Latest Blogs

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…

Whilst one of the main talking points from the recent Autumn Budget was the increased National Insurance burden for employers, has one change gone under the radar?   Key Changes in the Budget Employers’ National Insurance Increase: The rate has risen from 13.8% to 15%, and the threshold at which National Insurance contributions apply has…

As the festive season is well and truly upon us, please find below our 2024 Christmas & New Year Office Hours:   Bury St. Edmunds Closed from: 5.30pm 20th December 2024. Re-opens at: 9.00am 2nd January 2025.   Mildenhall Closed from: 5.30pm 24th December 2024. Re-opens at: 9.00am 2nd January 2025.   Ely Closed from:…

Merry Christmas to all of our wonderful clients, contacts and colleagues! From your Whitings LLP Team The Whitings LLP Team are currently on their festive break after another incredibly busy year, but you can find your local office’s re-opening times by clicking here: 2024 Christmas & New Year Office Hours – Whitings LLP : Whitings…

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

Do you know how Inheritance Tax on classic cars works?   To many a car enthusiast, a classic car is priceless and for tax purposes there are some useful exemptions for Capital Gains Tax (CGT) purposes where the car involved is considered to be a wasting asset.   H M Revenue & Customs have confirmed…

Don’t forget the 30th December Self Assessment Deadline!   If you want HMRC to automatically collect tax you owe from your wages and pension, you need to submit your tax return online by 30th December. If so, you are able to pay your Self Assessment bill through your PAYE tax code as long as all…