Whilst the issues in the Middle East may appear thousands of miles away, we know that it will have a ripple effect across our clients’ businesses, some more than others. If this disruption continues, clients who were impacted by the Russia energy shock, may find this much worse. We wanted to share some thoughts about […]
The countdown is on to the new tax year, but will you be paying more tax than necessary? This year brings a number of important tax changes, including frozen thresholds, higher dividend tax…
Over the past year, Inheritance Tax (IHT) has become a growing concern for business owners, farmers and their families. Proposed reforms to Agricultural Property Relief (APR) and Business Property Relief (BPR) raised the prospect of significant tax bills on death, even where wealth is tied up in trading assets rather than cash. A pre-Christmas announcement […]
Time is running out for company directors, members of LLPs and Persons with Significant Control (PSCs) to verify their identity. From 18 November 2025, identity verification will be mandatory for each of these individuals. Why are you being asked to verify your identity? The change forms part of the Government’s Economic Crime and Corporate Transparency […]
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 […]
From 1 January 2026, updates to FRS 102 revenue recognition will introduce key changes to how businesses report income. These updates aim to align UK accounting standards more closely with IFRS 15, ensuring a more consistent, transparent, and principle-based approach to recognising revenue. For businesses, these changes will directly impact how and when revenue is […]
From 1 January 2026, the UK Financial Reporting Council (FRC) is introducing significant changes to FRS 102 lease accounting, aligning it more closely with IFRS 16. These changes will impact how businesses account for leases, particularly for lessees who previously classified leases as operating leases. What’s changing? Currently, leases are classified as either finance leases, […]
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? […]
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