Latest blogs for Specialisms

We have known since the March 2024 Budget that the abolition of the beneficial rules relating to Furnished Holiday Lettings (FHL) were to change from April 2025. Now however, we have the draft legislation following its publication on 29 July 2024.   The effect of the changes will mean that for both individuals and companies:…

Are you confused about charity reporting?   We understand, as charity reporting can be confusing due to the varying thresholds for different reporting requirements. Our infographic tool below is a useful visualisation of the various requirements of charities, all depending on the level of gross income in any given year.   Charites working with us…

When it comes to employment benefits and property, Whitings are here to help!   Property is affected by a large variety of direct and indirect taxes, whether that’s Stamp Duty Land Tax (SDLT), Capital Gains Tax (CGT), Income Tax (IT) or Inheritance Tax (IHT). These tax implications can be triggered by the acquisition, disposal, or…

Do you know what happens to property when a loved one dies?   Why Choose Whitings LLP to help with administering the estate? We understand that losing a loved one can be a very difficult and challenging time. It can often be a daunting process for those appointed as personal representatives with the worry and…

Don’t miss the 60 day deadline! It is now well established that taxpayers have 60 days from the date of completion to report a property disposal and pay any Capital Gains Tax (CGT) to HMRC. Those within Self Assessment must also report their disposal on the Capital Gains section of their tax return for the…

What could changes to section 21 no-fault evictions mean for the property sector?   With the new government being elected it is important to see the impact this will have on landlords and tenants. Although Labour have been in power less than a month, one of their main campaign and manifesto points was to immediately…

Have you heard about the new audit exemption thresholds?   Before the recent General Election the Conservatives announced plans to increase the audit exemption thresholds. For the Turnover and Gross Assets thresholds, this increase is significant (50%), effective for accounting periods starting on or after 1 October 2024. For certain growing companies, this presents an…

There continues to be an ongoing debate when buying a residential property to let out about whether to buy this personally or set up a limited company to own it. Unlike our sole trader v limited company comparisons for a trading business there is not a clear division based on profits. There are a lot…

Extended support for Farmers is available through incentives and changes to planning laws.   The government has today published details of the expanded SFI offering for 2024. As expected, the offering now includes actions for precision farming and agroforestry and support for upland farmers, short term tenant Farmers and new entrants. There are now 102…

Last night saw the gala awards presentation evening for the 2024 SME Ely Business Awards.   Local businesses were eligible to enter 16 categories, to celebrate excellence and success within the Ely business community. Whitings have been headline sponsors of the event since 2017 and the leadership team from our Ely office dressed for the…