Business Update – Summer 2019

BUSINESS UPDATE

THE LATEST BUSINESS UPDATE FROM KSK

What with the Brexit fiasco continuing to drag on it is quite understandable that some people may be thinking that we are all caught up in some interminable Groundhog Day.

In our latest edition of Business Update we remind you that unlike Bill Murray’s character stuck in a Punxsutawney time-loop, there are plenty of tax issues and changes happening to keep individuals and businesses on their toes.

So just as Bill Murray’s character, Phil Connors eventually learned to turn his predicament to his advantage, we provide information and tips to help you keep moving forward.

2019/20 TAX YEAR CHANGES

Our lead article highlights some of the tax gains and losses that arise from the tax changes introduced from April 2019.

For summaries of the main changes made from April 2019, you may wish to consult our earlier articles published here:-

Personal tax changes

Personal tax changes 2019/20

Business tax changes

Business Tax Changes 2019-20

HIGH INCOME CHILD BENEFIT – PROTECT YOUR STATE PENSION RIGHTS

This article reminds parents with higher income of the potential tax charges, and also highlights how you may be able to protect your rights to State Pension.

AUTO-ENROLMENT PENSIONS

A reminder about the changes to employer and employee pension contributions under auto-enrolment.

WOULD YOUR BUSINESS BENEFIT FROM FLEXIBLE BENEFITS?

The feature story in our newsletter looks at ways in which employers may be able to help improve employees work-life balance.

“Flexing your business” considers how the concept of flexible working is now extending to other benefits for employees – from flexible payment structures, the opportunity to trade holidays for increased salary (or vice versa) or control over their working hours which could be over a monthly or even annual cycle.

The ‘one size fits all’ solution is no longer the only approach.

If you think your business would benefit from a flexible benefits policy, you should contact Paul Southward or your usual KSK contact.

CAPITAL GAINS TAX FOR NON-UK RESIDENTS

In this article we remind you of the changes to capital gains tax for non-UK resident landowners.  You can also read more on this in our tax alert issued on Friday 5th April 2019 – here

Tax Alert Friday 5th April 2019

MAKING TAX DIGITAL FOR VAT

A reminder that businesses (and landlords) with an annual turnover greater than £85k need to consider registering for MTD for VAT.

PROTECT YOU AND YOUR BUSINESS AGAINST FRAUD

Cases of fraud remain high, so we suggest ways to make sure your business isn’t leaving windows open to allow staff or associates to steal.

DOWNLOAD KSK BUSINESS UPDATE – SUMMER 2019

Here: KSK Business Update – Summer 2019

As usual, contact Paul Southward for more information.

Paul Southward