Latest blogs for Services

UK Tops World League Table of Business Tax Competitiveness. In Accountant KPMG’s 7th annual survey of where in the world is it best for a business to be based, the UK has scored highly, beating its usual rivals. When businesses were asked to name their top 3 most attractive countries from a tax perspective, the answers ranked: 65% –…

Sage Update Cloud Hosted SageOne. Sage, the market leaders in providing locally and network hosted SME accounting software, launched their first serious cloud hosted variant, SageOne Cashbook, in January 2011. This product, aimed primarily at micro businesses, and costing just £5pm, was a newly written application with very basic functionality. Now, nearly 2 years later,…

We have successfully advised the business owners of an engineering firm on its £1m buy out by the existing management team. Our team were initially approached by the business owners for exit planning advice.

Painless Audits! It is a common misconception that the purpose of an audit is to find errors or fraud within a company’s financial records. However, the real purpose is to give readers of financial statements confidence that they give a true and fair view of the actual trading performance. At Whiting & Partners our approach…

Do I need to register for VAT? This is one of the many questions we hear from clients who have just started in business. The compulsory VAT registration threshold is currently £79,000. If you expect your annual turnover to exceed that threshold quickly, then you are probably best registering on day one. If not, and…

Sage Launch Update to Flagship Sage 50 Accounts Software. Sage have today launched their 20th annual update to their main Sage 50 accounts product; to be known as Sage 50 Accounts 2014. Users who do not automatically update each year will have to make the usual decision of whether or not the new bells and…

Use Lifetime Trusts to Save Inheritance Tax. With the government confirming in the last Budget that the current inheritance tax nil rate band of £325,000 will be frozen until 2018, more and more people will find the taxman taking a sizeable slice of their estate on death. Making gifts during your lifetime is one solution…

The Start of the New Tax Year is the time for OMB’s to revise their Tax Strategy. As another new tax year begins, business owner managers should review and revise their combined business and personal tax strategy: OMB Strategies 2013-14 Depending upon how much profit the business generates, whether or not your spouse is involved in…

The 2013 Budget has some good tax news for SME businesses: The new £2,000 Employment Allowance will help reduce the hidden employment cost that Employer’s NIC has now become. The continual gradual reduction in the main rate of corporation tax towards 20% will also lead to reductions in the marginal rate, which will help the SME’s that…

Most popular current tax strategies for SME businesses: Remuneration ‘Minimum’ salary, balance as dividends, to avoid NIC. Manage income below higher rate tax threshold, to avoid 40% income tax . Manager income below £100k, to avoid 60% income tax trap. Salary sacrifice with employer pension contributions, childcare vouchers and other non-taxable benefits in kind Business…