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From 6th April 2022 (relevant to 2022/23 tax year) Class 2 voluntary NIC does not have to be paid if taxable profits exceed the Class 2 NIC Small Profits Threshold of £6,725, but do not exceed the Class 4 NIC Lower profits Limit of £11,908.   If your total taxable profit sits in between these…

The Whitings Team have been celebrating the #Coronation this week with scones, jam, cream and strawberries. The question is how will you be celebrating the Coronation today? 👑 #WhitingsLLP #Celebrations #Team

Plan and reflect or reflect and plan? The first few months of the year generally allow for a reflection on the previous year and then planning ahead for the current year, however planning ahead this year looks like it could be even more difficult than normal.   House prices are growing, albeit slowly, mortgage rates…

Colleagues arrived at work this morning to find a surprise seasonal gift from the partners.    

We are extremely proud to have been headline sponsors for this years’ Fenland Business Awards which was hosted at the Braza Club in March. The event was a celebration of the successes of individuals and businesses operating in the Fenland region, ranging from apprentices and charitable organisations through to large and well established companies.  …

🏃‍♂️🏃‍♀️ Congratulations to our team of runners from the Ely office who recently participated in the annual Chariots of Fire race around #Cambridge colleges. Each member of the team of 6 ran the same 1.7 mile route, before handing over the baton to a colleague… …Now that’s #TeamWork! We are pleased to say that we have supported this…

We’re proud to have been Junior Open Tee sponsors today at Thetford Golf Club! ⛳ We hope you have all had the best time! 🏌️ It’s always fantastic to see the talent in our local area. Well done to all involved from the Whitings Team

Maximising future entitlement to State Pension may not be at the forefront of people’s minds, but following the introduction of the new State Pension in 2016, the ability to pay voluntary National Insurance contributions to ‘fill’ gaps will become far more limited from July. Initially this deadline was set at 5 April (2023), but it…

From 1 April 2023 there are a few changes to the ‘super-generous’ R&D tax relief rules: The Research and Development Expenditure Credit (RDEC) rate will increase from 13% to 20%, The SME additional deduction will decrease from 130% to 86% and the SME tax credit (surrender) rate will decrease from 14.5% to 10%. Additional costs…

In order to qualify for a full State Pension at retirement age you need to have paid 35 years’ worth of National Insurance Contributions.   If you are Self Employed you usually achieve this by paying Class 2 and Class 4 National Insurance when your profits are more than £11,908 a year. If your profits,…