole traders, partnerships, as

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Sole Trader vs Limited Company
Limited Companies

Sole trader vs. limited company – which one is best for you?

Is it better to trade as a sole trader or a limited company? Many startups start as a sole trader and later incorporate (move the sole trader business into a newly formed limited company). Many articles on the internet discuss the advantages and disadvantages of trading as a sole trader vs. a limited company. Most

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limited company dividends guide
News

Expert Guide to Limited Company Dividends

Many small businesses in the UK are set up as Limited Companies. There are many benefits to this approach and some legal and accounting concepts that owners need to understand. A Limited Company is a separate legal entity to the owners. As such, the money in the company’s bank account does not directly belong to

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Limited Company Electric Cars
Limited Companies

Expert Guide To Limited Company Electric Cars

How can I save money putting a car through my limited company? The extra national insurance and personal tax created through the benefit in kind may outweigh any corporation tax and VAT savings you are going to make by putting a car through a limited company. Over the years, the exact answer to this question

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Covid19

Scotland Level Zero – Home Working

Scotland Level Zero With the move to Level Zero this week Scottish businesses are still being advised to work from home where possible. Originally Level 0 contained a phased return to offices but the First Minister announced that this would be postponed due to the high levels of the virus in circulation. This is clearly

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freeagent vs xero which is best accounting software
Xero

FreeAgent vs Xero – Which Accounting Software Is Best?

FreeAgent vs Xero As Chartered Accountants, we regularly get asked about which cloud-based accounting system is the best for their business or situation. We have over ten years of experience in all the major online accounting software packages. We have formed some pretty clear opinions on the subject. We have settled on recommending Xero to

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