Entries by Mani Kauren

Insider July 2019

HMRC error affects payments on account bills for some taxpayers Some taxpayers may not receive a bill for payments on account this month, and face paying a higher bill in January 2020. The Association of Taxation Technicians (ATT) is advising individuals affected by an error with HMRC’s systems to set aside money to pay the […]

Tapered Annual Allowance

How it affects high net-worth individuals. The tapered annual pension allowance for high net-worth individuals was in the headlines again recently. Concerns were raised that its impact on doctors within the NHS pension scheme is prompting high-earning NHS staff to leave their posts or reduce their hours. In December 2018, it was reported that the […]

Identifying Inefficiencies In A Business

Avoiding waste, maximising profit. Accountants, as a breed, are fans of efficiency. We tend to appreciate optimised systems and abhor waste, whether it’s time, effort or resources being frittered away. The concept of efficiency as we know it today is a product of the industrial revolution. That’s when engineers and manufacturers became obsessed with squeezing […]

Insider June 2019

Small business owners hit out at ‘unfair’ UK tax system Most small business owners in the UK do not think the tax system treats their business fairly, according to the British Chambers of Commerce (BCC). In a survey of 1,000 firms, 58% of SME owners said they think the UK tax system is unfair, with […]

Tax Implications of Working From Home

Advice for contractors and the self-employed. Working from home offers all kinds of benefits, from the opportunity to create the perfect environment in which you can be most productive, to the improvements to work-life balance that come with ditching the commute. There are advantages for businesses, too, assuming they trust their employees to work without […]

The Scourge of Late Payments

Outstanding invoices compromise your business’s cashflow. When you supply goods and services, you expect to be paid, and promptly, but Britain has a deeply embedded culture of late payments. Indeed, for some businesses, delaying payment is an essential part of the business model. Outstanding payments are problematic for various reasons. First, there’s the basic problem […]

Risk Assessment and Contingency Planning

How to minimise disruption in your business. It has been a challenging and eventful three years for UK businesses with a series of high-profile incidents highlighting how situations can change suddenly and often without warning. From the continued pressure of uncertainty relating to Brexit, terrorism, fire, extreme weather and cyber-attacks, how would your business cope […]

Insider April 2019

Government consults on new stamp duty surcharge The Government is considering introducing a new stamp duty surcharge, which is designed to clamp down on overseas wealth being used to buy homes in England. Ministers have expressed concerns that affluent foreign investors, particularly those buying properties in London, have been driving up house prices for domestic […]

Registering For Making Tax Digital For VAT

MTD zero-hour is here. The moment has come: if your business has a taxable turnover above the VAT-registration threshold, which is currently £85,000, you’re now obliged to keep records in digital form and to file your VAT returns using HMRC-approved software. You probably got a bit fed up of being reminded about the deadline for […]

Spring Statement 2019

INTRODUCTION Once again, Chancellor Philip Hammond has demonstrated his commitment to the principle of the Spring Statement as a low-key event, at least in terms of tax and public spending announcements. With none of the pomp and circumstance of the Autumn Budget, Hammond stuck in large part to summarising key points from the updated economic […]