Feb 242017
 

With thanks to Banffshire & Buchan Coast SNP.

Tory councillors in the North-east of Scotland have rejected plans to offer businesses rates relief for the second time in under a week – after the Tory-led Moray administration recently threw out an SNP amendment encouraging the Moray Council to follow Aberdeenshire’s lead in offering local business rates relief.

SNP councillors in Aberdeenshire last week passed a budget allocating £3 million for a local business rates relief scheme, to help those that have seen larger rates revaluations and are feeling the effects of the downturn in the north east economy.

SNP councillors in Moray had tabled an amendment to the Tory-led budget in Moray suggesting a similar scheme, but this was rejected by Tory councillors, including part-time-MSP-come-referee-come-councillor Douglas Ross.

On the same day as Ruth Davidson has reportedly stated that businesses are “staring down the barrel of a gun” due to changes to business rates, the actions of Tory councillors clearly demonstrated they are more interested in opportunistic soundbites rather than providing firms with meaningful support when they have the powers to do so.

Commenting, SNP MSP for Banffshire & Buchan Coast, Stewart Stevenson, said:

“This is quite astonishing from the Tory-led administration in Moray. They have not stopped criticising the Scottish Government for the changes to business rates, yet they refuse to use the powers that they have at a local level to provide firms with meaningful support.

“It is clear that Ruth Davidson’s Tories are only interested in scoring political points rather than actually providing any support to the businesses they have claimed to support in recent weeks.

“Voters across Moray and Aberdeenshire aren’t daft, and they’ll have seen Douglas Ross and others leading the chorus against changes to businesses rates, before he voted today to prevent businesses from receiving substantial support. Their opposition has been proven to be nothing more than crocodile tears.

“The Tories ought to be ashamed of themselves – and their actions won’t be forgotten by voters in Aberdeenshire, Moray and beyond when they go to the polls in May.”

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Feb 242017
 

With thanks to Martin Ford.

Aberdeenshire Council should not hand public money to billionaire Donald Trump to reduce his tax bill.

That is the view of Aberdeenshire Green candidate Richard Openshaw (pictured), who is standing in the West Garioch ward at the Council election on 4 May.

Mr Openshaw is concerned because, following rates revaluation, Aberdeenshire Council has set aside up to £3 million for a business rates transitional relief scheme, and the ‘hospitality sector’ has been identified as particularly in need of assistance.

Although he no longer administers it, President Trump, self-proclaimed billionaire, has retained ownership of Trump International Golf Links and the associated hotel at Menie, a business that could potentially receive some of this relief .

“I strongly support the proposal for a business rates transitional relief scheme for Aberdeenshire,” said Mr Openshaw.

“There is certainly a need for a scheme of this kind. But the Council must target its help towards those genuinely in need, the cases where the revaluation is resulting in hardship.

“It would surely be completely inappropriate for Aberdeenshire Council to distribute public money to Mr Trump, who certainly doesn’t need or deserve it,” said Mr Openshaw.

No details of Aberdeenshire’s rates relief scheme are yet available so it is not known what criteria will be used to decide the distribution of funds, nor which Aberdeenshire businesses might benefit. Council officers are working up proposals to put before the full council meeting on 9 March.

“Whatever scheme Aberdeenshire comes up with, the Council should not be helping out Mr Trump with his tax bill,” Mr Openshaw said.

“I do not believe public money should be used to subsidise a billionaire, especially given that paying business rates is one of the very few economic benefits the UK has ever got from Mr Trump.”

Mr Trump’s dislike of paying taxes is well known. During a presidential campaign debate with his Democrat opponent Hillary Clinton in September 2016, he claimed that not paying federal taxes “makes me smart”. Indeed, Mr Trump does not pay corporation tax on his businesses in Scotland.

“Very few people would see Mr Trump as a deserving recipient of public money from Aberdeenshire Council,” said Aberdeenshire Green councillor Martin Ford.

