Latest blogs for Services

In the recent Autumn statement, there was the mention of a further focus on the matter of Research & Development (R&D), whereby this is something that is certainly wanted by the government given its benefits in moving the economy forward in a positive manner.   However, R&D can and does provide businesses with a very…

In the past few months HMRC have been issuing an increased number of ‘One to Many’ nudge letters to individuals who they feel should be completing a self-assessment tax return or have filed an incomplete self-assessment tax return. A “One to Many” letter is HMRC’s way of sending one nudge letter to many clients allowing…

There is one thing that we have all become accustomed to over the last few years and that is when there is ever a government announcement, there is a three-word slogan, and I would say that this time it should be “Hard” “Times” “Ahead”.   We are already aware of the increase in corporation tax,…

There aren’t many things that we can all agree on, but the issues that the current Chancellor is facing are without doubt onerous. He has to stick by previously agreed manifesto promises, whilst trying to squeeze the gap in public finances, tackle a soaring high inflation rate and prevent our economy from falling into recession…

With the Chancellor’s Autumn Statement scheduled for 17 November, a lot of Sunday papers today have pieces on what changes we might expect. With a predicted £50bn hole in the Country’s current annual finances (caused by growth downgrades and higher interest rates on debt repaymemts), any such changes are likely to be material. So what…

What is ATED? Annual tax on enveloped dwellings (ATED) is an annual tax charge payable by companies, partnerships (with at least one corporate partner) and certain collective investment schemes that own UK residential properties exceeding £500,000 in value.   When do I need to value the property? The property needs to be valued on specific…

HMRC have the right to enquire into any type of tax return, with common areas of investigation being self-assessment tax returns, corporation tax returns, PAYE submissions, and VAT returns.   Some enquires are carried out at random, but the majority are selected by way of risk assessment. HMRC have a sophisticated risk assessment computer system,…

Many businesses invest in science and technology research and development to improve their competitiveness. The UK Government encourages companies to develop new processes, products and services, as well as improvements to existing solutions by giving tax relief as a proportion of qualifying R&D expenditure. From April 2023 there are a few changes to the rules:…

Maximising future entitlement to state pension may not be at the forefront of people’s minds, but following the introduction of the new State Pension in 2016, the ability to pay voluntary National Insurance contributions to ‘fill’ gaps will become far more limited from April next year.   You can usually only pay for gaps in…

Whitings Wealth Management is pleased to announce that we have been recognised by Citywire New Model Adviser publication as one of the Top 100 adviser firms in the UK.   Our aim, as it has always been, is to help make your difficult investment, pensions and protection financial decisions a little easier , through support…