Latest Blogs

Merry Christmas to all of our wonderful clients, contacts and colleagues! From your Whitings LLP Team The Whitings LLP Team are currently on their festive break after another incredibly busy year, but you can find your local office’s re-opening times by clicking here: 2024 Christmas & New Year Office Hours – Whitings LLP : Whitings…

Businesses and their staff will be looking forward to their annual company Christmas parties in the upcoming festive months. Providing all of the following criteria are met, the annual event is free of PAYE tax and National Insurance contributions (NIC) for the employee, and is treated as a non-taxable benefit in kind:   The party…

Do you know how Inheritance Tax on classic cars works?   To many a car enthusiast, a classic car is priceless and for tax purposes there are some useful exemptions for Capital Gains Tax (CGT) purposes where the car involved is considered to be a wasting asset.   H M Revenue & Customs have confirmed…

Don’t forget the 30th December Self Assessment Deadline!   If you want HMRC to automatically collect tax you owe from your wages and pension, you need to submit your tax return online by 30th December. If so, you are able to pay your Self Assessment bill through your PAYE tax code as long as all…

We share a behind the scenes glimpse into what we discussed at our recent Lunch & Learn with our tax experts!   Training is not only attending events or watching webinars. We make our training practical and share our experiences around the firm through our Lunch and Learn sessions.   Our most recent session starred…

With interest rates still relatively high, but now falling, those individuals and companies with surplus cash should consider a new tool for obtaining the best interest rate, whilst also minimising the admin involved in continually searching for and opening new deposit accounts.  Active Saver Platforms are a new price comparison style website, that allows savers…

Do you know whether Charities should report their cash flows? In this post we cover which charities are required to include a cash flow statement and the benefits of reporting cash flows.   Charities, like many other organisations, need to ensure transparency and accountability in their financial reporting. Per the Charities Statement Of Recommended Practice…

We recently visited the offices of Taylor Rose Solicitors to co-host a Post-Budget Forum at their Peterborough office on 18 November 2024, overlooking the fabulous Ferry Meadows country park.   At the event Nicholas Johnson, Partner at Taylor Rose and I lead the discussions with those in attendance from the local business community, professional advisors…

We ask the question, ‘Post Budget, should your pension planning strategy now change?’   The answer: Perhaps, but maybe not just yet. Here’s why…   A quick recap of the bad news: In recent years, some pension schemes have been increasingly used as a tax planning tool to transfer wealth without an inheritance tax charge,…

Rachel Reeves announced in the 2024 Autumn Budget that pensions will be subject to Inheritance Tax (IHT) from 6 April 2027. Pensions have always been a valuable IHT planning tool, but it seems not any more. However the actual tax charge could be up to 67% on the pension inherited, if not covered by a…