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  AUTUMN 2016

In this Issue

Client Profile - FMS Fire and Security
Making Tax Digital (MTD)
Payroll Update
Cycle to Work

Office Gossip

Lunch With An Old Bag
The Lunching Ladies raise an incredible £759,000!
Wedding Bells For Findlay
Match report from Kinnaird House in Larbert.
The Great Escape
The Springfords Six plot their way out of incarceration.
Poorhouse People
Two women who lived in our building a hundred years ago.

Useful Links

Springfords Website
Springfords Brochure
Companies House
HM Revenue & Customs
Scotsman Newspaper

Contact Us

Dundas House, Westfield Park, Eskbank, Edinburgh, EH22 3FB
T: 0131 440 5000
Alba Innovation Centre, Alba Campus, Livingston, EH54 7GA
T: 01506 242002
Falkirk Business Hub, 45 Vicar Street, Falkirk, FK1 1LL
T: 01324 227606
F: 0131 440 5001
Praxity ICFIB

Client Profile - FMS Fire and Security

Established in 1990, FMS Fire and Security Ltd has grown to become one of the leading independent fire and security companies in Scotland.

With an experienced management team and over 40 engineers, they work with some of the biggest 'blue chip' organisations in Scotland.

The company's success is built on being able to provide expert advice to suit customer's individual needs and a wide range of fire and security products.

More on FMS Fire and Security >>

Making Tax Digital (MTD)

HMRC’s MTD initiative proposes the biggest changes to the UK tax system since the introduction of self-assessment.

With only a few exceptions, all businesses and landlords will be compelled to submit quarterly accounting data online.

The intention is that this will result in a tax system that is more up-to-date than ever before and the death of the annual tax return by 2020. 

HMRC believe that this real-time view will lead to better tax budgeting and reduction of errors but there is concern that these changes are being rushed through too quickly, will further increase compliance costs particularly for smaller businesses and may not achieve the intended result.

Read our article to find out more about how the system will operate.

More on MTD >>

Payroll Update

As always, the payroll landscape is a moving target and there are several current changes and issues that employers and employees should be aware of.

  • Minimum Wage and Living Wage - increases and date changes.
  • Late Payroll Submission - increased penalties.
  • Payrolling of Benefits in Kind - reducing P11D's and repeatedly changing tax codes.
  • Pension Auto Enrolment - are you ready?

Get in touch with our specialists if you need more details.

More on Payroll Updates >>

Cycle to Work

Get fit, and at the same time save tax? You really can - with the Cycle to Work scheme. Here's how it works:

  • Employer purchases bike.
  • Employee hires bike back.
  • Hire payments are deducted from employee's gross pay (before tax & NI).
  • Employee buys bike at the end of hire period.

The employee can save over 40% tax on the cost of the bike, and the employer saves on National Insurance payments. Everyone's a winner!

More about the scheme >>

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