Latest Blogs

In 2016 the government launched a trial scheme to payroll benefits. The purpose of this was to make the declaring and paying tax on benefits easier in comparison to submitting annual P11D forms and also to provide HMRC with real time information.   Due to the regulations HMRC put in place at the time, it’s…

Over And Out   This will be the final Agricultural Newsletter produced during my tenure as Chair of our Farming Group and it would not be right if taxation was not considered in at least one contribution. Mike Blackledge provides for this with a review of the consequences of multiple rates of Corporation Tax where…

Could your Self-Assessment Tax be reduced?   For those clients that prepare self-assessment personal tax returns, 31 January is usually tax payment day. This tax will primarily be based on your personal income for the tax year ended 5 April 2023, potentially made up of 2 components:   The balancing payment for 2022/23 (total 2022/23…

Nominations for the Fenland Business Awards 2024 are open!   Whitings LLP are delighted to be the headline sponsor of the Fenland Business Awards for the second consecutive year.   Whitings have served businesses and individuals in the Fenland region since 1928 and as such have been keen to continue to support this event to…

The forthcoming Self Assessment payment date of 31st January 2024 is looming. HMRC last increased the late payment and repayment interest rates on 22nd August 2023 and this applies to the main taxes and duties that HMRC currently charges and pays interest as follows:   Late payment interest rate — 7.75%   Repayment interest rate — 4.25%…

The Chancellor, Jeremy Hunt, has announced that the Spring Budget will take place on Wednesday 6 March 2024. This will be the Chancellor’s second budget and will include the government’s tax and spending plans as well as new growth and borrowing forecasts.   The Spring Budget could be followed by a general election in as…

Entries are open for the 2024 SME Ely Business Awards. We all know the importance of celebrating what we have achieved in business, and the SME Ely Business Awards are just the way to do it.   If you run a SME business based within the Ely area and you have a success story to…

With the 6th March Budget just around the corner, many SME business owners are beginning to wonder what’s in Mr Hunt’s red ministerial box, which got us thinking, ‘what might the SME wish-list look like in the ideal world?’   There are 2 reasons to be a little more optimistic than usual this time around:…

‘How to pay your Self Assessment Tax’ will be a question that many people are asking with the payment deadline of 31st January 2024 just around the corner.   It is important to ensure your payment is made by the 31st January to avoid any late payment interest which HMRC charge daily.     For…

The Whitings LLP Team would like to wish you all a Happy New Year!   Thank you for your continued custom in 2023 and we look forward to working with you in 2024.     Please click here for a list of our re-opening times