The Sunday Herald newspaper reported its view that Mr Trump is unlikely to benefit from the rates relief scheme which it says Aberdeenshire Council is designing to target assistance to small businesses.

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Feb 022017
 

Banffshire & Buchan Coast MSP Stewart Stevenson

With thanks to Banffshire & Buchan Coast SNP.

Fish processors in the North East of Scotland would be disproportionately hammered by reckless Tory plans to slap a £1,000 levy on EU workers in the UK following a hard Brexit.

The seafood processing sector employs thousands of EU citizens,
with the workforce largely
concentrated at individual sites in the North East. 

Immigration Minister Robert Goodwill suggested that firms could be charged £1,000 each year for every EU worker they employ.

The anti-business plans have been labelled xenophobic by former Belgian Prime Minister Guy Verhofstadt who is one of the EU’s chief Brexit negotiators and even criticised by senior Tory Anna Soubry who blasted the proposals as a “tax on successful businesses”. 

Figures reveal that individual businesses could be stung particularly hard by the proposed tax. Buchan’s Macduff Shellfish, for example, has a workforce of around 500 people – with 79 per cent of them non-UK EU citizens. That would mean a £395,000 annual levy imposed by the Tory government on this single business.

Around 3,000 EU citizens work in the seafood processing sector alone – with thousands more in the wider food and drink industry. The misguided Tory attack on foreign workers would mean a multimillion pound bill imposed on businesses in the North East. 

Commenting, Banffshire & Buchan Coast MSP Stewart Stevenson (pictured) said:

“The Tories are moving further and further to the right at an alarming rate.

“Their plans to tax firms an excess based on the number of European workers they have on the books are discriminatory, deeply disturbing and potentially crippling in terms of business. 

“But sadly that comes with the territory of a hard Brexit, characterised by xenophobia and Tory politicians finally peeling back the mask to reveal a dangerous and divisive agenda. 

“In my constituency alone, firms could face charges up to half a million pounds just for having the ‘audacity’ to hire workers with the right set of skills who have chosen to make Scotland their home. Many firms would face the very real consequence of cutting jobs or even facing closure. 

“It’s incumbent upon Ruth Davidson to distance herself from these comments and to make the case to her bosses at Westminster that Scotland shouldn’t suffer as a result of a Tory hard Brexit led by the loony right-wingers in her own party. 

“Before and after the referendum last year she championed Scotland remaining in the single market. It’s time she proved she’s a politician of her word.” 

Further Info:

European and External Relations Committee – The EU referendum and its implications for Scotland – Written submission from Macduff Shellfish http://www.parliament.scot/S5_European/General%20Documents/CTEER_Macduff_Shellfish.pdf

–    “As well as being an important employer in and around Mintlaw (employing in excess of 350 people in the area, and a further 150 people across our other sites and fishing fleet)”
–    “Moreover, 79% of our employees originate from other European Member States. The European labour market is a vital resource to Macduff and our continued success will be dependent upon the future flow of European workers.”

BBC News – Minister hints at £1,000 fee for EU workers: http://www.bbc.co.uk/news/uk-politics-38581873

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Feb 022017
 

With thanks to Eoin Smith, Senior Account Executive, Tricker PR.

Hall Morrice employee Andrew Laurie, who received the Ronald Ison Medal for the candidate with the highest mark in the Taxation of Individuals paper

An Aberdeen-based accountant has emerged as the top-scoring student in a national Chartered Institute of Taxation exam.
Andrew Laurie from independent firm Hall Morrice LLP was awarded the Ronald Ison Medal for the candidate with the highest mark in the Taxation of Individuals paper – an exam that he hopes will eventually help him achieve Chartered Taxation Advisor (CTA) status.

Andrew (30) was one of over 200 candidates from around the UK to pass the exam, and did so with distinction.

He has previously passed all his CTA exams at the first attempt, and will sit his final test in May.

