Labour introduces harsher penalties for late taxpayers
The Chancellor’s Spring Statement introduced harsher penalties for late taxpayers under Making Tax Digital for Income Tax Self Assessment (MTD for ITSA). […]
Month: April 2025
900,000 sole traders pulled into MTD for ITSA
The Government has confirmed that Making Tax Digital (MTD) for Income Tax will apply to sole traders and landlords earning over £20,000 […]
Too many businesses falling into VAT traps
VAT is complex, and too many businesses are making costly, avoidable mistakes. Even a simple oversight or misunderstanding can lead to penalties, […]
Will Inheritance Tax changes affect your pension from April 2027?
Changes to Inheritance Tax (IHT) on pension pots are coming in April 2027, and while this might seem far away, now is […]
Upcoming Inheritance Tax changes could cost your family thousands, warns TWP
TWP, a leading accountancy firm in Surrey, urges individuals to review their estate plans in light of upcoming changes to Inheritance Tax […]
Spring Statement 2025
On 26 March 2025, Chancellor Rachel Reeves presented her Spring Statement to parliament. Despite a backdrop of low economic growth and increasing […]
Self-assessment
The High-Income Child Benefit Charge (HICBC) You may have to pay the HICBC if your income exceeds £60,000 and child benefit is […]
Employment taxes
Employer National Insurance Contributions (NICs) Please remember that the significant changes to the NICs paid by employers will start to apply from […]
Taxes on capital assets
As we head into 2025/26, it should be remembered that, for most sales of capital assets, CGT will apply at 18% for […]
Business tax matters
Electronic invoicing The government has recently launched a consultation on the possible advantages of e-invoicing, which include productivity enhancements, cashflow acceleration and […]
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