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Merry Christmas from Whitings LLP

We would like to wish our wonderful clients a very Merry Christmas from the Whitings LLP Team.   We are currently on our festive break, but you can click here to find your local Whitings office’s re-opening times.    

Christmas & New Year Opening Hours: Whitings LLP

We’re all feeling festive here at Whitings LLP, so what better time to share our Christmas & New Year opening times than now?   Bury St. Edmunds Closed from 5.30pm on Friday 22nd December 2023 Re-opens at 9am on Tuesday 2nd January 2024.   Mildenhall Closed from 5.30pm on Friday 22nd December 2023 Re-opens at…

Property Ownership: How Do You Own Your Property?

Property ownership The way in which jointly held property is owned has tax implications. It will also determine what happens when one of the co-owners passes away.   Joint tenants Where a property is owned as joint tenants, the owners together own all the property equally; together they own the whole rather than each owning…

Selling On Digital Platforms: Don’t Get Caught Out

From January 2024 digital platforms like eBay, Vinted, Etsy and Airbnb will have to collect seller data and send onto HMRC.   Do you sell items on these digital platforms? If you are one of the many who sell on digital platforms such as eBay, Vinted, Airbnb and Etsy then be warned that from 1…

Sole Trader V Limited Company

‘Sole Trader V Limited Company – Which is better for me?’   Minimising the tax paid on profits is a key aim of most SME businesses. The tax benefits of trading through a limited company, as compared to operating as a sole trader or partnership, were attractive as profits grow.   However with the increase…

Minimum Wage up 10% in April 2024: Cost to employers

Let’s discuss the cost to employers of the minimum wage rise April 2024.   During the last Tory Party conference, Prime Minister Rishi Sunak pledged that April 2024 would see the minimum wage increase to at least £11.00 per hour. The actual figure, announced on November 21st, is higher than expected, rising to £11.44 per…

30 December: Self Assessment Deadline!

Don’t forget the 30 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 30 December and if so you are able to pay your Self Assessment bill through your PAYE tax code as long as all these apply:  …

Autumn Statement: The Follow Up

Autumn Statement: The Follow Up   The Chancellor used his 2023 Autumn Statement to ‘go for growth’.  He has used increased tax receipts from better-than-expected economic performance to fund a headline-grabbing 110 growth-promoting measures.  Highlights include making permanent the ‘full expensing’ capital allowance, R&D tax credit reforms and business rates support for small businesses.  …

Making Tax Digital (MTD): A Simplification

Alongside the Autumn Statement, the government has announced the outcome of its ‘Making Tax Digital’ review for small businesses. The outcome of the review has prompted some welcome simplifications and tweaks to the regime that should make it easier for taxpayers to interact with the Making Tax Digital for Income Tax Self-Assessment (MTD ITSA) regime.…

DIY Housebuilders Claims Go Digital: 5 Dec 23

Individuals building their own home can submit their DIY housebuilders VAT refund claim digitally from 5 December 2023. The time limit for such a claim will also been extended to six months after completion of the build.   The VAT DIY housebuilders scheme gives DIY homebuilders the ability to reclaim the VAT they pay on building materials…