He joined Hall Morrice as a graduate trainee in the audit and accounts team and qualified as a Chartered Accountant (CA) with the support of the firm. Director of tax Stuart Watson saw that he had a natural aptitude for the subject, and Andrew joined the tax department over three years ago.

Andrew, who is employed as a senior tax analyst with Hall Morrice, says,

“With Stuart’s encouragement, I decided to study for my CTA qualification and was delighted when the firm provided a study package to help me achieve this.

“I had hoped that I had performed well in the exam, but to learn that I had passed with the highest mark on the paper came as a real surprise. I’m very pleased as it was the result of a lot of studying, but more than that shows the effort that Hall Morrice has made in training me and mentoring me over the years.”

Students studying towards the CA qualification sit a paper which covers taxation, but at a relatively basic level compared to the knowledge required for the CTA exams. CTA is seen as the gold standard for advisors and is absolutely essential for anyone wishing to specialise at a high level in taxation.

Hall Morrice, which employs around 50 members of staff, has a long and successful track record as a training firm, and consistently develops graduates to very high levels. It has invested heavily in bespoke training programmes aimed at improving the learning process for its graduates, and the approach has seen exam pass rates soar.

Last year, the firm was shortlisted in two categories in Scotland’s Employer of the Year Awards in recognition of its efforts to develop staff and invest in young people. Hall Morrice accepts new graduates every year, and is also committed to offering placements to accountancy students.

Stuart, who has worked in taxation for over 40 years says,

“We are immensely proud of Andrew’s achievement. To perform better than any other CTA student in the country underlines not only how hard he has worked on his studies, but also the opportunities that he has had to put his learning into practice in his day to day role here at Hall Morrice.

“As the tax department is relatively small, our team has to be able to advise on a wide range of tax issues and not specialise in any one particular area. Andrew covers the whole scope of our service provision, from personal taxation and tax returns to share valuations and tax planning.

“It has always been the firm’s aim to recruit the best and in terms of technical ability, Andrew’s success in this paper has shown that he has a very bright future ahead of him.”

Founded in 1976, Hall Morrice is one of Scotland’s leading independent firms of chartered accountants and has offices in Aberdeen and Fraserburgh. Based at 6 and 7 Queens Terrace in Aberdeen, Hall Morrice can be contacted on 01224 647394 or at accounts@hallmorrice.co.uk

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Dec 232016
 

With thanks to Martin Ford.

Aberdeenshire’s Democratic Independent and Green Group (DIGG) councillors – Paul Johnston and Martin Ford – have made clear their belief that Aberdeenshire Council needs to do all it can to protect vital public services.
That includes raising additional income by putting up the Council Tax next year by three per cent.

The decision on Aberdeenshire Council’s 2017/18 revenue budget will be made against a background of rising demand for key Council services, in particular adult social care and an increasing school pupil population – with the inevitable attendant budget pressures.

The Council Tax rate has not increased since 2007, a freeze now lasting nine years.

A very preliminary analysis of the Scottish Government’s budget statement last Thursday (15 December) suggests the cut in Government funding to Aberdeenshire Council next year is in line with expectations or possibly slightly more than anticipated. A full analysis of the overall effect on Aberdeenshire Council of the various measures announced by the Scottish Government will be available early in January.

Cllr Martin Ford said:

“In the context of a cut in Aberdeenshire Council’s grant funding from the Scottish Government, rising demand for Council services and a nine-year freeze in the Council Tax, a Council Tax increase is necessary next year.”

The DIGG draft budget proposals for Aberdeenshire Council (published in November) included a three per cent rise in the Council Tax as one measure to help close the forecast funding gap in 2017/18.

Cllr Paul Johnston said:

“Given inflation, the freeze in the Council Tax was a real-terms tax cut. And it’s lasted now for nine years. Clearly services have to be paid for, so the freeze can’t just go on.

“For the DIGG, protecting essential services is the priority. For every one per cent increase in the Council Tax, the Council can avoid cutting a million pounds from its spending on services.”

