Latest blogs for Services

The government is to push ahead with plans to change the fees for applying for probate, which will see many executors faced with funding significantly higher fees in order to obtain probate to enable them to administer the estate. The changes, which are planned to come in from next April, will see the introduction of…

The government has announced an increase in the Annual Investment Allowance (AIA) to £1 million in relation to qualifying expenditure incurred from 1 January 2019. Since 1 January 2016 the AIA limit has been £200,000.  It may be worth deferring planned significant capital expenditure as, I am sure you will agree, the additional £800,000 relief…

National Minimum Wage is set to increase from April 2019: £8.21 per hour for ages 25 and over £7.70 per hour for ages 21 to 24 £6.15 per hour for ages 18 to 20 £4.35 per hour for ages under 18 Apprentices are increasing to £3.90 per hour  Tax Allowances increase from April 2019: Personal…

The Autumn Budget 2018 confirmed that many private sector contractors will no longer be responsible for deciding if they are caught by the IR35 rules. Engagers who are medium or large organisations will now decide the IR35 status of the PSCs they contract with. What will constitute a medium or large organisation? It is not…

Philip Hammond’s much predicted ‘End to Austerity’ Budget was a lot more positive than similar pronouncements of recent years. Although UK growth is still sluggish (predicted at 1.6% for 2018), higher than expected tax revenues have enabled the public purse strings to be loosened. Announcements that will be of interest to technology SME’s include: New…

No audit sets out to conclude with total confidence that a set of financial statements are 100% free from any misstatement. To do so would belie the technological reality and scale of modern business; auditors would likely become a permanent fixture at client premises to review every single business transaction and audit would become an…

Ely Office start up seminar is being held on 20th November https://www.whitingsllp.co.uk/booking-now-open-for-start-up-seminars/. A chance to gain free advice on the complexities of starting in business from Whiting and Partners and Guest Speakers from local solicitors Fraser Dawbarns talking about partnership and shareholder agreements, leases on new premises and employment law for taking on new staff.…

Technological advances in the ways that data is captured, processed, stored and communicated continually change the ways in which we do business. In the context of auditing, data analytics concerns the process of extracting, transforming, validating and analysing large volumes of data to make judgements and form conclusions. The way we approach auditing must change…

If you are looking to start up a business, it is likely to be home based, at least in the early days.  Figures suggest that over 60% of businesses start in this way and that there are 2.9m businesses in the UK operating from home. This blog looks at some of the common questions regarding working from home. Do I…

Reference to VAT Notices 700/21, 700/22 and 731 suggests that a business using Cash Accounting for VAT under Making Tax Digital will be required to:- Maintain digital accounting records at transaction level: Keep a digital VAT account using Accrual accounting; Cross reference Monies Received and Paid against individual Sales and Purchase invoices within their digital…