Entries by Mani Kauren

Tax Card 2019/20

TAXABLE INCOME TAX BANDS AND RATES   2019/20 2018/19 Starting rate* of 0% on savings up to £5,000 £5,000 Basic-rate band £37,500 £34,500 Higher-rate band £37,501 to £150,000 £34,501 to £150,000 Additional-rate band Over £150,000 Over £150,000 Basic rate 20% 20% Higher rate 40% 40% Additional rate 45% 45% Dividend ordinary rate 7.5% 7.5% Dividend […]

Insider February 2019

Auto-enrolment fines rise 146% Fines issued to employers that fail to comply with their auto-enrolment responsibilities have more than doubled over the last two years, a report from the Pensions Regulator shows. In 2017/18, there were 36,137 fines issued to employers for not complying with the requirements of auto-enrolment – up from 14,707 such penalties […]

The Risks of a Tax Investigation

Will HMRC come knocking on your door? It’s a fact – humans are bad at assessing risk. We’re terrified of things that rarely happen (plane crashes, power station meltdowns) but relatively blasé about things that are statistically more likely to harm us, such as unwashed lettuce. The likelihood of HMRC swooping to investigate your business’s […]

Changes To Probate in 2019

Controversial fee increase set to take place from April. From April 2019, some estates in England and Wales could be required to pay almost £6,000 for a service that currently costs less than 4% of that amount. This is because of a proposed change to the fees families must pay to administer the estate of […]

Insider – January 2019

Businesses getting to grips with apprenticeship levy Businesses are finally beginning to understand the apprenticeship levy, after previously voicing serious concerns over its complexity and lack of flexibility. The apprenticeship levy took effect on 6 April 2017 and means businesses with an annual pay bill of more than £3 million must pay the levy towards […]

National Insurance Planning

Obligations and opportunities. National insurance contributions (NICs) are set aside to pay the state pension and other benefits, but due to the UK’s ageing population the National Insurance Fund is under increasing strain, with the state pension taking up more than 90% of its annual outlay in 2018. A review by the Government Actuary’s Department […]

Outsourcing Payroll

Does it make sense for your business? Around 1.4 million businesses in the UK employed members of staff in 2018, and all of them shared one thing in common: the legal requirement to run payroll. This task consumes a large amount of time each month, with multiple processes to complete in order to comply with […]

Insider December 2018

Annual investment allowance to rise to £1m The annual investment allowance is set to temporarily increase from £200,000 to £1 million, allowing businesses to gain more tax relief on their investments. This will take effect from 1 January 2019 and remain in place until 31 December 2020, after which it is due to revert back […]

Completing Your Self-Assessment Tax Return

Completing Your Self-Assessment Tax Return What you need to know before filing self-assessment for 2017/18. It’s a common scenario. As the year draws to a close, the thought of your tax return is there, at the back of your mind. But with so much time before the deadline, you decide not to worry about it […]

Planning your estate: wills

Planning Your Estate: Wills How to plan and make a legally valid will. Most people don’t like to think about their own mortality, but planning for the future is important to ensure your property, money and possessions are distributed the way you intend. Writing a legally valid will is an essential part of this, and […]