Latest Blogs

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…

13th October 2021 VAT DIY Scheme: HMRC update list of allowable expenses

There has been some controversy on claims made on DIY building schemes. HMRC have updated their guidance on goods and services that can be claimed under the VAT DIY Housebuilders’ Scheme.   The list is extensive and gives an ABC of items that are allowed, from Agas to woodworm treatment – but there’s a catch,…

13th October 2021 Look out! Sage 50cloud Accounts v28 update

From Monday 18th October 2021, clients using Sage50 Accounts will be sent a software update for version 28.   Some of the new features of the software:   New – customisable business dashboard showing you key business information, without the need to run numerous reports New – access the Sage 50cloud Accounts Help Centre directly…

10th October 2021 Where is revenge spending?

As we are hopefully now at the start of the end for Covid related business activity disruption. The accounts of local SME’s are now starting to show part of the damage they have experienced through the lock-downs and associated restrictive measures. The overall effect upon turnover for the year-ends of 2020 has not been as…

8th October 2021 Kickstart Scheme

Kickstart Scheme Did you know there is a grant available from the Government to hire young people for 6-month placements? It provides funding to employers to create jobs for 16- to 24-year-olds on Universal Credit. The Kickstart Scheme covers 100% of National Minimum Wage and offers six-month jobs for 25 hours per week for young…

8th October 2021 Annual Investment Allowance (AIA) – Maximising tax relief

The chance to take advantage of the generous temporary uplift in the AIA annual limit of £1,000,000 is coming to an end when it is due to revert to £200,000 from 1 January 2022.   It is a perfect time to plan to capitalise on claiming 100% tax relief on qualifying purchases without getting caught…

2nd October 2021 Self Assessment late payment penalties

HMRC are now issuing six month late payment penalty notices, as the due date for 2019/20 tax payments was over seven months ago (includes consideration to the additional months extension as a result of the pandemic). Taxpayers facing financial difficulties due to the impact of COVID-19 may have entered into a time to pay arrangement…

1st October 2021 Whitings LLP Conversion

We are pleased to announce that we have today incorporated our practice into a limited liability partnership and shortened our business names from Whiting & Partners/Whiting & Partners Ltd to a unified Whitings LLP. As the world and our practice move forward, we have also modernised our branding. However, some things at Whitings won’t be…

30th September 2021 New Environmental Land Management Scheme

As we move towards the end of the Single Farm Payment and the introduction of the Environmental Land Management Scheme the possibilities for the development of a soil carbon market is attracting attention. Standardisation in the measurement of volumes and permanence of carbon sequestered is badly needed but it is reported that some methods suggest…

26th September 2021 Invitation: Whitings Farming Seminar

We are pleased to announce that our Annual Farming Seminar this year will be held virtually, on 3rd November 2021 at 10.30am.   This is in collaboration with Sebastien Mallet, CEO of ODA UK. Agenda 10-30   Welcome from Chairman, Andrew Band 10-45   Sebastien Mallet, ODA – UK & World grain and oilseeds price perspective for…