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DemCom win 2024 Ely SME Business Awards

Last night saw the gala awards presentation evening for the 2024 SME Ely Business Awards.   Local businesses were eligible to enter 16 categories, to celebrate excellence and success within the Ely business community. Whitings have been headline sponsors of the event since 2017 and the leadership team from our Ely office dressed for the…

Don’t get de-banked!

Why do businesses get de-banked?   MP’s on the Treasury Committee have recently looked at an issue that has been creeping up on some SME’s recently and causing real problems – where your bank shuts your account without your instruction and without warning.   The committee have discovered that this has occurred 130,000 times over…

Issue 5 of our Property Matters Newsletter

Issue 5 of our Property Matters Newsletter is one which has been influenced by the March Spring Budget, during which there was an announcement in relation to the treatment of Furnished Holiday Lettings, and my colleague Harriet Sim has provided her views on the changes that are to be made. Daniel Walker also covers what…

6 Reasons to submit your Tax Return early

Now that the 5th April 2024 has passed, many self-assessment taxpayers will be turning their attention to preparing and submitting their self-assessment personal tax returns for the 2023/24 tax year, which covers the tax year ended 5th April 2024, but what are the reasons for choosing to submit your tax return early?   Although the filing…

Buy To Let through a Limited Company

There continues to be an ongoing debate when buying a residential property to let out about whether to buy this personally or set up a limited company to own it. Unlike our sole trader v limited company comparisons for a trading business there is not a clear division based on profits. There are a lot…

Do you need to re-register for Child Benefits?

If you’ve heard about the changes post 5 April 2024 and are wondering whether you need to re-register for Child Benefits, this is the blog post for you.   If you have been affected by the increase in the High Income Child Benefit Charge cap to £60,000, then you may need to restart your Child…

UK company size thresholds are set to increase

UK company size thresholds are set to increase, but what does this change for you?   In his recent economic speech on 18th March 2024, Rishi Sunak unveiled significant changes aimed at simplifying reporting requirements for businesses. Among these measures, he announced an increase in the thresholds used to determine company size.   Understanding Company…

A further cut in employee NI

A further cut in employee National Insurance (NI).   Following rapidly on the heels of the 2% cut in employee National Insurance Contributions, the chancellor announced a second 2% cut to come into effect at the start of the new tax year. This means that a monthly paid employee earning £30,000 per year will see…

Changes to Advisory Fuel Rates

Changes to Advisory Fuel Rates – With effect from 1 March 2024, although previous rates can still be used for up to one month after the 1 March. However, the volatility of the price of fuel on the world markets can mean that these rates are already outdated. It is advised to keep monitoring the…

Student Loan Thresholds 2024-25

For the 24-25 tax year there will be 5 different student loan deduction rates. However, Plan 5 does not become due for payment until the 2026-27 tax year so can be discounted for now. The new rates show no change for Plan 2 and 3, but the thresholds for Plan 1 and 4 have been…