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Last reminder for 31st July 2026 2nd Payment on Account for Self Assessment   The forthcoming Self Assessment payment date of 31st July 2026 is just over a month away. HMRC last increased the late payment interest rate to 7.75% on 28th May 2026 and this applies to the tax becoming due at the end of…

On Monday 15th June, HMRC announced that, once again, there is a delay in the wholesale mandatory implementation of payrolling benefits. Instead, we will see a phased-in approach beginning April 2027. Some will see this as a sensible move giving more time for software providers to prepare the necessary digital fields within the payroll software…

The Head of Charity at the Institute of Chartered Accountants in England and Wales issued a warning to small charities in June 2026. She advised size is no excuse for non-compliance, reminding trustees that small charities are held to the same standards as large charities.   Small charities are irreplaceable in a modern society, particularly…

With Making Tax Digital for Income Tax (MTD for IT) first quarter ending on 30th June 2026 and your first filing deadline being 7th August 2026, many sole traders and landlords are wondering what this will mean for them and how they can prepare without adding more stress. The good news is that with a…

What Personal Representatives Need to Know from April 2027 Significant changes to the inheritance tax (IHT) treatment of pensions are due to take effect from 6 April 2027. For personal representatives, these reforms will introduce new responsibilities and could make estate administration more complex.     Changes from April 2027 Currently, the value of most…

Planning, Change and Discovery As I write this in late April, and you read it probably in June, last Christmas may feel like a dim and distant memory, but I invite you to cast your minds back. I remember receiving an email in my inbox from the CLA before the news even broke on mainstream…

Recent legislative changes are set to significantly reshape retirement income drawdown planning and Inheritance Tax (IHT) mitigation strategies. From April 2027, most unused pension funds and death benefits will form part of an individual’s estate for IHT purposes.   Under current rules, pension death benefits (including unused funds) typically fall outside the estate, with income…

Value Added Tax (VAT) plays a unique role in the agricultural sector. As most food products e.g. milk, livestock, eggs, and crops are zero-rated, farmers are often net VAT reclaimers, regularly recovering more VAT on their expenses than they charge on sales. Understanding how to navigate this system is essential for financial stability and compliance.…

Recently, the Whitings LLP Farming Group spent a day away from the office out on the farm at Shimpling Park Farms Limited. We were welcomed with open arms on the day to a wonderful setting for our biannual meeting, courtesy of Alice Pawsey and her wonderful catering staff. We spent the morning learning about the…

For any Companies preparing accounts under Accounting Standard FRS102 (including the provisions of section 1a) changes are coming for accounting periods beginning on or after 1st January 2026 in respect of operating lease recognition. This only impacts Companies, and only those using FRS102, not those using FRS105 for micro entities.   The changes require company…