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In April 2022 we saw Employee’s National Insurance Contributions increase by 1.25% from 12% to 13.25%, as part of the Governments Health and Social Care levy. Employer’s National insurance also increased from 13.8% to 15%. From April 2023, the health and social care levy will be paid separately to National Insurance and become a tax…

We are seeing more and more cases of individuals missing out on claiming higher rate tax relief on their employee pension contributions especially where they are not in self-assessment and required to file tax returns.   Where employers have enrolled their staff to make employees pension contributions via a ‘relief at source’ scheme, the contributions…

A new penalty regime came into effect for VAT periods starting on or after 1 January 2023. The changes will impact the charges for missing VAT filing and payment deadlines and will be replacing the current VAT default surcharge system. These changes place continued importance on being up to date with your VAT returns, aware…

HMRC Changes to the National Insurance contributions for 2022-2023 tax year, are you confused? Due to the COVID-19 strain on the NHS, the government announced that they would be increasing the National Insurance contributions by 1.25% as a means to increase spending on health and social care. The Health and Social Care Levy was applied…

Time is running out for taxpayers to settle any second payment-on-account for the 2021/22 tax year. The payment is due by 31 July, where one is payable. The amount payable is the second payment-on-account for the 2021/22 tax year and is automatically calculated as half of the total tax liability for the previous tax year,…

We work hard to improve our lot and most of us hope that our loved ones will reap some benefit from our endeavours. But assuming that we don’t manage to spend all the fruits of our labours, the taxman is lurking. And he will take a sizeable chunk if we don’t plan sensibly.   The…

Back in March 2022, DEFRA quietly published new regulation affecting users of plant protection products (PPPs). All businesses, organisations or sole traders that use professional PPPs (sprays to you and I) need to register to comply with the new regulations by 22nd June 2022. This applies to all farmers, contractors, estates, landlords who use contractors,…

Understanding how to account for your business’s transactions with online selling platforms can be complicated. Ensuring that you are submitting the correct information to HMRC can be tricky as not all platforms have the same VAT treatment.   A2X could make your life easier by saving you time and headaches from the complex world of…

Mergers & acquisitions (M&A) are at a high – a recent survey found that 66% of UK CEOs expect to pursue transactions in the next 12 months. Our corporate finance team can assist with both acquisitions and disposals of your business, including marketing and due diligence.   In this blog we explore the possibility of…

Summary of tax rates, allowances, etc, for the new tax year, as announced by Chancellor of the Exchequer Rishi Sunak MP, plus a brief commentary from our tax group: Whitings LLP tax card 2022