Wbg, one of Scotland’s leading independent specialist full-service accountancy firms, has warned that new rules introduced by Chancellor Rachel Reeves in her first budget under the new Labour government are likely to be particularly burdensome to charities. One of the headline points which will impact business across the country was the amendments to Employers National…
Wbg, one of Scotland’s leading independent specialist full-service accountancy firms, has warned that upcoming budget changes may deliver a harsh blow to employers, with implications that could shake the foundations of many industries. The Employer National Insurance Contributions (NIC) rate, currently at 13.8%, is set to rise to 15% in April 2025. Craig Allison, Associate…
Wbg, one of Scotland’s leading independent specialist full-service accountancy firms, has opened a new office in Prestwick to offer support to the local business community through the provision of expert business advice not readily available elsewhere in Ayrshire. The new office is located at 104 Main Street and is serviced by a dedicated senior team,…
For Trustees’ Week 2024, one of our charity specialists, Director Rory McCall, is building on theme of recruitment and retention by sharing knowledge with trustees. Introduction to charity accounting standards The accounting rules for charities, set out in the Charities SORP (Statement of Recommended Practice) derive from Financial Reporting Standard 102 (FRS102) which is published…
For Trustees’ Week 2024, one of our charity specialists, Director Rory McCall, is supporting the theme of recruitment and retention by sharing knowledge with trustees. Here Rory looks at going concern. As many charities continue to face financial challenges in the aftermath of the pandemic, as well as ever-increasing competition for the limited funding available…
Wbg, one of Scotland’s leading independent specialist full-service accountancy firms, has issued a warning to consumers that ‘buy now, pay later’ (BNPL) loans can serve as a stepping stone into debt if not used responsibly. Consumers who use BNPL loans are set to receive new safeguards against unaffordable borrowing and credit-card-style protection for their purchases…
For Trustees’ Week 2024, one of our charity specialists, Director Rory McCall, is adding to the theme of recruitment and retention by sharing knowledge with trustees. Here Rory looks at a comparison between audits and independent examinations. Legal requirement for external scrutiny of charity accounts in Scotland If a charity is registered in Scotland, then…
For Trustees’ Week 2024, one of our charity specialists, Director Rory McCall, is adding to the theme of recruitment and retention by sharing knowledge with trustees. First on Rory’s list is audit thresholds. Audit thresholds for charities Currently all Scottish charities with income in excess of £500,000 are subject to an audit of their annual…
Wbg, one of Scotland’s leading independent specialist full-service accountancy firms, has urged SMEs seeking equity finance to get themselves investment-ready. While research from the British Business Bank shows that equity deal activity involving smaller businesses in Scotland picked up during the first half of 2024, one of only two parts of the UK to experience…
Rachel Reeves delivered her first Budget as Chancellor of the Exchequer on 30 October 2024. She pledged to ‘invest, invest, invest’ to drive growth and ‘restore economic stability’. In our Summary, we provide an outline of the main areas covered in the Statement.
