From 2027, Benefits in Kind (BIK) must be processed through payroll, just like salaries. TWP Accounting can help you get ready. Download our Guide In celebration of National Payroll Week this month, we thought this was the ideal time to review your processes and plan for one of the biggest changes on the horizon. What […]
Since 6 April 2025, the UK Government has increased audit thresholds, reducing compliance burdens for many businesses.
The Government has confirmed its intention to ban the sale of new petrol and diesel cars by 2035. For businesses, this means electric vehicles (EVs) will soon become standard. However, waiting until change is mandatory may not be the most sensible option. Switching to EVs now can bring financial benefits, lower running costs and present […]
Many business owners are so focused on the day-to-day operations and future growth of their company that they overlook what would happen if a shareholder dies or becomes seriously ill. Without the right protection in place, your business could face major disruption, legal complications or even loss of control. What happens if a shareholder dies? […]
Companies House have changed the way they do things which includes new requirements on identification of directors. The new changes are a result of the Economic Crime and Corporate Transparency Act 2023 becoming law and which gives Companies House greater powers to help improve corporate transparency and tackle economic crime. Information Checks: Companies House have had enhanced […]
For many ambitious businesses, the question of how best to scale your business looms large. In mature markets, organic growth can be a slow burn. That’s why, for a growing number of scale-ups, business acquisitions are becoming an attractive and sometimes necessary route to rapid expansion. Whether your goal is to enter new markets, outpace […]
Making Tax Digital (MTD) is the Government’s initiative designed to streamline and digitise tax reporting in the UK. While the MTD scheme has been in force for the past few years, changes are approaching, particularly for sole traders, self-employed individuals, and landlords. Below, we outline clearly what MTD is, who it affects, the upcoming changes, […]
Changes to Inheritance Tax (IHT) on pension pots are coming in April 2027, and while this might seem far away, now is the time to start planning. Delaying could leave your loved ones with a significant tax bill or reduce the financial legacy you intend to pass on. Here’s what you need to know and […]
Chancellor Rachel Reeves today delivered her Spring Statement, outlining the Labour Government’s economic priorities and reaffirming a commitment to fiscal discipline and long-term investment.
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 […]
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