From 1 April 2025, the National Minimum Wage will rise to £12.21 per hour (an increase of 6.7 per cent), meaning rising employment costs for businesses. For graduates, higher earnings can trigger student loan repayments, a factor you should consider when managing your payroll. Graduates start repaying their student loans when their income exceeds specific […]
HM Revenue & Customs (HMRC) has recently issued One to Many (OTM) letters to private equity businesses and estate agents. These letters can be sent to any business and usually highlight HMRC’s focus on compliance, urging you to review your practices. What are One to Many letters? OTM letters are not threatening and do not […]
In January, the Government unveiled its Artificial Intelligence (AI) Opportunities Plan, outlining how the UK hopes to shape the AI trajectory by driving economic growth, enhancing public services, and creating new job opportunities while ensuring AI benefits society. While there is still a lot we do not know about the full capabilities of AI, we […]
No matter how well-prepared you may think you are, things will not always go to plan. It could be a sudden shift in the market, supply chain disruptions, unexpected repairs to your office or equipment, or even a personal emergency. That is why having a budget that accounts for the unknown is essential. How to […]
Despite repeated calls for reform, the Government has shown little support for tackling chronic late payments, leaving businesses to fend for themselves. One effective solution is to tighten your credit control policies to manage the issue. Strengthening credit control A solid credit control system helps you keep payments on track. Here are some ideas on […]
If breeding and selling animals has turned into a source of income for you, you need to make sure your earnings are declared correctly to HM Revenue & Customs (HMRC). You can earn up to £1,000 annually from casual trading or self-employment without needing to report it. However, once your income exceeds this threshold, you […]
With the end of the tax year fast approaching on 5 April 2025, now is the time to take action (if you haven’t already) and get your finances in order. At TWP, we know how effective planning can be in helping businesses and individuals reduce their tax bills and maximise available allowances. Here’s how you […]
Surrey-based accountancy firm TWP is urging businesses and individuals to get ahead of the 5 April 2025 tax deadline to make the most of available tax-saving opportunities. With allowances resetting at the end of the tax year, failing to act now could mean missing out on valuable reliefs. Andrew Goddon, Partner and Head of Taxation […]
Have you ever considered buying a business to rapidly expand the size and profitability of your business? Perhaps you have thought about it as part of your growth strategy, but you were nervous about the risk or the process. As members of The Corporate Finance Network, we can support our clients through a buy & […]
HMRC has published new guidance regarding a change in the interpretation of how Double-Cab Pickup (DCPU) vehicles should be classified for car benefit, capital allowances and some deductions from business profits purposes. Previously, HMRC accepted that if the payload of a DCPU was 1 tonne or more, it was a goods vehicle, not a car, and […]
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