Latest Blogs

Ahead of the recent Budget, many feared significant changes; but in reality, only minor adjustments were made. Here’s what stayed the same, what’s new, and what you should be planning for now.   The bad news was that the Inheritance Tax (IHT) thresholds were frozen until 2031, these are: Nil Rate Band: £325,000 Residence Nil…

In the 2025 Autumn Budget, the government confirmed that taxpayers using profit averaging, such as farmers and creatives, will not be required to enter MTD for Income Tax Self Assessment (MTD for ITSA) in April 2026. Instead, this group has been pushed back to April 2027, giving these businesses additional time before digital quarterly reporting…

We recently visited the offices of Taylor Rose to co-host the 2025 Post-Budget Forum at their Peterborough office on 3 December 2025, overlooking the fabulous Ferry Meadows country park.   At the event Nicholas Johnson, Partner at Taylor Rose and I led the discussions with those in attendance from the local business community, professional advisors…

This year’s Budget included some big tax headlines, but there were also a few quieter changes that matter if you’re getting ready for Making Tax Digital (MTD) for Income Tax. Here’s a quick, no-jargon update on what’s changed and what it means for you.   1 – No Penalties for Late Quarterly Updates in 2026/27…

Away from the main announcements, hidden in the small print of Rachel Reeves’ Budget 2025 documents are plans to make significant changes to the way self-assessment tax payments will be collected.   Under the new proposals, HMRC aims to adjust the timing of tax payments. These changes are intended to make the system more efficient,…

Updated: 22/12/25 Unfortunately it is the time of year that we must remind everyone to beware of Self Assessment scams. HMRC have provided guidance with examples of phishing emails, suspicious phone calls and texts that you may receive. Click here to find out more.   Please don’t fall for these!   HMRC will not email,…

Click here to read the full Whitings 2025 Budget Analysis and Commentary   The focus of Budget 2025 has been upon the ever-expanding financial black hole and the methods that should be employed to fill this, but at the same time ensuring that the government’s pledge of maintaining and enhancing public services continues.   What…

Click here to read the full Whitings 2025 Budget Analysis and Commentary Budget 2025: What the New Tax Measures Mean for Individuals & Families The 2025 Autumn Budget brings a wide range of tax changes that will affect many households over the next few years, despite the Labour party manifesto promising “not to increase taxes…

Click here to read the full Whitings 2025 Budget Analysis and Commentary   Speculation about what Rachel Reeves would announce in this year’s budget reached fever pitch over the last few months, with many people taking action based on this speculation, rather than fact. This made advice and planning with any certainty obviously very difficult.…

From April 2026, Making Tax Digital for Income Tax (MTD for IT) becomes mandatory for self-employed individuals and landlords earning over £50,000 in qualifying income. If you fall into this category, start preparing now, digital record-keeping and quarterly submissions are on the way.   What is Qualifying Income? Qualifying income is the gross income you…