Category Archives: Key Guide

Key Guides April 2019


Key Guides April 2019

KEY GUIDES APRIL 2019

Updated Key Guides now available

We are delighted to make available to you our updated and freshly designed Key Guides.

All the Guides have been reviewed for changes to the 2019/20 tax year. The following Guides have specific changes as detailed. If a title is not listed, then no additional substantive changes have been made. The disclaimer date on the guides have been updated to reflect the date of the review.

A summary of the Key Guides and download links are Here:-

Accessing your company profits

  • Updates for the 2019 Budget, including the NIC thresholds, national living wage and personal allowance

Key Guide – Accessing Company Profits

Investing tax efficiently

  • Updates for the 2019 Budget, including the personal allowance, dividend allowance and capital gains allowance
  • Updated property income tax rate for 2019/20 with, a quarter of interest set against rent and the balance qualifying for the 20% tax credit.
  • Updated capital gains and capital losses example with new personal allowance.

Key Guide – Investing Tax Efficiently

Making Tax Digital

  • The latest on the MTD implementation schedule, including information on the ‘soft-landing’ phase.

Key Guide – Making Tax Digital

Pension tax planning for high earners

  • Updates for the 2019 tax year including income tax thresholds for and the UK including Scotland, the personal allowance and pension allowances.

Key Guide – Pensions Tax Planning

Retirement and tax

  • New example on state pension tax, with new 2019/20 personal allowance and state pension figures.

key Guide – Retirement and Tax Planning

Starting and selling a business

  • Updated example for the tax cost of different business structures including 2019/20 tax thresholds.

Key Guide – Starting and Selling a Business

Strategies for a high-tax environment

  • Updated government borrowing projections from the Office of Budget Responsibility.
  • Capital gains tax example updated for 2019/20 tax year.

Key Guide – Strategies for a High Tax Environment

Tax allowances for business investment

  • Updates for capital allowances claim example.

Key Guide – Tax Allowances for Business Investment

Taxation of property

  • Updated buy-to-let income example, on finance costs restrictions.

Key Guide – Taxation of Property

You and yours – estate planning

  • Update on the postponement of the probate fees increase and the IHT residence nil rate band.

Key Guide – Estate Planning

If you have any difficulties accessing the Key Guides or have any queries, contact Paul Southward.

Paul Southward


Key Guides January 2019


Key Guides January 2019

KEY GUIDES JANUARY 2019

Updated Key Guides now available

We are delighted to make available to you our updated and freshly designed Key Guides.  There are eleven updated Key Guides publications, covering a wide range of topics that we hope you will find interesting.

Each guide offers you an essential introduction to a key topic of financial planning, covering the latest developments announced in the 2018 Budget, and coming in to effect in April with the new tax year.

With key headline announcements coming into effect in April, such as the personal allowance increasing ahead of schedule, it is just as important as ever to make sure you are getting the latest advice. With the new tax year bringing deadlines for key allowances, you should make sure you’re making the most of the opportunities available to you.

Our updated Key Guides include: –

  • The 2018 Budget: With changes announced to the personal allowance, income tax thresholds, capital gains tax, property transaction taxes and more, our full set of guides covers the latest tax situation.
  • Updated planning points: Our handy pop-out tips have been updated across the range, helping you to ask the right questions about your financial planning.

The Key Guides are designed to give an insight into each topic covered and highlight some of the more important issues.  If you need any further information on any of the topics covered, contact Paul Southward or your usual KSK contact.

The download to each of the updated Key Guides can be found here: –

INVESTING TAX EFFICIENTLY

Key Guide – Investing Tax Efficiently

MAKING TAX DIGITAL

Contact: Paul Southward direct for the latest news and updates on preparing your business for Making Tax Digital

PENSION TAX PLANNING FOR HIGH EARNERS

Key Guide – Pension Tax Planning

MAKING THE MOST OF FRINGE BENEFITS

Key Guide – Fringe Benefits

STARTING AND SELLING A BUSINESS

Key Guide – Starting and Selling a Business

STRATEGIES FOR A HIGH TAX ENVIRONMENT

Key Guide – Strategies for a High Tax Environment

TAX ALLOWANCES FOR BUSINESS INVESTMENT

Key Guide – Tax Allowances for Business Investment

COMPANIES – TAX EFFICIENT PROFIT EXTRACTION

Key Guide – Accessing your Company Profits

TAXATION OF PROPERTY

Key Guide – Taxation of Property

WORKING THROUGH PERSONAL SERVICE COMPANIES

Key Guide – Personal Service Companies

ESTATE PLANNING FOR YOU AND YOUR FAMILY

KEY Guide – Estate Planning

If you have any difficulties accessing the Key Guides or have any queries, contact Paul Southward.

Paul Southward

Paul Southward


Updated Key Guides published 23rd August 2018


Updated Key Guides published 23rd August 2018

UPDATED KEY GUIDES

Whilst most of us bask in the hottest summer for over half a century, the government is busy running consultations and trying to prepare for what Brexit will eventually mean. But that is no reason for us not to be busy, whilst we await the announcements of the Budget, and the result of the negotiations.

The latest update for our Key Guides series brings you fully revised guides giving you essential explanations of key topics across business, tax and retirement planning. We understand how confusing it can be to get a clear understanding of how complex rules and reliefs affect you, so our guides will give you everything you need to get started in one place.

Our current update includes new examples, tables, graphics and case studies throughout, to make each topic as accessible and easy to get to grips with as possible. The new range will give you real world examples of complex rules and calculations, including fresh advice on inheritance planning and gifts.