For the benchmark Band D property, the current Council Tax in Aberdeenshire is £1,141.00. So a one per cent increase is an additional £11.41 on the annual Council Tax bill (or just under 22p per week, just over 3p per day).

A three per cent rise next year is just 66p extra per week for a Band D property.

Even if that increase is made, spread over the ten years 2008 to 2017, the Council Tax will have risen by only £3.42 per year in that decade.

“After many years of cuts, the priority has to be protecting the services people need,” said Cllr Martin Ford.

“The Council must do everything in its power to maintain the range of essential services it provides for residents.”

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Aug 112016
 

With thanks to Eoin Smith, Senior Account Executive, Tricker PR.

hm-new-recruits-2016

Michael Smith, Catherine Freeman, Aaron Williams, Toni Parker, Ashleigh Welsh, Irene Walker, Maria Marcas and Calum Mathers have all recently joined Hall Morrice.

An Aberdeen-based accountancy firm has announced the appointment of eight new members of staff. Following the creation of a new business development role earlier this year, Hall Morrice has further strengthened its team across its various departments in order to continue to provide exemplary service to clients operating in a wide range of industry sectors notwithstanding the current challenging economic backdrop affecting many.

Aaron Williams has joined Hall Morrice from KPMG UK, and will take up the role of audit and accounts manager, working with clients in a variety of sectors including oil and gas, ICT, retail, and property.

Aaron says,

“Hall Morrice has an excellent reputation in the north east of Scotland, so I welcomed the opportunity to join the team. Working across such a varied portfolio is a challenge, but one that I am looking forward to embracing. I look forward to working with the Hall Morrice team to continue providing the high level of service that our clients expect.”

The firm’s payroll team has been expanded in recent months, with the addition of Irene Walker and Maria Marcus. Additionally, CA students Ashleigh Welsh, Catherine Freeman and Michael Smith took on new roles within the firm last month, and were joined by RGU placement students Calum Mathers and Toni Parker.

The recruitment news sees the firm strengthening its operations at all levels, and follows an impressive year for Hall Morrice which saw a large intake of students taking on roles in 2015 and the appointment of Mike Innes to the newly-created role of business development director this spring.

Shonagh Fraser, partner at Hall Morrice, says,

“Undoubtedly times are tough for many businesses in Aberdeen, however we believe in a focus on the future. The economic climate will ease over time, and we want to be in the strongest position we can when it does.

“We firmly believe in developing and nurturing new talent, and we have been delighted to see so many students coming into the firm over the last month. By investing in young people, we are cementing the future of our industry for years to come.

“Aaron is an important addition to the managerial team, and we are confident that his leadership will help guide our new recruits and current staff over the years to come.”

Founded in 1976, Hall Morrice celebrates its 40th anniversary this year and is one of Scotland’s leading independent firms of chartered accountants with has offices in Aberdeen and Fraserburgh. Based at 6 and 7 Queens Terrace in Aberdeen, Hall Morrice can be contacted on 01224 647394 or at accounts@hallmorrice.co.uk

Jul 212016
 

Aberdeen accountancy firm Hall Morrice leads companies through the maze of claiming time-limited relief. With thanks to Eoin Smith, Senior Account Executive, Tricker PR.

Andrew Bell

Andrew Bell, corporate tax manager at independent accountants Hall Morrice LLP.

Britain’s economy has reached a major milestone with the country’s private sector business population exceeding five million for the first time ever.

But corporations are not driving forward the economy: the boom is being credited to the number of enterprising sole trader and partnership businesses deciding to branch out on their own.

According to the Business Population Statistics report, some 330,000 new ventures had been launched in a 12 month period leading up to the start of 2014.

Of these businesses, 197,000 were operating as unincorporated traders.

The report, produced by the Department for Business Innovation and Skills, states that the combined annual turnover of small businesses was £1.2 trillion – around 33% of turnover within the private sector.

