Entries by Mani Kauren

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 […]

Insider September 2018

HMRC confirms ‘soft landing’ for Making Tax Digital HMRC has confirmed that digital reporting requirements will be relaxed during the first year of Making Tax Digital (MTD) for VAT-registered businesses. From April 2019, businesses with annual taxable turnover of more than £85,000 will be required to maintain digital records for VAT and submit quarterly returns […]

Tax on Residential Property

How has devolution affected what tax you pay? First-time buyers in England, Northern Ireland – and for a short time in Wales – were the biggest winners in the most recent shake-up to affect property taxes in Autumn Budget 2017. Philip Hammond’s headline measure was to abolish stamp duty for first-time buyers on homes worth […]

Capital Allowances for Plant and Machinery

How to minimise business tax in 2018/19. If there’s one thing that keeps us awake at night it’s the thought of how many British businesses are failing to claim capital allowances to which they are entitled – worth billions of pounds across the board, according to some estimates. Capital allowances provide the mechanism for tax […]

Insider July 2018

Calls increase for reform of ‘flawed’ apprenticeship levy Pressure is mounting on the government to reform the apprenticeships system, following recent apprenticeship levy statistics. The Institute of Directors (IoD) has joined the British Chambers of Commerce (BCC) in urging the government to address ongoing problems with the levy. Apprenticeship starts were down 25% for the […]

Making Tax Digital for VAT-registered businesses

Obligations from 1 April 2019 onwards. Although the Making Tax Digital (MTD) regime has suffered several setbacks and delays, MTD for VAT remains on course to take effect from its planned implementation date of 1 April 2019. Under the scheme, VAT-registered businesses are required to maintain digital records, complete the VAT return from the digital […]

Furnished Holiday Lettings

The pros and cons of letting furnished holiday accommodation. When furnished holiday property is let on a commercial basis for short periods, the owner can benefit from certain tax reliefs which wouldn’t otherwise be available to residential landlords, providing certain conditions are met. However, there are also several disadvantages associated with letting property as holiday […]