Monthly Archives: June 2017

Accountants & Farmers!

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Drummond Laurie Chartered AccountantsrhsThis year was the 177th Royal Highland Show, which showcased the best of farming, food and rural life over a four day period at Ingliston, Edinburgh.  It was another very successful year for the show with a record number of visitors reported and a few of these were our very own Drummond Laurie Agricultural Team!  A few of our clients had livestock entered and we are delighted to congratulate a number of them on their successful wins. 

We also really like the look of these guys!sheep (2)

The New Women in Agricultural taskforce was also announced at this year’s show by the First Minister, Nicola Sturgeon, following the publication of a research report into the role of women in farming and the agricultural sector. We were delighted that two of our team were able to be part of the unveiling.  rhs3

At Drummond Laurie we continue to work with farmers, providing specialist taxation, accountancy and business advice. Our  team have in depth knowledge and personal experience of the agricultural sector. 

If you would like to discuss any agricultural related accounting query please contact Margaret Bunyan on 01324 441266 or email margaret.bunyan@drummondlaurie.co.uk

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New & Old Faces this week!

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Drummond Laurie Chartered AccountantsThis week we are delighted to welcome Julie McVicar, one of our Senior Managers, back to work after her maternity leave, she may be sad at leaving Glen and Alex behind but we are very happy to have her back with us!  Julie will be in the office every Monday, Tuesday and Thursday.

Emma Craig joined us as a Summer Intern a couple of weeks ago, Emma is studying Accounting with Finance at the University of Glasgow, just going into fourth year after the summer!  She lives in Kincardine, enjoys going on long walks, loves to cook and is obsessed with Jamie Oliver as well as socialising at the weekend with friends and family. IMG_3857

Have you completed your P11d’s?

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Drummond Laurie Chartered AccountantsCalendar-July-6The deadline for 2016/17 P11ds is fast approaching, with forms P11d and P11d(b) to be submitted to HMRC by 6th July 2017 where expenses or benefits were provided to any company director or employee in the tax year 2016/17 (covering the period from 6th April 2016 to 5th April 2017) which were not covered by an exemption or otherwise exempt from tax.

 

There is a penalty of £100 per 50 employees for each month or part month a P11d(b) is late.

As mentioned in a previous blog, the typical benefits which are reported include;

  • Private medical insurance
  • Company cars and fuel
  • Use of company vans
  • Employee loans

Please contact our P11d co-ordinator Barry Evans for more information.  Barry can be contacted by phone on 01324 441288 or by email barry.evans@drummondlaurie.co.uk

 

A year on…

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Drummond Laurie Chartered AccountantsDSCF4736 (1280x959)This time last year, as you may remember, four of us from Drummond Laurie along with eight others were about to set-off to Morocco to complete the first overseas challenge for the Hospice, trekking to the peak of the High Atlas Mountains.  Our fundraising efforts beforehand, during and after,  meant that we were able to support the Hospice with well over £36,000.

18673301_1540854092621101_3609371391698032346_oThis year we continue to support Strathcarron Hospice, we had a team running in the first ever Stirling Marathon recently and they raised in excess of £2,500.  We are planning a team for the 10K on Sunday 15th October and one our colleagues and her son are going to do the Swamp Challenge.

To have Strathcarron Hospice in our community is priceless.  We are so happy that we are able to support them in lots of different ways and all the little things count!  We organise and rattle buckets at Falkirk Football Clubs annual Strathcarron Day.  We hold soup and cake days in our office and we’re currently collecting old pound coins for their New Quid on the Block Campaign.

Newquid

If you’d like to help support the hospice like us, find out more, get in touch with Claire MacDonald,  Business Development Fundraiser at the Hospice, email claire.macdonald19@nhs.net.

 

 

 

 

 

 

 

Changes to Fuel Scale Charges

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Drummond Laurie Chartered Accountantsfuel (2)For those who use business vehicles privately and reclaim the VAT back on all road fuel, it is important that the appropriate Fuel Scale Charge is applied. The Fuel Scale Charge ensures a standardised VAT add back and is based on the CO2 emissions of the vehicle. Applying a Fuel Scale Charge makes things simpler, as you don’t need to maintain detailed mileage logs. 

From the 1st May 2017 the Fuel Scale Charges changed and the new rates can be found here 

These new rates should be applied to VAT returns commencing on or after the 1st May 2017.thSXDKY6KL (2)

The fuel scale charge is entered on your monthly/quarterly/annual VAT return as follows:

  • Box 1 – VAT element
  • Box 6 – net element 

Depending on your mileage it may not be worth reclaiming the VAT back on fuel, as the Fuel Scale Charge may exceed the VAT you wish to reclaim.

Drummond Laurie can help with your VAT returns, as well as your other accounts and tax matters. For more information, please contact Margaret Bunyan on 01324 441266 or margaret.bunyan@drummondlaurie.co.uk

 

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