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.