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Abolition of dispensations from April 2016

Under current tax legislation, any expenses reimbursed to employees (even if they are ‘allowable’ for tax purposes) must be reported to HM Revenue & Customs (HMRC) on Expenses & Benefits Form P11D. However, each employee can then make a counter-claim for tax relief in respect of the qua… More

Is your business prepared for the changes to the National Living Wage?

Here’s what you need to know As of 1 April 2016 the new National Living Wage premium comes into effect, on top of the National Minimum Wage (NMW) for the over 25’s. The National Living Wage will initially be set at £7.20 per hour, representing an increase of 50p over the current NMW rat… More

The third Budget in 12 months

This Budget looked as if it would be a difficult one for the Chancellor, faced as he was with disappointing economic numbers and the need to avoid ruffling feathers ahead of June’s in/out referendum. What was to have been the big announcement – reform of pensions – was kicked into the long gra… More

Budget 2016 – Key Points

The Chancellor’s third Budget in the space of 12 months was expected to be less exciting than its two predecessors. His room for manoeuvre was seen as constrained by disappointing economic numbers and June’s EU referendum. Nevertheless Mr Osborne managed to produce a range of surprise measures … More

Keens City Round Up: MK businesses have until 6th April to respond to MK Development Plans!

Last month, I raised the subject of the Strategic Development Consultation (known as Plan MK) and the Employment Land Review (written by GVA Grimleys for the Council and the Milton Keynes Development Partnership) on the subject of the growth and development of MK.  This appears to have gathered so… More

Keens City Round Up: Making Room for More Growth in MK

It’s always good to start the Year with positive economic news.  The Centre for Cities report written by Paul Swinney was issued last week and places MK high on the list of towns and cities to live and work in. Extracts from the report make for pretty good reading: MK is one of the top high … More

What assumptions are you making?

Stavros and Andreas were out walking in the hills when they came upon an old mine shaft.  “How deep do you think it is?” asked Stavros. “I don´t know,” answered the other.  “Let´s drop a stone in and listen for it to hit the bottom.  They did so and waited, but the… More

Do you receive rental income from residential property?

Here are two more questions… When calculating the net rental income chargeable to tax, do you claim a deduction for interest paid on a loan (typically, a mortgage loan used to buy the property)? Do you pay tax at the higher rate of 40% (or more)?  Or, indeed, would you pay tax at that level i… More

Christmas opening hours 2015

The Keens Shay Keens MK office will be closing for Christmas at 16:00 on Thursday 24th December and will reopen at 9:00 on Monday 4th January 2016. Seasons greetings and best wishes from everyone at Keens Shay Keens MK! … More

Autumn Statement 25 November 2015

The autumn statement is an opportunity for the government to review and declare it’s spending for the next year. Most of the press commentary, prior to the Chancellor’s comments today, involved speculation on which areas of government would suffer the biggest cuts. Now we know… Major oppositio… More

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