Penalties Late filing penalties for corporation tax returns are set to be doubled for returns where the filing date is on or after 1 April 2026. Filing a corporation tax return late will now result in a £200 penalty, which will increase to £400 if the return is more than 3 months late. Where the […]
With just a few months until we reach the 2026/27 tax year, we know that many of our clients and contacts will be looking at how this Budget will impact their affairs. While there was much talk about growth, tackling inflation and cutting the cost of living, everyone has been asked to contribute. Freezing many […]
Date What’s Due 1 December Corporation Tax for year to 28/02/2025, unless quarterly instalments apply 19 December PAYE & NIC deductions, and CIS return and tax, for month to 05/12/2025 (due 22/12 if you pay electronically) 30 December Deadline for filing 2024/25 tax return online if you wish to request that HMRC collect outstanding tax […]
One of Surrey’s leading accountancy firms TWP is urging taxpayers to review their finances as they face tougher choices, as the Chancellor Rachel Reeves moves to close personal tax opportunities in her latest Budget. Despite some early dramatics following the OBR report being published hours ahead of the Autumn Budget, we finally have a clear […]
The Government faced a difficult job going into the Autumn Budget, as they navigate a growing national deficit, a seemingly never-ending cost-of-living crisis and political challenges. From the outset, the Chancellor Rachel Reeves made it clear that this would be an Autumn Budget that focused on fairness, with everyone playing their part in reducing national […]
Recent changes to Inheritance Tax (IHT) have led to many more individuals considering how best to preserve the value of their estates so that loved ones can be supported. Life insurance policies can play a key role in mitigating the impact of IHT, but only when managed effectively. If they are incorrectly handled, life insurance […]
The way that people view work is something that continually changes, especially as different generations move their way through career paths. As a new generation braces for its twilight years, there is a growing consideration of how best to handle the winding down of work. Rather than abruptly retiring on a fixed day, many are […]
When it comes to long-term investment, cash has typically been less advantageous than other assets. With recent changes to the Bank of England’s base rate, cash is in a less favourable position than before. As such, it is time to consider diversifying your investment strategy to ensure that you continue to get the returns you […]
Digital wallet abuse is on the rise as criminal networks continue to exploit individuals and businesses for their own selfish gains. In 2024, over 2.5 million cases of remote purchase fraud were recorded, so it is important that you can spot signs of digital wallet fraud and put measures in place to protect yourself, your […]
Students who started their undergraduate and advanced learner loan courses on or after 1 August 2023 will fall into the new Plan 5 payment plan bracket. From April 2026, students who fit in the Plan 5 criteria will begin repaying their student loan, which is why it’s important you understand the new plan and how […]
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