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Personal Service Companies – IR35 – The taxman’s new tests

In many small Limited Companies the directors and shareholders are the same people. This presents an opportunity for the owner-managers to draw income as dividends, enjoying lower tax rates and avoiding National Insurance Contributions (NIC). Some years ago, a special tax regime was introduced for … More

Rhodes to Prosperity

At Keens Shay Keens MK,  we are committed to helping people prosper and as part of that commitment we host a range of value-added seminars for our clients and professional colleagues.  When we were looking at our seminar programme for this year, we thought that the usual fare of technical and tax … More

Welcome to Kathy Smith

We warmly welcome Kathy Smith, who joined our team as a Technical Tax Manager on 8 May. A Chartered Accountant and Chartered Tax Adviser with 2 decades’ experience in practice environments, Kathy is taking on the management of the firm’s Corporation Tax compliance and planning systems. She will… More

Late filing penalty quashed by Tribunal

We are all used to being told by HM Revenue & Customs (HMRC) what they think the rules mean. Sometimes we take issue with them. Sadly, all too often the sensible action is to comply, simply because of the costs of taking relatively small points through an expensive appeals process. So forgive us… More

There’s an old adage in tax planning…

“A tax deferred is a tax saved!” Fortunately, recognised accountancy practices can help out with this. Generally speaking, the amount of profit you make is the product of actual transactions. However, the calculation of profit should also take into account timing differences. Some of these may n… More

Bogus emails from HM Revenue & Customs

We continue to receive a flow of enquiries from clients receiving emails, appearing to come from HM Revenue and Customs (HMRC), saying a tax rebate is due, and asking for bank details. Such emails are always bogus, and are aimed at obtaining your information for criminal purposes. Some may also try … More

End of the road for company cars?

Having lured people into going for low CO2 cars, it seems that the government has moved the goalposts for many. From 6 April this year, drivers of low CO2 cars whose benefit in kind was calculated at 10% of the list price of the car will see an increase in their car tax bill of up to 40%. More gener… More

Reclaiming VAT on old debts

If you’re VAT-registered, unless you qualify to adopt the cash accounting scheme, VAT you charge has to be paid over to HM Revenue & Customs based on invoices raised, not cash received. So you may regularly have to pay VAT you have not received. Many people overlook the fact that, if a cus… More

Young Enterprisers of MK Take Top Prizes

Central Milton Keynes based accountancy firm Keens Shay Keens MK presented the top awards for Best Company Report to Young Enterprise teams from The Ousedale School and Walton High School at the finals competition held on 28th March 2012 at The Hazeley Academy. First place honours for Best Company R… More

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