Latest blogs for Specialisms

DIY Builder VAT Reclaims:  Get the detail right. A recent tax tribunal case highlighted the point of completion of a new build project in relation to DIY builder VAT claims. It noted that it is not necessarily the date on the Certificate of Completion which represents a building project as being finished. The Certificate can…

Although the amount of tax ultimately paid on profits will be the same if you obtain CIS gross payment status, improvements in cashflow and reductions in the cost of credit, such as overdraft interest, should easily make the application process worthwhile. To be eligible to gain CIS gross payment status and receive payments from contractors…

Farming Group Newsletter: Spring 2017. In this edition Whitings farming group look at Brexit, our annual farming seminar, development land, trusts, divorce, machinery leasing, double taxation and tenancies.   Full Newsletter   Blog entry by James Cater.

EIS:  Growth Shares and Preference. Abingdon Health Ltd v HMRC TC05525 This was an interesting case, and a warning for the unwary. The issue at stake was whether HMRC’s withdrawal of EIS relief as a result of a preference created by a new class of growth share was reasonable. The taxpayer company sought EIS relief in respect…

Whitings’ Newsletter: Nov-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: November 2016

Construction Projects: Use of cloud accounting helps with BIM. Are you part of a construction project team? There is increasing publicity being given to the integration of Building Information Modelling (BIM) into construction projects. Since 4 April 2016, any firm wanting to be considered for public sector construction work has to be BIM level 2…

Farm Accounts: Reached the Cloud? As technology has advanced in Agriculture and more bespoke equipment is being used day in day out, is it time for farmers to reach for the cloud? Can farm accounts software meet this challenge…..Yes they can! Over the past few months we have been working closely with Quickbooks Online to…

Farm Diversification: Proceed with caution ! As farmers innovate and squeeze more income streams from their land, care should be exercised to avoid potential capital taxers and VAT traps:

• Article in British Farmer & Grower Magazine

Farming: Summer Update Whitings’ Farming Group looks at BREXIT, Energy Barns, New farm income streams, Entrepreneurs relief, Averaging, Permitted developments, Probate and FRS102.

The options for cloud accounting available to farmers are increasing. Already QuickBooks Online have developed a nominal ledger format and reporting routines for their cloud-based system which facilitate the compilation of gross margin accounts and harvest year results.