Latest Tax Planning

Our Tax Department has written ‘A Brief Guide to Tax Planning for COVID-19’ please click the link below:   Tax planning for COVID-19 Brief Guide  

  If you reached state pension age after 6 April 2016 and deferred taking your pension, you will receive a higher weekly amount when you start receiving it. However, if you reached state pension age before 6 April 2016 there is a second option, which is to receive a state pension lump sum rather than…

As we approach the end of another personal tax year (5 April 2020), there are a number of tax planning opportunities for individuals to consider to ensure best use is made of currently available allowances, exemptions and favourable tax rates:   Tax year end planning Brief Guide_Feb 2020   With the 2020 Budget also just…

A successful legal case claiming that grain silos should be treated as plant and machinery for corporation tax purposes – rather than land and buildings – has resulted in a successful tax refund claim by Whitings.   The claim was submitted following precedent set in the legal case, and resulted in a substantial tax refund…

The government has provided positive news for Company car drivers announcing that a pure electric vehicle (EV) will no longer pay benefit-in-kind (BIK) tax in 2020/21 following a review which looks set to boost sales of emissions-free cars. HM Treasury’s response to its review of the fallout from the roll-out of the Worldwide Harmonised Light…

Most individuals who are required to prepare and submit a self-assessment tax return to HM Revenue & Customs in each tax year should now be preparing for their next half-yearly tax payment which is due by July 31.   This tax is the second payment-on-account for the 2018/19 tax year. It is automatically calculated as…

It will probably be apparent to the casual observer, let alone the business owner or high net worth individual, that the tax climate has changed markedly over the last 10 years. As part of the raft of measures to tackle austerity within western developed nations, with the aim of collecting higher tax revenues, governments have…

The property allowance was introduced on 5 April 2017, allowing a flat rate deduction of £1,000 to be claimed against property income, in lieu of keeping detailed records of expenses. This however, raises the question as to whether individuals renting out a joint property are required to make the same claim as one another. In…

Discover how to manage your wealth effectively at our annual event led by our wealth management and tax experts. There will be three presentations followed by a light lunch – a great networking opportunity. Tax planning tips & traps Barbara Nicholas, Tax Partner at Whiting & Partners  Passing on Wealth – How hard can it…

You may wish to consider the implication this could have on your state pension in later life. Following the introduction of the high income child benefit charge in January 2013 many new parents have decided not to make a claim for child benefit as their individual income is well above the threshold to be fully…