News

A food firm has emerged victorious in a legal battle against HMRC, securing an exemption from VAT on its Mega Marshmallows. The court ruling, upholding a decision by the first-tier tribunal, stated that the marshmallows are not to be considered confectionery.

Thousands more taxpayers moved to Scotland than left each year in the period after Scottish Income Tax was brought in, new HMRC research has found. The study, looking at movement within the UK over 12 years, found a steady increase in net migration of taxpayers in the five years from when the tax wa

Global real estate firm Avison Young today announced that Richard Cottingham has joined the Scottish land & development team, assuming the role of director. A qualified chartered surveyor, Mr Cottingham brings over 16 years of experience within the Scottish real estate market, specialising in re

JRW Hogg & Thorburn, which was recently formed through the merger of Borders accountancy firms Hogg & Thorburn and JRW, has appointed Christiaan Hansen as its newest partner. Mr Hansen, who is based at the firm’s Hawick office, is a tax specialist with particular interest in inheritanc

A Big Four accounting firm has announced plans to expand its hiring of ex-offenders following a successful two-year trial period.

Bank of Scotland-owner Lloyds Banking Group has reported a pre-tax profit of £1.6 billion for the first quarter of 2024, marking a 28% decrease from the same period last year when it reported £2.3bn in profits. This decline follows the banking giant's record-breaking annual pre-tax profi

Alison Marshall, a solicitor based in Dunfermline and a partner at Wright, Johnson & Mackenzie (WJM), has attained the Chartered Tax Advisor (CTA) qualification from the Chartered Institute of Taxation. The qualification is the equivalent to that of a Masters degree and elements of it have a not

Scottish corporate insolvencies have decreased from 346 in Q4 2022-23 to 301 in Q4 2023-24, according to the latest insolvency data statistics from Accountant in Bankruptcy (AiB). This is a decrease of 13.0%. Over the same period, there were MVLs (members voluntary liquidations) were down to 94

Business confidence in Scotland has risen significantly to its highest level since Q4 2021, as exports growth accelerated and cost pressures eased, a survey of business leaders has found. Sentiment tracked by ICAEW’s Business Confidence Monitor for Q1 2024 put confidence at 15.4 on the in

Dundee-based accountancy firm Ashton McGill, which is founded by father and son Alasdair and Andrew McGill, has announced a 41% increase in annual turnover for 2023. The business attributes this success to an increased portfolio of clients across Scotland, which has propelled it towards achieving a

Royal Bank of Scotland colleagues have launched a new tree nursery at the Gogarburn headquarters in Edinburgh, in partnership with The Conservation Volunteers, whose mission is to connect people to nature and to nurture green spaces for local communities. This tree nursery is part of the ‘NatW

Insurance services provider Willis Towers Watson (WTW) has announced a raft of promotions and expansions across its Scottish offices. Paul Bernand has been elevated to the position of senior director. He will spearhead the corporate advisory team in Scotland.

Edinburgh-based ethical financial institution Capital Credit Union (CCU) has announced that its loan book has exceeded £25 million for the first time in its 35-year history. The union has posted its half year results and revealed its loan book is up 25% on the same period last year, to stand a

The first quarter of 2024 has seen nearly £100 million invested in Scottish businesses, according to KPMG UK. Showing that a total of 19 firms shared £98m in venture capital (VC) investment, the Big Four firm's Private Enterprise Venture Pulse report highlights a notable increase in vent

The Sheriff Appeal Court has refused an appeal by a man who was due payments from a bank for mis-sold payment protection insurance following a 2019 decision that it could not set-off the payments against a discharged protected trust deed debt, upholding a sheriff’s decision that his claim had