“The numbers are phenomenal and underlines that SMEs – particularly those at the S end of the scale – are the backbone of the economy,” says Andrew Bell, corporate tax manager of independent Aberdeen based accountancy firm Hall Morrice LLP.

“The figures would appear to suggest that small businesses are recognising that an unincorporated sole trader or partnership structure is best suited to their needs. Some businesses have been a little quick off the mark to set up as a limited company when that structure is not at all suited to how they will be operating.

“For many businesses, a limited company structure is the most tax efficient way to operate the business. However, with additional legal and compliance burdens placed on the shareholders, the time incurred in meeting those obligations often means that the efficiencies are negligible or even non-existent.

“Shareholders have often felt they have no option but to carry on operating as they are because disincorporation has always been a complex and ultimately very expensive process.

“HMRC recognised this and in 2013 introduced disincorporation relief for small businesses. Essentially, it is a simplification of the rules allowing limited companies to look at their options and, if appropriate, return to or change to unincorporated status in a tax efficient manner.

“For many small firms the responsibilities that come with being a director of a limited company overwhelming and unwelcome. All too often I come across clients that are struggling to keep on top of the administrative aspects of trading through a limited company. There are many obligations to Companies House, legal responsibilities and the financial rules and regulations can be a minefield without appropriate guidance.”

The disincorporation relief applies up to 31 March, 2018 and allows a company to transfer all of its assets, or all of its assets other than cash to shareholders who wish to continue the business in an unincorporated structure, without a charge to corporation tax arising on the transfer.

There are some criteria that must be met. For example, the total qualifying assets, including goodwill, must not be worth more than £100,000; the business must be transferred as a going concern; and the shareholders must have held shares in the company for at least 12 months before the transfer date.

Disincorporation frees up time and costs devoted to compliance of company accounts, corporation tax returns, and annual returns and allows many small businesses to make efficiencies in their budget for accountancy fees.

According to HRMC, over 600,000 businesses across the UK could be eligible to make a claim for disincorporation relief. Hall Morrice has helped many limited companies, where it has been found both desirable by and beneficial to the shareholders, return to an unincorporated status, and is in the process of recommending disincorporation to many more.

With the disincorporation relief scheme due to end in March 2018, Andrew urges companies that may fit better within an unincorporated structure not to delay looking at their options.

Andrew explains,

“There are some qualifying criteria as with any such tax relief schemes, but it has been set up in a way that makes the process as smooth as possible. The scheme will run for five years, and is due to be wound up in 2018 so it is a time-limited opportunity.

“Although 2018 may seem a long way off, I would recommend that business owners start considering their options now. I’ve worked with several businesses that have been through this process and it is not something that will happen overnight.

“On the face of it, there would be no better time to opt for disincorporation when there is the incentive of relief, but it is not for everyone. There are many advantages to remaining incorporated, including flexibility over profit extraction.

“There are lots of considerations to be made, and our team will work with shareholders to weigh up the pros and cons of moving to unincorporated status. It is vitally important to make the right decision as once a claim has been made, it is irrevocable.

“If shareholders do decide that they would like to opt for disincorporation, we will prepare the claim and guide them through the whole process to make sure that all obligations to HMRC and Companies House are met.”

Founded in 1976, Hall Morrice is one of Scotland’s leading independent firms of chartered accountants and has offices in Aberdeen and Fraserburgh. Based at 6 & 7 Queens Terrace in Aberdeen, Hall Morrice can be contacted on 01224 647394 or at accounts@hallmorrice.co.uk

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May 192016
 

With thanks to Kenneth Hutchison, Parliamentary Assistant to Dr. Eilidh Whiteford

Eilidh Whiteford, Parliament [2015]feat

Banff & Buchan MP Dr Eilidh Whiteford has welcomed the release of the SNP’s Alternative Queen’s Speech at Westminster, saying it offers “a real alternative to Tory austerity.”

The Queen’s Speech today will highlight the Conservative Government’s legislative agenda for the coming year, and will likely include increases to tuition fees at English universities, and a weakening of the prerogatives of the Lords – where the Government has suffered a string of recent setbacks.

