Latest Topical Tax Planning Ideas

As we approach another 5 April tax year end, we turn our thoughts to tax planning and some of the opportunities to be considered before then.   The list below, and our Tax Planning Guide linked here and at the end, is not exhaustive; however, it is a good starting point.   Pension Contributions Higher…

31st January 2026 Self-Assessment electronic filing & payment deadline The forthcoming Self-Assessment payment & electronic filing deadline of 31st January 2026 is just a few weeks away, in respect of 2024/25 tax returns. This deadline applies to the: Electronic submission of an individual’s, partnership’s, estate’s and/or Trust’s 2024/25 Self-Assessment tax return to HMRC, Payment of 2024/25 (balancing) tax…

A small but potentially significant change in the 2025 Autumn Budget has largely slipped under the radar. HMRC have tightened the anti-avoidance rules for share exchanges and company reconstructions, expanding its ability to challenge transactions that would previously have been treated as tax neutral. Although the update may appear minor at first glance, it could…

Farming can happen under many different arrangements. Whether that’s in-house, a tenancy where a landowner lets their land to another to farm, a Contract Farming Agreement (CFA) between a landowner (or tenant farmer) and a contractor, casual contracting on an ad hoc basis or machinery sharing. It’s important to understand each option to consider which…

The Self Assessment return second payment on account deadline is approaching (31 July 2025). Your Whitings contact will be sending out payment reminders with the details of how much income tax you need to pay and what payment reference is needed. These details are also shown on your tax return letter or email for your…

Are you aware of how the April NIC increases will effect Directors’ salaries?   From 6th April 2025, increases in Class 1 Employer’s National Insurance will come into effect, with the following changes: Employer’s NIC rate increasing from 13.8% to 15%. The secondary threshold, above which employer’s NIC are due, reducing from £9,100 to £5,000.…

As we approach another personal tax year end, we turn our thoughts to tax planning opportunities and actions that should be considered before 5 April. The list below is not exhaustive; however, it should provide some food for thought.   Pension Contributions Higher rate and additional rate tax can be saved on pension contributions. However,…

Do you have a 31st January 2025 payment on account liability still to pay? Do you know whether you can reduce your 31st January tax payment?   If you are still due to make your 31st January 2025 tax liability payment then there are several payment methods you can use, these are all available to…

Whilst one of the main talking points from the recent Autumn Budget was the increased National Insurance burden for employers, has one change gone under the radar?   Key Changes in the Budget Employers’ National Insurance Increase: The rate has risen from 13.8% to 15%, and the threshold at which National Insurance contributions apply has…

We share our pre-Budget tax planning ideas, as the first Labour Budget is now only 5 weeks away (30th October). There is currently a lot of speculation of adverse tax changes that the business community and private tax clients should expect. Unfortunately, we have no inside knowledge of what Rachel Reeves will say. However, as…