Surrey-based accountancy firm, TWP, has warned that sweeping fiscal changes announced by Chancellor Rachel Reeves will hit SMEs and business owners hard as the Government seeks to plug a ‘£22 billion black hole’ in the public purse. In one of the most hotly anticipated Autumn Budgets in recent years, the Chancellor announced the Government’s plan […]
A new Government, a new Chancellor and a new approach to the UK’s fiscal policies.
Rachel Reeves entered her first Budget with a strong message that her measures would lead to “an economy that is growing, creating wealth and opportunity for all”.
With the news that the Government intends to increase Capital Gains Tax Business Asset Disposal Relief for Entrepreneurs selling their business from April 2025 we will be having more conversations with clients who are considering a swift sale of their company. Philip Munk, discusses what the best strategy is likely to be, for any business […]
When it comes to managing your investments, you may have come across various strategies that aim to balance risk and reward. One such method that is gaining popularity among both seasoned and novice investors is the core-satellite strategy. This approach offers a way to create a diversified portfolio while still allowing room for higher-risk opportunities. […]
When it comes to taking money from your pension, careful planning is essential to minimise your tax liability and maximise the longevity of your savings. Here is how we recommend you structure your pension drawdowns effectively. Use your tax-free lump sum wisely You can withdraw up to 25 per cent of your pension as a […]
Venture capital trusts (VCTs) offer an opportunity to invest in smaller UK companies while benefiting from attractive tax reliefs. As an investor, you can receive income tax relief of up to 30 per cent on your investment, tax-free dividends, and no Capital Gains Tax when you sell your VCT shares. However, these benefits come with […]
Labour’s Autumn Budget is just around the corner (30 October) and many businesses are uncertain of what the next few years may hold for them. The Prime Minister Keir Starmer has already warned of a “painful” Budget, with big changes to taxation, funding for public services, and incentives for investment. For businesses, these changes can […]
Capital allowances are a great way to reduce your tax liabilities by claiming deductions on certain property-related expenses. They allow you to offset the cost of capital expenditure – plant, machinery and certain fixtures – against your taxable profits, especially if you have invested in commercial properties or made major improvements. Who is eligible to […]
As the Autumn Budget approaches, the Government has pledged that it will “make the tax system fairer” and avoid raising taxes on working people and certain businesses. The Government has said that it will not raise: Income Tax National Insurance (NI) Corporation Tax VAT While Corporation Tax is not levied on individuals, the fact that […]
For business owners and directors, dividends may form a critical element of your salary strategy and tax planning, keeping your tax liabilities to a minimum. To extract profit tax-efficiently from your business, you may use a combination of: Salary – Typically set at or around the Personal Allowance of £12,570 to minimise Income Tax and […]
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