Latest Business Support

Why Outsource Your Payroll? As employers approach the new tax year, those who do not have the administrative capabilities or expertise to run a payroll function may wish to consider outsourcing. Payroll outsourcing involves the hiring of an external individual, or company, usually in the form of an accountant/bookkeeper, or via a specialist bureau to…

In the world of small and medium-sized enterprises (SMEs), maintaining robust internal controls is crucial. One of the most effective internal control processes is the Segregation of Duties (SOD). This principle involves dividing responsibilities among different individuals to reduce the risk of errors, fraud, and conflicts of interest.   What is Segregation of Duties? Segregation…

When it comes to running a subsidiary company in the UK, understanding the audit requirements is crucial. While some companies may qualify for audit exemption, many UK subsidiaries still find themselves needing an audit. Here’s why:-   Legal Requirements Under the Companies Act 2006, most UK companies are required to have their annual accounts audited…

Unfortunately it is the time of year that we must remind everyone to beware of Self Assessment scams.   HMRC have provided guidance with examples of phishing emails, suspicious phone calls and texts that you may receive. Click here to find out more.   Please don’t fall for these!   HMRC will not email, text…

We are now able to clearly see how SME clients faired in terms of turnover growth during 2024. As the graph above shows, the average annual growth at 0.4% was lacklustre at best, and well below the Government’s 2.5% target : Within this average were variations between different sectors: Manufacturing               +4.4% Haulage       …

The regulations which prescribe the required content in a Charity’s annual return were updated on 20 December and come into force for annual returns filed in relation to accounting year ends of 1 January 2025 and thereafter.   All charities registered with the Charity Commission must file an annual return, but the size of the…

Happy New Year from the Whitings LLP Team! As we welcome in the New Year, we would like to thank you for your loyalty and support in 2024 and we are excited to continue working with you in 2025.   Wishing you a prosperous and joyful New Year! Can’t Wait To See Us? Click here…

Following my post back in October 2024 which reported on the government’s commitment to follow through on plans to increase company size thresholds, we now have the legislation confirming the audit threshold changes and when they will be implemented.   What are the changes? For financial years beginning on or after 6 April 2025, thresholds…

As the festive season is well and truly upon us, please find below our 2024 Christmas & New Year Office Hours:   Bury St. Edmunds Closed from: 5.30pm 20th December 2024. Re-opens at: 9.00am 2nd January 2025.   Mildenhall Closed from: 5.30pm 24th December 2024. Re-opens at: 9.00am 2nd January 2025.   Ely Closed from:…

Merry Christmas to all of our wonderful clients, contacts and colleagues! From your Whitings LLP Team The Whitings LLP Team are currently on their festive break after another incredibly busy year, but you can find your local office’s re-opening times by clicking here: 2024 Christmas & New Year Office Hours – Whitings LLP : Whitings…