Latest blogs for Specialisms

Do you know how Inheritance Tax on classic cars works?   To many a car enthusiast, a classic car is priceless and for tax purposes there are some useful exemptions for Capital Gains Tax (CGT) purposes where the car involved is considered to be a wasting asset.   H M Revenue & Customs have confirmed…

Have you considered SME succession post-Budget?   For many business owners, their preferred exit from the family business is to pass it on to their children, for nil consideration. Particularly if the children work in the business. The recent Budget, however, signalled the Government’s intention to change the Business Relief Inheritance Tax rules w.e.f 6…

We share a behind the scenes glimpse into what we discussed at our recent Lunch & Learn with our tax experts!   Training is not only attending events or watching webinars. We make our training practical and share our experiences around the firm through our Lunch and Learn sessions.   Our most recent session starred…

Do you know whether Charities should report their cash flows? In this post we cover which charities are required to include a cash flow statement and the benefits of reporting cash flows.   Charities, like many other organisations, need to ensure transparency and accountability in their financial reporting. Per the Charities Statement Of Recommended Practice…

We recently visited the offices of Taylor Rose Solicitors to co-host a Post-Budget Forum at their Peterborough office on 18 November 2024, overlooking the fabulous Ferry Meadows country park.   At the event Nicholas Johnson, Partner at Taylor Rose and I lead the discussions with those in attendance from the local business community, professional advisors…

Double Cab Pick Up Trucks Are To Be Treated As Cars The 2024 Autumn Budget has introduced a significant change for Double Cab Pick Up trucks (DCPUs).   Starting from April 2025, DCPUs with a payload of one tonne or more will be treated as company cars for tax purposes. This change will impact both…

Do you know how to protect your charity from cyber crime?   Cyber crime is becoming more frequent in all aspects of life, due to the increased use of technology.   As a Trustee, it is part of your role to ensure that the Charity’s funds are protected, and the resources are managed responsibly.  …

Many people decide to become a trustee to be able to give back to their communities. It is an exciting opportunity to benefit society and make a difference.   Trustees give their time, skills and experience to a good cause. They can also learn new and useful skills in their role too.   Charities in…

In her first Budget, Rachel Reeves moved quickly over two key capital taxes for farmers. Although, I’m sure it won’t have escaped their attention.   Capital Gains Tax (CGT) The rate of CGT paid on the disposal of assets rises from 10% and 20% for basic and higher rate tax payers respectively, to 18% and…

It’s Trustees’ Week! The time of year when we celebrate the amazing contribution made by trustees’ for their charities and recognise the difference they make.   You can find out about this week’s range of events and access free guidance and resources at www.trusteesweek.org   At Whitings LLP we are proud to support many trustees…