Latest Private Client Tax

As we continually move from the analogue to the digital age, approving business documents by e-signature is becoming evermore common place. In response to this, The Law Society have just issued an updated practice note. This practice note sets the scene by recognising that e-signatures can be in various forms: name typed on a document…

As a new year begins we get closer to the Self-Assessment Tax Return deadline of 31 January 2023.   A majority of returns are now filed on-line but statistics continue to show that many are still left to the last minute to file. Filing earlier means you can avoid any last minute issues with information,…

On 17 November the chancellor made his autumn statement and made a number of changes to the UK tax systems. Please take the time to read our summary of the changes announced and their impact via the link below.   Autumn Statement Summary   If you have any questions, or concerns, over these changes please…

Having gained a  licence to deal with non-contentious probate in 2015, Whitings LLP continue to undertake more work to assist executors. This ranges from simple probate applications and filing of relevant forms through to administration of estates, acting as executors in some cases.   The process starts with preparing and periodically reviewing a Will in…

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…

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…

If you were interested in offering your employees the Cycle to Work Scheme, there are three main methods you could use:   Salary Sacrifice Loan Pooled cycles   Method 1: Salary Sacrifice Under this method, your employee would be agreeing to sacrificing part of their salary before tax and you would provide the hire of…

HMRC will raise interest rates on tax debt from 11 October following the 0.5% increase in the base rate.   This means that the late payment interest rate will increase to 4.75% from 11 October 2022. The rate last increased to 4.25% on 23 August. This is the highest rate since the height of the financial crisis…

Less than 10 days after the government announced their ‘Growth Plan’ (otherwise known as the ‘mini-budget’), the chancellor has announced that the government will not proceed with the proposed plans to cut the 45p tax rate cut which was intended to come into effect from April 2023.   As the government seem to be acting…

The High Income Child Benefit Charge (HICBC) was introduced in 2013 but with rising inflation and wages being pushed up this may mean that you may have to pay a tax charge, known as the ‘High Income Child Benefit Charge’ (HICBC), if you have an individual income over £50,000 and either:   you or your partner…