Latest blogs for Services

8th July 2020 Summer Budget: What’s in it for SME’s?

As we all slowly unwind from Coronavirus lock-down and the end of furlough support rapidly approaches, Chancellor Rishi Sunak has taken the unusual step of making fiscal announcements in the Summer, to try and head off a recession. New initiatives, of interest to SME’s, include:   Job Retention Bonus – £1,000 bonus paid per employee…

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7th July 2020 Tax Codes: Do you understand yours?

Your tax code can be confusing but it is extremely important to understand. That small string of numbers and letters informs your employer or pension provider how much tax free allowance you are entitled to.   An incorrect code will have very real consequences. If too much tax is being deducted from your monthly income,…

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3rd July 2020 31 July: Is full amount of income tax payable?

Many taxpayers who are required to file a self-assessment tax return to HM Revenue & Customs should now be preparing for their next half-yearly tax payment which is due by 31st July. The amount payable is the second payment-on-account for the 2019/20 tax year and is automatically calculated as half of the total tax liability…

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19th June 2020 Socially Responsible Investing

Every day more people are starting to think about environmental issues, such as climate change, social issues and our impact on the world around us, plus the sustainability of it all. But what can we do about it when it comes to investing your capital?   What do all the many different definitions and terms…

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8th June 2020 COVID-19: Missed VAT Deferral – Opportunity to claim refund

In March 2020 HMRC announced that businesses had the option to defer VAT payments falling due between 20 March 2020 and 30 June 2020 until 31 March 2021.  An important step in taking  advantage of this easement is to cancel your Direct Debit.  Where you have failed to do this and your VAT payment has…

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18th May 2020 Covid-19: Companies House dissolutions now put on hold

Like many Government departments, Companies House have relaxed various compliance requirements to support businesses to get through this Covid-19 period. In their latest announcement, they are making the following temporary changes to their strike off policies:   Voluntary (Form DS01 submitted) Strike Off Applications – Process halted after notice published in London Gazette. Automatic Dissolutions…

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24th April 2020 Job retention scheme update

So we are nearly at the end of the first week of the job retention scheme portal opening and as a firm have processed over 100 claims helping more than 500 employees continue to get paid. We are still continuing to process the claims, hoping to help more businesses gain funding to keep going.  …

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23rd April 2020 COVID-19 – Improving Cash Flow – Coronavirus Job Retention Scheme Claims

HMRC opened the Coronavirus Job Retention Scheme On-line Portal on Monday 20th April 2020, which allows employers to claim the Government Grant in respect of Furloughed employees.  As cash flow is a priority, our payroll team is busy helping clients compile and submit claims at the earliest possible opportunity.   At Whiting & Partners we…

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21st April 2020 Future Fund: New COVID-19 Support for Innovative Companies

As part of it`s support package for UK businesses during COVID-19, the Government have now launched, through the British Business Bank, a new initiative: Future Fund. This is aimed at helping businesses that regularly finance their operations through successive equity funding rounds (ie start-up TechCo`s).   Eligibility criteria: UK based businesses which have been operating…

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20th April 2020 COVID-19: Capital Gains Tax (CGT) 30 day reporting changes

When UK resident individuals, trustees and personal representatives dispose of residential property it is important to be aware of the Capital Gains Tax (CGT) reporting changes now with us where the unconditional contract is signed after 6 April 2020, usually this is the date of exchange.   Generally a return in respect of such a…

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