Businesses and their staff will be looking forward to their annual company Christmas parties in the upcoming festive months. Providing all of the following criteria are met, the annual event is free of PAYE tax and National Insurance contributions (NIC) for the employee, and is treated as a non-taxable benefit in kind: The party…
We share a behind the scenes glimpse into what we discussed at our recent Lunch & Learn with our tax experts! Training is not only attending events or watching webinars. We make our training practical and share our experiences around the firm through our Lunch and Learn sessions. Our most recent session starred…
We recently visited the offices of Taylor Rose Solicitors to co-host a Post-Budget Forum at their Peterborough office on 18 November 2024, overlooking the fabulous Ferry Meadows country park. At the event Nicholas Johnson, Partner at Taylor Rose and I lead the discussions with those in attendance from the local business community, professional advisors…
Rachel Reeves announced in the 2024 Autumn Budget that pensions will be subject to Inheritance Tax (IHT) from 6 April 2027. Pensions have always been a valuable IHT planning tool, but it seems not any more. However the actual tax charge could be up to 67% on the pension inherited, if not covered by a…
From autumn 2025, Companies House will implement mandatory ID checks for directors and persons with significant control (PSCs) of UK companies. This initiative aims to enhance corporate transparency and combat fraud, addressing concerns over the misuse of corporate structures for criminal activities like money laundering. Key Features of the ID Check System Who Will Be…
It’s Trustees’ Week! The time of year when we celebrate the amazing contribution made by trustees’ for their charities and recognise the difference they make. You can find out about this week’s range of events and access free guidance and resources at www.trusteesweek.org At Whitings LLP we are proud to support many trustees…
The countdown has begun as there are only 90 days remaining to file and pay your Self Assessment tax return before the 31st January 2025 deadline. As the deadline for submitting a paper return has passed (31st October 2024), the deadline for submitting an online return is midnight 31st January 2025. You will also…
The Autumn 2024 Budget has been a tough Budget for businesses, but it perhaps hasn’t provided too many surprises given the recent press announcements. Below we share our key takeaways for businesses… Corporation Tax For those Limited Companies, there is confirmation of the main rate of Corporation Tax remaining at 25% for the duration…
Stephen Malkin (Partner, Kings Lynn) and I, Ben Burtenshaw (Manager, St Ives), learnt about scaling with Xero and the options available to rapidly growing SMEs during our recent visit Xero’s offices in Milton Keynes. App partners Mayday and Joiin were both in attendance and gave talks and demos on their software as well as…