Surrey-based accountancy firm TWP is urging business owners to urgently review their payroll budgets and financial strategies ahead of significant changes to Employers’ National Insurance (NI) contributions, set to take effect from April 2025. From April, the Employers’ NI rate will increase from 13.8 per cent to 15 per cent, while the threshold at which […]

Surrey-based accountancy firm TWP has urged business owners looking to sell their business to act quickly ahead of the changes announced by Rachel Reeves. In October it was revealed that the rates for Business Asset Disposal Relief (BADR) will gradually increase, reaching 14 per cent in April 2025 and matching the main lower Capital Gains […]

Surrey-based accountancy firm, TWP, has warned that sweeping fiscal changes announced by Chancellor Rachel Reeves will hit SMEs and business owners hard as the Government seeks to plug a ‘£22 billion black hole’ in the public purse. In one of the most hotly anticipated Autumn Budgets in recent years, the Chancellor announced the Government’s plan […]

Surrey-based accountancy firm, TWP, has issued a warning to those seeking to minimise Inheritance Tax (IHT) liabilities by gifting or passing on wealth. As the 2024 Autumn Budget approaches, tax on wealth looks set to be a priority, with IHT high on the list of potential tax rises – which could pull more estates into […]

Surrey-based accountancy firm, TWP, has cautioned workers over the potential tax implications of the rise in flexible working – as almost two-thirds of people now occupy a flexible or partially flexible role. The challenge, said the firm, lies partially in the fact that ‘flexible’ encompasses a wide range of working arrangements which may have vastly […]

Weybridge-based accountancy firm, TWP Accounting, has urged employers to keep an eye out for upcoming changes to benefit reporting for tax purposes, set to come into effect in April 2026. Employers offering taxable benefits – benefits-in-kind (BIKs) – to employees will need to report these to HM Revenue & Customs (HMRC) for tax purposes via […]

Leading Surrey accountancy firm, TWP, has urged business owners and employers to stay informed on new rules around the reporting of employee benefits, to avoid penalties for being caught short-changed. Employers that choose to offer certain benefits to staff may be muddying the National Insurance waters, says the firm, if perks are classed as benefits […]

Surrey-based accountancy firm TWP has urged employers to prioritise compliance and seek support if they need it in the face of new payroll regulations coming into force from the start of the 2024/25 financial year. “Compliance is key” was the message delivered by the firm, which provides a full range of personal and commercial accounting […]

Surrey-based accountancy firm TWP has issued a word of warning to SMEs and independent businesses as the payroll tide turns once more – with a wave of new regulations set to come into force between April and July 2024. Most critical, said the firm, is the rising rates of National Minimum Wage and National Living […]

Following Chancellor Jeremy Hunt’s Spring Budget, Surrey-based accountancy firm, TWP cautions that Mr Hunt has targeted individuals with tax cuts at the expense of small businesses. Outlining his ‘Budget for long-term growth’, the Chancellor placed a heavy emphasis on relieving the financial burden on families and working individuals following a period of high living costs […]