Speaking in advance of the Speech, Dr. Whiteford said:

“We now have a situation where the UK Government has failed to meet its own targets on key economic indicators. Debt, deficit, borrowing, productivity, innovation, trade, exports – you name the target, the Tories have missed it. Austerity has choked off economic growth – and the UK’s trade deficit is now at its worst position since 2008.

“The upshot of austerity is that, inevitably, it’s the poorest in society who pay the most. We’re calling for a modest – 0.5% – increase in public spending, which would help mitigate the worst impacts of austerity, and boost economic growth.

“The only way to tackle the deficit is to grow the economy, and it’s a lesson this Government has singularly failed to take on board. Choking off investment when it’s needed most is economic madness.

“With Labour mired in in-fighting, the SNP represents the only real alternative to a Tory Government. We want a fairer country, and that’s what we’ll keep fighting for at Westminster.”

Other proposals in the SNP’s Alternative Queen’s Speech include:

  • measures to boost exports
  • a Fair Tax Bill to crack down on tax evasion
  • a real Home Rule Bill, including devolution of social security, corporation tax, broadcasting and resource management
  • reform of Westminster, with replacement of the House of Lords by a democratically elected second chamber
  • an end to arms exports to Saudi Arabia.

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May 162016
 

Eilidh Whiteford, Parliament [2015]featWith thanks to Kenneth Hutchison, Parliamentary Assistant to Dr. Eilidh Whiteford

Women campaigning for fair pensions ‘deserve a fair hearing’, according to the SNP’s Pensions Spokesperson, Dr Eilidh Whiteford. The comments come following a meeting between MPs and campaigners representing Women Against State Pension Inequality.

WASPI represent thousands of women born in the 1950s, who have now been hit twice by increases to the retirement age.

To date, the UK Government has announced no compensatory schemes for those who will lose out as a result of the changes.

While the SNP believes that the state pension age should indeed be equalised, the party has criticised the manner in which the UK Government has implemented its changes, in the face of significant opposition from opposition parliamentarians and civil society.

Speaking after the meeting with WASPI campaigners at Westminster, Dr Whiteford said:

“It is profoundly unfair that these ladies have worked their whole lives, only to be told that their retirement age is being raised not once, but twice. They deserve a fair hearing from the UK Government.

“The UK Government has railroaded these changes through parliament without heeding the real impact this will have on women born in the 1950s. Stephen Crabb’s statement to parliament seems to indicate that there’s still no change whatsoever to the Government’s position.

“Constituents affected by these changes should be assured, however, that I and my fellow SNP MPs will continue to keep pressure on the Tories to look again at how these changes are implemented.”

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May 132016
 

With thanks to Kenneth Hutchison, Parliamentary Assistant to Dr. Eilidh Whiteford

Eilidh Whiteford Fraserburgh

Banff and Buchan MP Eilidh Whiteford

Banff and Buchan MP Eilidh Whiteford has called for cross-party consensus on reducing Air Passenger Duty, after figures released by Aberdeen Airport revealed the impact of the drop in oil and gas prices on flights to and from the city. The figures, released today, indicate that domestic and international traffic are down 17.9 and 5.8% respectively, with a 23.8% decrease in helicopter traffic.

Nonetheless, the Airport is pushing ahead with new routes to Warsaw, Newquay and Gran Canaria, as well as a £20 million redevelopment programme.

Speaking in response to the figures, Dr. Whiteford said:

“Aberdeen Airport is a hugely important piece of our national infrastructure, and the figures indicate the scale of the challenge we face in the north-east as the price of oil remains low.

“The Scottish Government has announced that it intends to cut Air Passenger Duty by 50% and, in light of these figures, that can’t come soon enough. Businesses in the north-east need our region to be as accessible as possible, and I would call on all parties in the Scottish Parliament to support this move.

“This is one step we can and should take to making Scotland a competitive destination for business and tourism.”

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