The £2,000 cap on National Insurance (NI) free salary sacrifice pension contributions was sold as a tax on high earners but, if you look closer, the opposite is true. In fact, the people most exposed are middle-income savers and the small businesses that employ them. For the so-called “squeezed middle”, it is yet another quiet […]
Do you know what your Personal Savings Allowance is? While most taxpayers in the UK will know the thresholds for Income Tax, a worrying few know the way in which personal savings can be subject to tax. With ISAs set for a significant overhaul, understanding the less tax-efficient saving options will soon be more important. […]
TWP’s supports Elgin Energy with audit insights Elgin Energy is a fast-growing multinational company that develops and operates solar energy sites. Initially focused on developing solar sites from Greenfield to the build-ready stage, Elgin Energy has evolved into an Independent Power Producer (IPP), with plans to build and operate its own solar sites. With offices […]
From April 2027, changes to Inheritance Tax (IHT) treatment on pensions are expected to alter how many families approach estate planning. For years, pensions have commonly sat outside a person’s estate for IHT purposes. This allowed pension savings to be passed on relatively efficiently after death, particularly where other assets could be used during retirement […]
On 21 May 2026, the Chancellor, Rachel Reeves MP, announced ‘Great British Summer Savings’, a package of measures aimed at cutting costs for families, particularly those with children. The following two measures are of particular importance to businesses: TAX-FREE MILEAGE RATES A 10p per mile increase in tax‑free mileage rates will apply in the 2026/27 […]
For taxpayers required to submit a self assessment tax return, new boxes on the 2025/26 employment page form will require the following information for each directorship held by an individual: If the company was a close company; The company’s name and registration number; Dividends the taxpayer received from the close company during the tax year; […]
NEW R&D TARGETED ADVANCE ASSURANCE SCHEME HMRC have introduced a targeted advance assurance service for Research and Development (R&D) tax relief claims. The service, which is a pilot, aims to provide Small and Medium-sized Enterprises (SMEs) with clarity on complex or high-risk areas before a claim is made. The new targeted scheme is open to […]
In Professional Game Match Officials Ltd (PGMOL) v HMRC, the First-tier Tribunal (FTT) concluded that football referees engaged by PGMOL were not employees for tax purposes. The decision followed a long procedural history, including appeals up to the Supreme Court, and focused on the correct application of employment status principles. PGMOL provides referees for professional […]
Date What’s Due 1 June Corporation Tax for year to 31/08/2025, unless quarterly instalments apply 19 June PAYE & NIC deductions, and CIS return and tax, for month to 05/06/2026 (due 22 June if you pay electronically) 1 July Corporation Tax for year to 30/09/2025, unless quarterly instalments apply 19 July PAYE & NIC deductions, […]
Artificial intelligence (AI) is playing an increasingly visible role in financial services, and robo‑advisers have become one of its most talked‑about applications. These platforms promise quick, low‑cost investment solutions powered by algorithms and data analysis and for some people, they can be a useful starting point. However, when it comes to long‑term wealth planning, the […]
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