My Latest Blogs
1st March 2023
Reducing your Inheritance Tax bill
With levels of inflation and house prices currently being so high, the value of your estate may be increasing exponentially when compared with the value of the long-frozen Nil Rate Band. This could mean more than ever that a portion of your estate may be stolen away through Inheritance Tax at 40% when you pass…
8th August 2022
TRS registrations: This deadline may apply to you
1st September 2022 – This deadline may apply to you! If you hold property or investments on behalf of another person, HMRC may consider this as a reportable trust arrangement. This may mean that you need to register on the Trust Registration Service (TRS) before 1st September 2022. New legislation now in…
7th July 2023
We’re Hiring: Tax Careers at Whitings
With a vacancy now open for a Trainee Tax Technician in our Bury St Edmunds office, we’d like to give you a closer look at the highlights of choosing a career in tax – and also the highlights of choosing Whitings as your employer. Why choose tax? The common misconception with a career in tax…
27th April 2022
Save yourself £10 a day – get your 20-21 tax return filed by 1st May!
If you are yet to submit your tax return for the 2020/21 tax year, you will have been charged with a £100 late filing penalty. If you do not submit your return this side of 1st May, HMRC will charge an additional penalty of £10 per day that the return is late, up to a…
15th March 2022
1-Apr-22: One day left to pay your Self-Assessment tax bill
We are now coming into the final week for self assessment taxpayers to pay outstanding tax liabilities associated with their 2020/21 Tax Returns, without too much additional cost. Anything paid later that 31 January 2022 will, however, incur interest. If the payment is not made by 1st April, taxpayers will be faced with a…
20th October 2021
Minimising Your IHT Exposure
As Benjamin Franklin once said; the only two certainties in life are death and taxes. Although it’s a sombre subject, it is important to put in place the right planning so that when we are hit by one, we can avoid the other. We want to ensure we are able to leave as much of…