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Whitings Wealth Management Ltd

Whitings Wealth Management is pleased to announce that we have been recognised by Citywire New Model Adviser publication as one of the Top 100 adviser firms in the UK.   Our aim, as it has always been, is to help make your difficult investment, pensions and protection financial decisions a little easier , through support…

Government Announce Further Changes

With a different Chancellor in the driving seat once again, we have seen the government announce further changes since their ‘Growth Plan’, which was delivered on 23 September. In a statement on Monday 17 October, the Chancellor announced a reversal of almost all of the tax measures set out in the Growth Plan that have…

Considered using the Cycle to Work Scheme?

If you were interested in offering your employees the Cycle to Work Scheme, there are three main methods you could use:   Salary Sacrifice Loan Pooled cycles   Method 1: Salary Sacrifice Under this method, your employee would be agreeing to sacrificing part of their salary before tax and you would provide the hire of…

How Does My NHS Scheme Pays Election Work?

What is a scheme pays election? Scheme pays is a facility that allows you to ask NHS pensions to pay some or all your annual allowance excess charge. However, by making a scheme pays election you suffer a permanent reduction in the pension benefits that you will receive in retirement. If I make a scheme…

Another tax U-turn: 2023 Corporation tax rise is back

The Prime Minister has announced today that she will reverse her recent mini-Budget plan to scrap next years increase in corporation tax rates. From April 2023, the main rate of corporation tax for companies with profits of £250,000 (assuming no associated companies) or more will be 25%. For those with profits of £50,000 or less the…

SME red tape: Plans to slash ???

From Monday 3 October 2022, the UK government has changed the ‘small’ company threshold, which is expected to remove 40,000 businesses from certain reporting regulations. Since January 2016, a company qualifies as ‘small’ in the year that it does not exceed two or more of the following: Annual turnover:                                   £10.2m Gross Assets:       …

HMRC increases interest on Late Paid tax

HMRC will raise interest rates on tax debt from 11 October following the 0.5% increase in the base rate.   This means that the late payment interest rate will increase to 4.75% from 11 October 2022. The rate last increased to 4.25% on 23 August. This is the highest rate since the height of the financial crisis…

VAT Direct Debits – Cancelled?

Having received a copy of a letter a client has received from HMRC today, it states that due to inactivity on your VAT account your direct debit instruction has expired. If you wish to pay by Direct Debit in the future you will have to complete another Direct Debit instruction, either online or by post.…

New register of overseas entities: Register UK property now

Adding to the plethora of red tape, there is now a requirement for overseas entities (ie a legal entity, such as a company or other organisation, that has legal personality and is governed by the law of a country or territory outside the UK) who own or lease property or land in the United Kingdom…

SME Ely Awards: Congratulations to Austin Macauley Publishers

After winning individual categories, Austin Macauley Publishers were also adjudged the well deserved overall winners of the 2022 SME Ely Business Awards in last night’s awards ceremony held in Ely Maltings. Congratulations from all at Whitings. Whitings have supported this event for 9 consecutive years now, both as headline sponsors and in judging some of…