Surrey-based accountancy firm TWP has urged employers to prioritise compliance and seek support if they need it in the face of new payroll regulations coming into force from the start of the 2024/25 financial year. “Compliance is key” was the message delivered by the firm, which provides a full range of personal and commercial accounting […]
The way that employees are paid in the UK has changed in a number of ways, from holiday accrual to a rise in the National Minimum Wage. As an employer, compliance with new regulations needs to be your number one priority – ensuring that your payroll is up to date to avoid breaching the rules […]
UK pensions are on the cusp of a significant transformation, thanks to the concept of a “Pot for Life.” Since the introduction of auto-enrolment, which has seen a remarkable uptake with 88 per cent of eligible employees now participating in workplace pensions as of 2022, the focus has shifted towards addressing the complexities arising from […]
In a recent turn of events that could signal a positive shift in the UK’s economic landscape, a closely watched survey has revealed that UK consumers’ confidence in their personal finances has reached its highest level in over two years. According to research firm GfK, the outlook on individuals’ financial situation for the year ahead […]
In an eye-opening revelation, the latest figures for the 2020-21 tax year have showcased the immense potential of Individual Savings Accounts (ISAs) in the UK. With the largest ISA pot exceeding £11.6 million, according to a recent Freedom of Information request, and the top 25 ISA investors holding an average of £11,660,000 each, it’s clear […]
With the start of the new tax year, taxpayers can expect significant changes that will directly impact their finances in the next tax year (2024/25). If you haven’t already, it’s time to closely examine your financial planning, including savings, investments, and tax compliance. So, what changes should you be aware of from 6 April 2024? […]
From 6 April 2024, UK redundancy rules will change, particularly surrounding pregnant employees and those on family-related leave. The new legislation extends the ‘protected period’ for redundancy to 18 months after the birth or adoption placement, requiring employers to prioritise these employees for suitable alternative employment in case of redundancies. The financial impact on your […]
HM Revenue & Customs (HMRC) recently reported a £2 billion increase in income tax receipts, reflecting a strong self-assessment period and an evolving dynamic within the tax landscape. The Government’s recent changes, including adjustments to National Insurance Contributions (NICs), have both mitigated and exacerbated the overall NIC burden. This is because they encompass rate reductions […]
New research by Marktlink suggests that around 33 per cent of UK business owners are unaware of the value of their company – only slightly lower than the European average figure of 40 per cent. While you are not alone if this applies to you, you must know what your business is worth. Why? Let […]
A survey by the Bank of England (BoE) and the Department of Business and Trade has identified a potentially significant challenge facing SMEs on their journey towards growth. The survey’s findings indicate that investment is crucial to sustaining growth for SMEs, but that many businesses faced barriers to accessing finance to make sufficient investment in […]
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