Investing tax-efficiently

  •  New example on timing of CGT gains and losses
  •  Added reference to the OTS review of savings and investment income tax

 Making Tax Digital

  • Updates on latest timetable announcements from HMRC
  • Updated section on MTD pilot schemes
  • Restructured to focus on VAT and preparing for MTD

Pensions tax planning for high earners

  • New clarification and example on tax on pension withdrawals
  • New example on SIPP borrowing for property investment
  • Clarification on income tax relief on contributions in Scotland

Starting and selling a business

  • New tables covering:
  • Business financing options
  • Advantages and disadvantages to limited company structure
  • Payment options on sale of a business
  • Loan notes
  • VAT treatment of going concerns

Strategies for a high-tax environment

  • New example highlighting differing CGT rates between residential property and other assets
  • New graphic on maximum tax-free income allowances
  • Updated OBR forecasts

Working through personal service companies

  • New table summarising tax deadlines for deemed salary under IR35 rules
  • Restructuring of ‘Tax planning and pitfalls’ section
  • Summaries of recent IR35 rulings
  • New section on consultation on IR35 rules in the private sector

Estate planning

  • New example on the application of lifetime gifts and gifts from normal income

The latest Key Guides can be downloaded here:-

Tax Planning for High Earners

Tax Planning for High Earners

Estate Planning

Estate Planning

Making the most of Fringe Benefits

Making the most of Fringe Benefits

Strategies for a High Tax Environment

Strategies for a High Tax Environment

Investing Tax Efficiently

Investing Tax Efficiently

Making Tax Digital

Making Tax Digital

Personal Service Companies

Personal Service Companies

Starting and Selling a Business

Starting and Selling a Business

For more information contact Paul Southward or your usual KSK contact.

Paul Southward


Updated Key Guides July 2017


Updated Key Guides July 2017

UPDATED KEY GUIDES

Our updated Key Guides July 2017

Business as usual while the government regroups

Despite the roller-coaster last few months since our last Key Guides update, there is still uncertainty as to government plans on the economy, Budget policies and of course the ongoing Brexit negotiations. But that doesn’t mean everyone else should put their plans on hold.

The ordinary business of looking after your savings and investments doesn’t stop, so we’ve taken the opportunity of the hiatus in government activity to create some new guides on topics that have new relevance:

  • In the last few years, investment in property, particularly buy-to-let, has grown in popularity. ‘Safe as houses’ is not a cliché for nothing. But recent changes to the tax rules around buy-to-let mean it’s not quite as tax-effective as it once was. Our new guide takes you through the key issues.
  • HM Revenue & Customs’ controversial Making Tax Digital (MTD) project has been given a new timetable. While only businesses with turnover above the VAT threshold will have to start filing digital VAT returns from April 2019, MTD will affect many firms. Designed to bring tax compliance into the 21st century, it’s worth starting to plan for it now.

Our specialist Key Guides publications provide you with expert content on topics ranging from estate planning to protection for your family and investing for income when you retire. We hope that they are both informative and stimulating.

Contact Paul Southward or your usual KSK contact to discuss any issues that you think may affect you. For further information on any of the topics above and to view our full set of updated Key Guides, please click on the links below:-

  • Pensions and tax planning for high earners

 

https://goo.gl/cLBtB5

  • Starting and selling a business

 

https://goo.gl/WqH39U

  • Accessing your company profits

 

https://goo.gl/RRR214

  • *NEW* The taxation of property *NEW*

 

https://goo.gl/e6cQGX

  • *NEW*Making tax digital *NEW*

 

https://goo.gl/t4hZnz

Contact Paul Southward if you have any queries.

Paul Southward


Updated Key Guide series: April 2017


Updated Key Guide series: April 2017

KEY GUIDES

We’ve recently reviewed our series of Key Guides as usual at this time of year. These specialist publications provide you with expert content on topics ranging from starting and selling a business to strategies for a high tax environment.

With the snap general election called for 8 June, the government was particularly active in trying to push through its Finance Bill before the dissolution of Parliament. However, the record-breaking 762-page Bill ended up as a mere 148 page Finance Act as more controversial items were set aside to smooth its passing.

There is still uncertainty around some measures such as the changed money purchase annual allowance cut for 2017/18 and the projected cut to the dividend allowance for 2018/19, but both are expected to be reinstated should the government be returned on 8 June. We will certainly keep you posted at that time.

The main areas to look out for this quarter are:

  • The taxation of investments

 

We have updated the section on dividend income to reflect the Finance Act changes. We’ve added further information regarding property income and tax credits.

  • Drawing profits from a company

 

The section on the taxation of dividends has been updated. NIC, corporation tax and national living wage figures have also been updated.

  • Working through personal service companies

 

The section on IR35 rules has been updated with the latest figures. We’ve also included information on the government’s reforms to the way in which IR35 applies to public sector engagements.

  • Making the most of fringe benefits

 

The Guide has been updated to reflect the changes to salary sacrifice arrangements. Company car rates and fuel benefits have been updated.

The full set of Key Guides are as follows:

Making the most of fringe benefits

Strategies for a high tax environment

Working through personal service companies

Drawing profits from a company

Workplace pensions and auto-enrolment

Pensions and tax planning for high earners

Living abroad

You and yours – estate planning

Tax allowances for business investment

The taxation of investments

Pensions freedom – drawing from your pension

For further information on any of the topics above and to view our full set of updated Key Guides, please visit our website or click on the links. Contact Paul Southward or your usual KSK contact to discuss any issues that may affect you.