TWP calls on employers to review salaries and benefits
Leading independent accountancy firm TWP has called on employers to investigate their current wage structure and benefits for directors and staff members […]
Month: May 2023
2022/23 employment-related securities returns due by 6 July
The deadline for reporting shares and securities and share options issued to employees during 2022/23 is 6 July 2023. This is the […]
HMRC official rate of interest only 2.25%
HMRC have announced that the official rate of interest will increase from 2% to 2.25% on 6 April 2023. The official rate […]
Should director/shareholders take advantage of this lower rate?
The HMRC rate of interest on beneficial loans looks very attractive compared to the Bank of England Base rate of 4.5% and […]
Should employees reimburse their employer for private fuel?
The table below sets out the HMRC advisory fuel rates that apply from 1 June 2023. These are published quarterly these days […]
Advisory fuel rate for company cars
The table below sets out the HMRC advisory fuel rates from 1 June 2023. These are the suggested reimbursement rates for employees’ […]
Use of HMRC advisory rates for VAT purposes
Where employers reimburse their employees for using their own cars for business journeys the tax – free reimbursement rate continues to be […]
Diary of main tax events June/July 2023
Date What’s Due 01/06 Corporation tax payment for year to 31/8/22 (unless quarterly instalments apply) 19/06 PAYE & NIC deductions, and CIS […]
How much do you know about Inheritance Tax when it comes to gifting?
A common question we are asked at TWP relates to Inheritance Tax (IHT), and more specifically how IHT impacts gifts given by […]
Bank of England raises rates to a 15 year high of 4.5%
Thursday’s Bank of England base rate rise is the 12th rate hike in a row since December of 2021. This continues the […]
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