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Having a strong relationship with a bank is crucial for many Charities that depend on the robust controls and support that a bank can provide. In recent years Charities have found it more difficult to open bank accounts particularly with the UK main high street banks, which has added to stresses that Trustees face along…

Have you considered preserving your family wealth?   It is a common occurrence in times of economic uncertainty, most recently the COVID-19 pandemic and the 2008 financial crisis, that asset valuations slump. In recent weeks, there has been widespread concern about the economy and in particular the housing market, with the volume of transactions and…

News broke on 8th November regarding the long-awaited results of HMRC’s consultation on holiday pay and entitlement for employed workers.   In 2011, in order to come in line with the Working Time Directive, HMRC deemed that the 12.07% accrual method for calculating holiday pay was unlawful. This led to several employee tribunal cases with…

It’s one of our favourite days of the year… That’s right it’s International Accounting Day!   This International Accounting Day we want to share with you the opportunities that are currently available at Whitings LLP, so that you too can find a job you love in Accounting.   In addition to joining a friendly team,…

Trustees’ Week 2023 At Whitings LLP we have many trustee contacts that play such a vital role in the charities we act for.   Charities have a huge impact on society and we act for many that dedicate their time and services to a variety of good causes.   As part of Trustees’ Week we…

As we are a Xero Platinum member, members of the Whitings Team were invited to their office in Milton Keynes where our hosts, Jamie and Claire, could show and explain to us how we can further use Xero and it’s supporting apps to assist our clients in their business journeys.   A Bit About Xero…

From 1 April 2023 the rules changed so that the rate of corporation tax that a company pays, and when, is dependent on the level of its profits as well as the number of its associated companies.     Rate Of Corporation Tax Standalone companies from 1 April 2023 with profits exceeding £250,000 will be…

It has been a long established principal that SME companies can avoid publishing all of their financials at Companies House, by filing abbreviated, filleted or abridged accounts instead of full accounts. This enables them to keep details about business turnover, gross margin, profitability and dividends confidential.   However, the Government have just announced plans to…

The deadline for filing a paper Self-Assessment Tax Return (SATR) was midnight on 31st October.   If you were planning on filing your SATR in paper form but missed the deadline, don’t worry as you can still file online.   You’re not alone in filing your return digitally. Here at Whitings almost 100% of our…

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