Latest Blogs

Do you have a 31st January 2025 payment on account liability still to pay? Do you know whether you can reduce your 31st January tax payment?   If you are still due to make your 31st January 2025 tax liability payment then there are several payment methods you can use, these are all available to…

They say that time passes quicker as you get older. Speaking from experience I can wholly endorse this saying.   In March 2024, HMRC confirmed that it will be compulsory for all benefits to be payrolled from April 2026. At the time of the announcement there was still an issue concerning preferential loans and accommodation.…

When it comes to running a subsidiary company in the UK, understanding the audit requirements is crucial. While some companies may qualify for audit exemption, many UK subsidiaries still find themselves needing an audit. Here’s why:-   Legal Requirements Under the Companies Act 2006, most UK companies are required to have their annual accounts audited…

We discuss the last 80 years of PAYE, including what happened before, its introduction and what has happened since.   In April 1944 HMRC, formally known as the Inland Revenue sought to simplify the way workers would pay their taxes with the introduction of Pay As You Earn or PAYE.   What Happened Before PAYE?…

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, text…

Do you have a plan to deal with the April National Insurance Contribution (NIC) increases?   Since Rachel Reeve’s first Budget last October, businesses that employ staff have been worrying over what they should do about the NIC increases being introduced WEF 6 April 2025: Employer’s NIC rate increasing from 13.8% to 15%. The secondary…

Wondering whether there is tax on selling that unwanted jumper from Granny? HMRC continue their focus on targeting areas where they believe more tax can be collected. Their latest campaign is looking at individuals who sell a high value of unwanted items online and checking that such activities are disclosed and taxed as a trade,…

The regulations which prescribe the required content in a Charity’s annual return were updated on 20 December and come into force for annual returns filed in relation to accounting year ends of 1 January 2025 and thereafter.   All charities registered with the Charity Commission must file an annual return, but the size of the…

Happy New Year from the Whitings LLP Team! As we welcome in the New Year, we would like to thank you for your loyalty and support in 2024 and we are excited to continue working with you in 2025.   Wishing you a prosperous and joyful New Year! Can’t Wait To See Us? Click here…

Following my post back in October 2024 which reported on the government’s commitment to follow through on plans to increase company size thresholds, we now have the legislation confirming the audit threshold changes and when they will be implemented.   What are the changes? For financial years beginning on or after 6 April 2025, thresholds…