Latest blogs for Services

With the reduction in employees National Insurance (NI) through the Autumn Statement, to 10% and the drop in the dividend allowance to only £500 from April 2024. Alongside the previously announced rise in Corporation Tax rates. The question directors will ask again is, am I better paying myself a higher salary rather than dividends?  …

Are you wondering how the Autumn Statement effects Private Tax Clients?   This year’s Autumn Statement arrived at a time when both businesses and individuals alike are well and truly feeling the squeeze. With the performance of the economy better than expected this year (according to the Office for Budget Responsibility), but expected to grow…

We all saw the Autumn Statement on 22 November, but the question is, what’s in it for businesses?   This years three words were unsurprisingly Reduce, Cut and Reward, so with inflation reduced, taxes have been cut and there are rewards to hard work.     National Insurance The biggest headlines relate to National Insurance…

Have you considered preserving your family wealth?   It is a common occurrence in times of economic uncertainty, most recently the COVID-19 pandemic and the 2008 financial crisis, that asset valuations slump. In recent weeks, there has been widespread concern about the economy and in particular the housing market, with the volume of transactions and…

News broke on 8th November regarding the long-awaited results of HMRC’s consultation on holiday pay and entitlement for employed workers.   In 2011, in order to come in line with the Working Time Directive, HMRC deemed that the 12.07% accrual method for calculating holiday pay was unlawful. This led to several employee tribunal cases with…

As we are a Xero Platinum member, members of the Whitings Team were invited to their office in Milton Keynes where our hosts, Jamie and Claire, could show and explain to us how we can further use Xero and it’s supporting apps to assist our clients in their business journeys.   A Bit About Xero…

From 1 April 2023 the rules changed so that the rate of corporation tax that a company pays, and when, is dependent on the level of its profits as well as the number of its associated companies.     Rate Of Corporation Tax Standalone companies from 1 April 2023 with profits exceeding £250,000 will be…

The deadline for filing a paper Self-Assessment Tax Return (SATR) was midnight on 31st October.   If you were planning on filing your SATR in paper form but missed the deadline, don’t worry as you can still file online.   You’re not alone in filing your return digitally. Here at Whitings almost 100% of our…

Businesses and their staff will be looking forward to their annual Christmas party in the upcoming festive months. Providing all of the following criteria are met, the annual event becomes free of PAYE tax and National Insurance contributions for the employee, and is treated as a non-taxable benefit in kind:   The party or similar…

Once clients have built up a successful business, their focus will naturally evolve from business development to protecting the valuable they have buily up from the risks associated with running a business.