Latest blogs for Services

Sole Trader or Limited Company: Which business structure is best for you? The answer has implications beyond those relating to tax and depends on your situation. This decision has become even more crucial with the change of taxation of dividends from 2016/17 onwards. If you expect profits to exceed approximately £30k pa, it may be…

R&D Tax Relief: Claims rose by 38% in 2014-15. The latest data from HMRC indicates that there has been an increase in both the number of companies making R&D tax relief claims and also that companies are increasing their R&D spend. The fact that there are a significant number of companies making claims for the first time…

Farmplan Cloud Offering: Keeping your data secure. Keeping your data safe and secure is essential for any business, however for many of us we also want to share our data with our consultants, accountants and within the business itself which can pose a problem with the existing systems we have in place. For Farmplan software…

Whitings’ Newsletter: Sep-16 The general practice team at Whitings have produced their latest newsletter, to keep clients updated on relevant recent changes to tax and related legislation: September 2016

Reclaiming Input VAT: Keep proper VAT invoices. A recent Upper Tier tribunal case has reiterated the importance of obtaining and maintaining VAT invoices to support your business transactions. You must keep VAT records for at least 6 years (or 10 years if you use the VAT MOSS service). In the case of Zipvit Ltd Vs…

Matrimonial Trusts: Mesher orders and CGT residence relief. When a marriage breaks down and there are children to consider, the Courts will often provide for a ‘Mesher Order’ – an order of the Court that the former matrimonial home is held on trust to provide a home for the children, typically until the youngest child attains…

Making Tax Digital (MTD) and BREXIT: Calls for more exemptions. The MTD consultation documents issued by HMRC on 15th August included an exemption from the proposals for quarterly digital reporting for small businesses and landlords with income below £10,000. This has prompted calls from interested parties for further concessions including an increase in the exemption…

Taxation of Termination Payments: ‘All change’ HMRC has, for a while now, been trying to find a way around allowing the £30,000 tax free termination payment to employees. This may, in part, be from the knowledge that there have been occasions where some employers have excluded the inclusion of ‘payments in lieu of notice’ (PILON)…

Shared Parental Leave: Could you qualify? Shared parental leave was introduced to give working parents more choice and flexibility in how they care for their children during the first year after their birth or adoption. The new regime means to create a framework that better supports modern working families. Parents can share the 52 weeks’ leave…

Auto-Enrolment: Are you prepared? Auto-enrolment is looming for many small employer’s now, with the next staging date of 1 October 2016 fast approaching. Are you prepared for the complexities that come with Auto-enrolment?  Although many software providers cater for this now, often understanding the legislative details can be a minefield. Through our Ely Payroll department…