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Tax Planning: The Levers Under Your Control
In many situations a tax planning review may identify opportunities to minimise the tax you are liable to pay on a transaction or situation. These ’opportunities’ will relate to: 1. Do not make the transaction/action If being reviewed in advance, don’t do something that triggers a tax charge (eg extracting money from a…
Partnerships & Making Tax Digital for Income Tax
Making Tax Digital for Income Tax comes into effect from 26/27 for sole traders and landlords with qualifying income of £50,000 or greater. The table below shows how the threshold will lower in subsequent years: Tax Year MTD for IT Income Threshold 26/27 £50,000 27/28 £30,000 28/29 £20,000 Sole traders and landlords subject to…
Autumn Budget: What Might Change?
Ahead of the upcoming 2025 Autumn Budget, which will take place on Wednesday 26th November 2025, we have been considering what taxes might change. Frozen Tax Allowances The current freeze on income tax allowances, as well as Inheritance Tax nil rate bands, are currently scheduled to end in April 2028. Over time wage…
Bury Free Press West Suffolk Business Awards 2025
Celebrating Local Success The Bury Free Press West Suffolk Business Awards 2025, held at The Apex in Bury St Edmunds on Friday 10th October, was a fantastic evening celebrating the achievements and dedication of the local business community. Whitings LLP were once again proud sponsors of the Contribution to the Community Award, highlighting our…
Tax Investigations Surge: HMRC’s Connect Tool
HMRC’s Connect Tool Raises £4.6bn in Just One Year as Tax Investigations Surge HMRC’s powerful data analysis tool, Connect, has raised an additional £4.6bn in the 2024/25 tax year alone. This translates to a 35% jump on its previous annual average of £3.4bn, according to data released under a Freedom of Information request by Pinsent…
Xero UK Roadshow: Small Business Sessions 2025
On Tuesday 7th October 2025, I attended the 2025 Xero UK Roadshow for accountants and bookkeepers of small businesses, which was held at Tobacco Docks, London. The day started with time to network with other accountants and bookkeepers in attendance and a chance to look around the exhibition and speak to different app partners…
Whitings 2025 Annual Golf Day
The Whitings 2025 Annual Golf Day was held on Friday 26th September at Lakeside Lodge Golf and Country Club in Pidley. Overall, we had 16 players competing for the Whitings Trophy. There were also a wide variety of handicaps, ranging from 4 to 28. The Morning Session The morning session consisted of individual Stableford…
2025 ICAEW Annual Farming Conference
On Thursday 25th September, members of our farming group were deep in thought whilst attending the ICAEW Annual Farming Conference; the theme of the day being ‘Farming in an Uncertain Landscape.’ There were a variety of speakers on the day, and the virtual event provided a wide platform for professionals within the industry to…
Xero Office: Making Tax Digital for Income Tax Event
On Thursday 25th September 2025, Dan Walker (St Neots) and I (Ely) attended the Making Tax Digital for Income Tax event for Strategic Partners. The event was held at the Xero office in Milton Keynes. HMRC were in attendance and provided an update on their readiness and the bumps in the road we have…
Making Tax Digital for Income Tax: When Will It Affect Me?
HMRC are beginning the process of phasing in taxpayers who are self-employed or with income from property over a number of years, so you may be wondering ‘When Will It Affect Me?’. The limits will be calculated from your latest Self Assessment Tax Return so the current tax year ending 5th April 2025! If…
