Entries by Mani Kauren

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 […]

Budget Report 2018

Is austerity finally coming to an end? Going into Budget 2018, between leaks and political instability, few expected Chancellor Philip Hammond would have surprises left to spring. How wrong we were. Under pressure to support No 10’s ’end of austerity’ message, bolstered by revised growth forecasts from the Office of Budget Responsibility, and safe in […]

Insider October 2018

Chancellor mulls abolishing dividend allowance The Treasury is reportedly considering abolishing the dividend allowance in Autumn Budget 2018. The Daily Telegraph claims Chancellor Philip Hammond has business owners, directors and shareholders in his sights to help fund a Government pledge to increase spending on the NHS. Hammond cut the dividend allowance from £5,000 to £2,000 […]

Extracting Profits From a Business

What are the tax implications? People run businesses for a variety of reasons from passion to pride, but making a living is high up the list for most people. How do you go about drawing profit from your business, and doing so efficiently? If your business operates as a partnership or sole trader, the profits […]

Using Pension Funds in Your Business

How your pension savings can help finance your business. As traditional loans fall out of favour with increasing numbers of business owners, you may be looking for an alternative route for financing – and your pension could be the answer. Data from the British Business Bank shows that in 2017 the number of small businesses […]