Philip Peters (Bury St Edmunds)

Philip qualified with an Essex based practice in 1985, achieving the highest marks in the professional examinations amongst candidates from East Anglia. He has specialised in personal and corporation taxation matters since 1988, when he moved to the Bury St Edmunds office of a national firm and became a member of the Chartered Institute of Taxation. He joined Whitings firm in 1997 and continues to advise a wide range of clients on their taxation affairs, from our Bury St. Edmunds office, where he is a resident partner and now also Chairman of the firm. Outside of work, he enjoys walking, gardening and classical music.
 
My Latest Blogs
 
Philip Peters
26th November 2017 Buy to Let – minimising income tax

In recent years the tax system has been used increasingly to try to influence behaviour in the buy to let property market – the increases in Stamp Duty Land Tax, the restriction of tax relief for mortgage interest and the higher rate of capital gains tax for residential property sales are all examples of government…

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Philip Peters
5th October 2017 HMRC “Connect”: Now checking businesses that should VAT register.

We have known since 2010 that HMRC has a computer programme, called “Connect”, that is collecting data from a variety of sources about taxpayers, and then using this intelligence to check on correct tax compliance. We have known that these data sources include Banks, Social Media, DVLA, Local Authorities, Foreign Tax Jurisdictions and Land Registry.…

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Philip Peters
4th April 2017 Whiting & Partner’s sponsors 2017 High Sheriff’s Awards

Whiting & Partners sponsored the Lifetime Achievement Award category at the 2017 High Sheriff Awards. In partnership with Suffolk Community Foundation, The High Sheriff, William Kendall held this year’s High Sheriff’s Awards for Suffolk on Thursday 23 March at The Hoffman Building in Snape Maltings. The awards were hosted by BBC Radio Suffolk presenter Lesley…

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Philip Peters
27th February 2017 Progressive Capital Taxation.

Probate: Fees hike to go ahead. Despite an overwhelmingly negative response to its proposals, the Ministry of Justice has confirmed that it is pressing ahead with the introduction of a new scale of fees to be imposed on the executors of deceased estate. Up to now, when executors apply for probate, a flat rate fee…

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Philip Peters
24th February 2017 Renewal Premiums

Tax Investigation Insurance: Premiums for 2017-18 policy year. Prices unchanged from the previous year:   Limited companies with turnover >£20m                    POA Limited companies with turnover £10m to £20m     £540 Limited companies with turnover < £10m                   £185 Partnerships and LLP’s                                                     £155 Sole traders                                                                         £100 Private clients                                                                       £40 Our tax investigation insurance business is…

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Philip Peters
23rd August 2016 IR35 Compliance

IR35: Proposals for off-payroll working in the public sector. HMRC has been consulting over the summer on reform of the intermediaries legislation, commonly termed IR35. The proposal, announced in the Budget 2016, is to move the responsibility for determining the tax status of engagements in the public sector by consultants and others operating through their…

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Philip Peters
10th August 2016 Distributions on a company winding-up

In the Budget earlier this year the Chancellor announced that there would be a new rule aimed at stopping tax avoidance when a limited company is wound up and funds are distributed to the shareholders. Where certain conditions are met, the distribution will be treated as income in the hands of the shareholders rather than…

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Philip Peters
22nd March 2016 Insurance Renewal

Tax Investigation Insurance: Premiums for 2016-17 policy year. Premiums wef 1 April 2016: Limited companies with turnover > £10m …… £540 Limited companies with turnover < £10m …… £185 Partnerships and LLP’s ……………………………. £155 Sole traders ……………………………………………. £100 Private clients……………………………………………..£40 Our tax investigation insurance business is administered from our Bury St Edmunds office(Contact: Jill Holt).

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Philip Peters
26th November 2015 Tax Revenues

Tax Investigations Insurance: £800 million more for HMRC, to close the ‘tax gap’. Among the many announcements affecting HMRC and the way it administers the tax system in future years, Chancellor George Osborne has pledged £800 million of funding for additional work to tackle tax evasion and non-compliance. The aim is to raise an additional…

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Philip Peters
24th July 2015 Tax Whistle-blowers

Tax Dodgers Beware: HMRC makes record payments to informants. Our Fee Protection insurers report that HMRC made payments of £605,000 to informants in the year to March, up 50% on the previous year. Around 100,000 calls were made to HMRC’s confidential telephone hotline over the last year. Finding sufficient supporting information to justify following up…

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