Many business owners feel like all they do is chase up customers on their invoices. When you’ve provided goods or services, you deserve to be paid. But when they refuse, or if your client goes bust, the chances of getting what you’re owed are slim. This can greatly affect your cashflow, but you don’t need […]
Interest rate increases affect nearly every individual and business in an economy and the UK is no different. On the 2nd November 2017, the Bank of England Monetary Policy Committee raised interest rates from 0.25% to 0.50%. This was the first increase in the rate since July 2007. In this article, we’ll look at what […]
Tens of thousands of Britain’s top earners will be hit with unexpected pension tax bills as a result of a change to the annual pension tax-free savings allowance made in 2016. The vast majority of Britons can pay up to £40,000 into a pension pot each year. Payments they make enjoy a considerable amount of […]
As the end of the current tax year looms, our accountants here at TWP recommend that all our valued clients look at any potential Capital Gains Tax (CGT) liabilities they may have incurred. CGT allowance is at £11,300 – that is, you won’t be taxed on your first £11,300 worth of capital gains. Your allowance […]
Weybridge-based TWP Accounting is calling on people to assess their estate to see how new rules regarding property and tax could affect the inheritance they leave. In April 2018 the Government introduced the new residence nil rate band (RNRB), which provides an additional £100,000 worth of tax relief on Inheritance Tax. This is on top […]
SMEs across the UK are currently owed over £25 billion in unpaid invoices, according to direct-debit company Bacs. More than 60% of invoices issued by the small and medium-sized enterprises were paid late last year, suggesting the ‘late payment crisis’ is only getting worse. Research from fintech firm MarketInvoice shows that three in ten invoices […]
How long are you waiting to be paid by your customers? The average wait time for a small UK business is 71 days, according to the Asset Based Finance Association. Sound familiar? You aren’t alone… Though we doubt that will be much consolation. There’s a late payment ‘culture’ that has been long established in UK […]
A new report has predicted that a third of millennials – those born between the early 1980s and 2000s – will have money invested in cryptocurrency by the end of next year. Conducted by the London Block Exchange (LBX), the study reveals that five per cent of those under the age of 35 have already […]
A new study by Aviva has found that only 50 per cent of the 2,007 people it surveyed would definitely stay ‘opted in’ to a workplace pension scheme following a rise in minimum contributions. From April 2018, minimum pension contributions will rise from the current two per cent (typically one per cent from the employer […]
For the first time ever, UK private housing stock has surpassed the £6 trillion value mark, according to the latest research from the Halifax. The Halifax report has shown that in 2017 the value of privately-owned homes has grown by £376 billion to reach £6.015 trillion – meaning that the average residential property value is […]
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