My Latest Blogs
27th November 2023
DIY Housebuilders Claims Go Digital: 5 Dec 23
Individuals building their own home can submit their DIY housebuilders VAT refund claim digitally from 5 December 2023. The time limit for such a claim will also been extended to six months after completion of the build. The VAT DIY housebuilders scheme gives DIY homebuilders the ability to reclaim the VAT they pay on building materials…
6th June 2023
VAT Inspections: Beware AI
It always used to be the case that HMRC inspections were decided by a business’s background including size, compliance, complexity etc. Many VAT inspections now, however, are based on information from a data system which HMRC call “Connect”. Instead of HMRC relying on information provided by businesses on VAT returns, Connect draws on statistics from…
22nd November 2022
Probate: Instruct us
Having gained a licence to deal with non-contentious probate in 2015, Whitings LLP continue to undertake more work to assist executors. This ranges from simple probate applications and filing of relevant forms through to administration of estates, acting as executors in some cases. The process starts with preparing and periodically reviewing a Will in…
1st January 2023
1-Jan-23: New VAT penalties system
A new penalty regime came into effect for VAT periods starting on or after 1 January 2023. The changes will impact the charges for missing VAT filing and payment deadlines and will be replacing the current VAT default surcharge system. These changes place continued importance on being up to date with your VAT returns, aware…
19th October 2021
VAT Registration
A business must compulsorily register for VAT if taxable 12 month turnover exceeds £85,000. They can voluntarily register for VAT as soon as they start trading, providing they expect to make taxable supplies in the future. Businesses that provide to other businesses may choose to register for VAT voluntarily before the registration threshold is…
26th June 2020
Delaying Import duty and VAT
HMRC have implemented measures to assist businesses that are registered importers who pay VAT and Duty at the time of import and are facing financial difficulties as a direct result of Coronavirus. What to do if you’re a Duty deferment account holder You can contact HMRC for approval to enter into an extended…
22nd May 2020
Dividend update
It is common practice for director/shareholders to be paid a modest salary through PAYE and pay the balance of their remuneration in dividends. This of course is perfectly permissible if the company has profits available to distribute to shareholders and there is no breach of directors’ duty. Unfortunately, the dramatic effect that the Coronavirus is…
2nd April 2020
Tax Planning for COVID-19 – A Brief Guide
Our Tax Department has written ‘A Brief Guide to Tax Planning for COVID-19’ please click the link below: Tax planning for COVID-19 Brief Guide
15th July 2019
Company car tax changes – Government will remove BIK company car tax on Electric Vehicles from 2020/21
The government has provided positive news for Company car drivers announcing that a pure electric vehicle (EV) will no longer pay benefit-in-kind (BIK) tax in 2020/21 following a review which looks set to boost sales of emissions-free cars. HM Treasury’s response to its review of the fallout from the roll-out of the Worldwide Harmonised Light…
5th April 2018
Reclaiming VAT: Checking the validity of your supplier invoices.
VAT registered businesses will be aware that they can only reclaim VAT on business purchases if they have a valid VAT invoice. For supplies over £250, this invoice should disclose: Supplier: sales invoice unique sequential invoice number, name, address and VAT number. Date and tax point, if different Your name and address Description…