20 years ago, very few businesses had websites – now it is rare to see a business that doesn’t. The same is happening again with Facebook. In this article, TWP Accountants run you through how to establish your business on the world’s largest social media platform. Setting up your Facebook page The first step to […]
The Loan Charge is a cumulative payment of income tax and National Insurance paid to contractors and other professionals in the form of loans dating back to 1999 which will be added to this year’s self assessment filing. Contractors and other professionals were paid in this way so that the company making the payment would […]
There are over 2.5 million private landlords owning, on average, 1.8 properties each here in Britain. For most private investors, buy-to-let makes a lot of sense as there are two opportunities to make money – first from the rents paid by tenants every month and second from a rise in the value of the property […]
As we are nearing the end of the 2018/19 tax year, our thoughts are focused on opportunities that may be available for you for tax savings and investment planning that should be undertaken before the 5th April. Our year-end planning checklist provides a summary of key areas which you may find useful. If you wish […]
For over 2 million Brits, their future financial hopes and aspirations are pinned on holding property they don’t live in and letting out to others. In the 2015/2016 tax year, the average landlord owned 1.8 properties each and long-term landlords achieved annual returns of 9.9% if they had bought their properties in the year 2000 […]
If you want to borrow money from your business or if your business needs to borrow money from you, that’s fine. If you do one or the other, it creates something called a “director’s loan account”. Directors of smaller businesses with turnover of less than £1m a year often make frequent use during a financial […]
“Payment on account” is an aspect of the UK self assessment system which many self-employed taxpayers find simultaneously confusing and worrying. As you know, the self assessment deadline of January 31st has just passed but another deadline is approaching – “payment on account” day of 31st July. For newly self-employed people, especially those in their […]
The Chair of the Treasury Committee, Nicky Morgan MP, has highlighted that more than 200,000 parents may face a smaller state pension due to a simple error involving child benefit. In order to receive the full state pension, workers need to make a minimum of 35 years of National Insurance contributions. However, parents with children […]
The number of pension withdrawals made by over-55s using the pension freedoms has hit a record low, according to new figures from HM Revenue & Customs (HMRC). The latest data from the tax authority shows that the average withdrawal fell to just £7,197 in the final three months of 2018. In comparison, the average withdrawal […]
A new Freedom of Information request has revealed that last year only 21,000 people took advantage of a tax scheme that allows a surviving partner to expand their ISA allowance to include funds from their deceased spouse’s accounts. It is estimated that 150,000 people a year inherit an ISA from a spouse, which means that […]
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