Cloud Accounting - Why Should I Care?

After nearly five years of partnering with Xero AAB are thrilled to have attained Platinum Partner Status with the market-leading cloud accounting app. This coincides with the extension of the cloud offering into the expanding Edinburgh office – our Aberdeen clients have long benefited from AAB’s expertise in this field but with the appointment of Hilary Dyson as cloud accounting manager in Edinburgh, and the relocation of outsourcing specialist Mairi MacIver from Aberdeen, the offering is now firmly established in the Central Belt.

AAB become Xero Platinum Partners

At AAB our clients are at the centre of everything we do, and we know that our employees are at the heart of that offering. We are delighted to have gained Platinum Partner status with the market-leading cloud accounting software provider Xero; we know that through embracing the power of the cloud we can deliver an exceptional service to our clients and we have built up our team of cloud experts to enable us to do just that.

Offshore Funds and Excess Reporting Income – there is no hiding place from HMRC….

Offshore funds are now a common investment strategy recommended by most portfolio providers, but some of the taxable income connected to these funds can be hidden from view, which could mean individuals have missed income receipts that should have been disclosed to HMRC.

The help on hand from your accountant

What exactly is your accountant there for? Providing a sounding board for your business plans? Offering you peace of mind? I think it’s both those things and a number of others besides. Here are just some of the reasons you need that trusted professional adviser on call:

Requirement to Correct – Are you sitting comfortably?

The deadline for individuals, Trusts and Estates to submit a full disclosure to HM Revenue & Customs (“HMRC”) under the Requirement to Correct (RTC) legislation is almost upon us. With the 30 September 2018 now less than one week away, HMRC have published a timely information leaflet, simply titled “Do you have any offshore income or assets?”.

Are we nearly there yet?

We all know what happened, we also know how difficult the last three years have been not only in local Oil & Gas communities but also globally it’s been a very tough few years. Much publicised job losses have forced some to forge new careers in completely new sectors. Significant divestments from the North Sea but recently a surge in M&A activity with not only new independent entrants into the NSCS but majors still doing deals.

Scottish Income Tax Rates – Additional Burden on Self-Employed Dentists

The 2018/19 tax year will herald the introduction of the much-maligned Scottish rates of Income Tax and all the added complications that these bring. This is particularly relevant to Scottish resident, self-employed Dentists who will now be charged to tax at very different rates compared to the rest of the UK.

Cost effective PMI

Private medical insurance (PMI) is a popular benefit which is strongly valued by employees, but it can be seen as an expensive benefit to offer for employers.

Feeling Charitable?

Have you considered setting up a Payroll Giving scheme?

Getting International Growth Right

The global economic landscape is constantly changing. A rapid growth of global export of goods and services and foreign direct investment has changed how and where we do business and technology has played a critical role in getting us there.

Overdrawn directors’ loan balances – Part 1

Something that crops up in a significant number of the cases that cross my desk is the issue of an overdrawn director’s loan account, and the implications that has for both the company and the director.

Last Call for Overseas Tax Disclosures!

The deadline for individuals, Trusts and Estates to submit a full disclosure to HM Revenue & Customs (“HMRC”) if they need to correct their underpaid UK tax position in respect of any offshore interests is fast approaching. With less than 1 month to go until the deadline of the 30 September 2018, it could not be more apt to issue a reminder regarding the Requirement to Correct legislation.

UK Property Tax Changes for Non-Residents – HMRC Provide Some Simplification

From April 2019 new tax rules will apply to the disposal of all UK land and property by all non-UK resident individuals, companies, personal representatives and trusts. The summary of the current and proposed new rules is set out below:

Overseas Workday Relief (OWR) & Tax Equalisation

We have been approached by many clients who operate tax equalisation programmes for their globally mobile employees, who have incurred additional tax burdens unnecessarily for foreign domiciles working in the UK.

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