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Landlords currently using self-assessment will be required to switch to using Making Tax Digital for Income Tax Self-Assessment (MTD for ITSA for short) and applies to all landlords whose total property income is in excess of £10,000 per year, including: • Rental income from UK rental properties   • Other UK property income such as…

The range and location of Whitings LLP clients is vast, and the specialist staff possess and equally vast level of experience, knowledge and expertise. There is, however, one thing each of us has in common, and that is property.   It is hoped that we will provide you with a diverse selection of articles which…

As we head into the festive period, we would like to share our Christmas closing and New Year re-opening times with you all for each of our offices:   Bury St. Edmunds Closed from 5.30pm on Friday 23rd December 2022 Re-opens at 9am on Tuesday 3rd January 2023.   Mildenhall Closed from 5.30pm on Friday…

In a society already dominated by red tape two new registers have been created to assail us. The Register of Trusts, when announced, did not seem unduly onerous. As the requirements have become clearer we are left pondering where trusts may exist that are not immediately obvious.   Of particular relevance to agriculture, land may…

Incorporated businesses have until 31 March 2023 to claim 130% capital allowances on expenditure on certain fixed assets. This ‘super deduction’ was introduced in April 2021 to help companies continue to invest in plant and machinery after the pandemic.   Assets must be purchased new to benefit from the relief and it does not apply…

The Whitings Team are having a well deserved break after another busy year, but our re-opening times for each office can be found by clicking here.    We hope that you all have a wonderful festive break. Merry Christmas from the Whitings Team!

With the rising costs of energy affecting both homeowners and businesses, many are looking to renewable forms of energy to reduce their costs. Harvesting solar power with solar panels is one alternative. Sites can range from the roof of your house to hundreds of acres of rural land.   Grants are available for homeowners to…

When dealing with agricultural tenancies SDLT – Stamp Duty Land Tax can be a complex issue. On completion in England of a farm business tenancy – FBT – it’s important to establish whether an SDLT return needs to be submitted, whether it is payable and if so, how much.   For a fixed term FBT,…

The Food & Drinks Sector Council’s latest report on increased productivity and sustainability in the agricultural sector calls on farmers to challenge their status quo against what they want to do and what they want to achieve.   Highlighting the numerous challenges faced on an almost daily basis, it focuses on maintaining farming profitability to…

Applications for the Sustainable Farming Incentive (SFI) opened in June and will remain open year-round so that farmers can apply when it suits them. Interestingly, this will mean that individual farmers and landowners all have differing agreement start dates, unlike the old BPS scheme.   Based on DEFRA’s guidance, once an application has been submitted…