A number of businesses who have failed to sign staff up to a workplace pension scheme have been hit with escalating fines by the Pensions regulator for the first time and Philip Munk, Managing Partner at TWP is warning other firms not to get caught out. Under current workplace pension rules, all employers with at […]
Weybridge-based Chartered Accountants TWP are delighted to announce the appointment of a new Accounts Supervisor, as it continues to strengthen and expand its team of accountants. Moon Yue Xin has joined the leading practice having spent the last five years working for another local firm as an Accounts Senior. Moon is highly-qualified and in 2011 […]
Divorced people planning to retire this year could see their expected retirement income cut by £2,100 a year, new research has found. Prudential’s annual “Class of” survey tracks the future plans and aspirations of people planning to retire in the next 12 months. Its Class of 2015 research, published on 16 April, found that for […]
The cost of funding long-term care is a key issue for their clients, say financial advisers. In a survey of 2,000 advisers by investment firm BlackRock, 66 per cent said that their clients were concerned about the potential cost of care in later life. The research also found that almost three-quarters (71 per cent) of […]
Pension providers handled more than 200,000 calls from customers in the first week following the introduction of new pension freedoms on 6 April. Members of the Association of British Insurers (ABI) reported that between 7 and 10 April, they received 229,932 phone calls from customers interested in finding out more about their pension options under […]
HMRC have issued a list of makes and models of car derived vans and combi vans which VAT registered businesses can use to determine if the VAT paid on the purchase can be reclaimed as input tax. The issue is that VAT will normally be claimable in full on the purchase of a commercial vehicle. However […]
HMRC have issued details of the updated VAT fuel scale charges which apply from the beginning of the next prescribed VAT accounting period starting on or after 1 May 2015. VAT registered businesses use the fuel scale charges to account for VAT on private use of road fuel purchased by the business. Please do get […]
HMRC have published a list of common errors in the completion of forms P11D. The information is part of the latest Employer Bulletin and we have reproduced the guidance below. Submitting duplicate P11D information on paper where P11D information has already been filed online to ensure ‘HMRC have received it’. These duplicates can cause processing […]
According to research 36% of the UK’s smallest businesses are unaware of the rules governing VAT thresholds. A third of the UK’s smallest businesses are unaware of the rules governing VAT thresholds, recent research has revealed. This lack of understanding could mean that approximately 780,000 businesses are at risk of being fined by HMRC. Meanwhile, […]
The Pensions Regulator (TPR) has updated its guidance on pensions auto enrolment including what businesses need to do when they have no workers. If you would like help with auto enrolment please do get in touch. Internet link: TPR guidance
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