Change to FreeAgent Pricing from February 2024

by Jessica Garbett | Dec 7, 2023 | business issues, WhitefieldNews

As you may know we partner with FreeAgent for user friendly accounting software for our clients. FreeAgent recently advised us of a price rise from 1st February 2024.  We are passing these increases on to our clients directly, with no profit uplift on our part. ...

Autumn Statement – Business rates in England

by Jessica Garbett | Dec 6, 2023 | ACCA, budget, business taxation, property taxation

We are sharing this update from ACCA, our professional body, for the interest of clients and contacts. The content is (c) ACCA Small business multiplier frozen while the 75% RHL relief will be extended A third of properties in England have already been taken out of...

Autumn Statement – IR35 and calculating PAYE liability in cases of non-compliance

by Jessica Garbett | Dec 5, 2023 | ACCA, business taxation, IR35

We are sharing this update from ACCA, our professional body, for the interest of clients and contacts. The content is (c) ACCA New proposal likely to impact individuals who have been incorrectly determined as self-employed for the purposes of the off-payroll working...

Autumn Statement – Capital allowances and full expensing

by Jessica Garbett | Dec 4, 2023 | ACCA, budget, business taxation

We are sharing this update from ACCA, our professional body, for the interest of clients and contacts. The content is (c) ACCA Spring announcement on full expensing made permanent in Autumn Statement During its Spring Budget 2023, the government introduced two new...

Autumn Statement – Cash basis expansion adds flexibility for businesses

by Jessica Garbett | Dec 1, 2023 | ACCA, budget, business taxation

We are sharing this update from ACCA, our professional body, for the interest of clients and contacts. The content is (c) ACCA Legislation will remove turnover restrictions and allow businesses to move from cash basis to accruals and back Legislation will be...

Government delays or drops green and other property-related proposals

by Jessica Garbett | Nov 30, 2023 | ACCA, business issues, business taxation, capital taxation, property taxation

We are sharing this update from ACCA, our professional body, for the interest of clients and contacts. The content is (c) ACCA The government has announced delays to various green and other proposals affecting property Property owners, landlords, tenants, managing...

Autumn Statement 2023 – Understanding Cash Basis Accounting Changes

by Jessica Garbett | Nov 22, 2023 | budget, business issues

In the Autumn Statement 2023 an announcement was made that, for unincorporated businesses, Cash Basis Accounting would become the default for reporting profits on Self Assessment rather than Accruals Basis Accounting. So, what does this mean?  And is it a good thing?...

Autumn Statement 2023 – have the Pros and Cons of Incorporation Changed?

by Jessica Garbett | Nov 22, 2023 | budget, business taxation

Within the UK business tax system there is a split between incorporated and unincorporated structures. The former – incorporated structures – are companies with shareholders and directors, paying Corporation Tax on business profits, and Income Tax, NI and...

Autumn Statement 2023 – A first look

by Jessica Garbett | Nov 22, 2023 | budget, business issues, business taxation, capital taxation, pensions, personal finance, personal taxatation, politics

This is a first look at the Autumn Statement 2023, delivered 22nd November 2023. First, a few caveats This analysis is focused on the interests of a typical client of Whitefield Tax or our daughter business YogaTax – it is not a comprehensive review of all...

Small business owners losing sleep over money worries – ACCA

by Jessica Garbett | Nov 21, 2023 | ACCA, business issues

We are sharing this update from ACCA, our professional body, for the interest of clients and contacts. The content is (c) ACCA Almost a third of small business decision-makers are struggling to sleep because of concerns about the challenges they are facing, according...

Practical issues relating to dividend distributions

by Jessica Garbett | Nov 18, 2023 | ACCA, business issues, business taxation

We are sharing this update from ACCA, our professional body, for the interest of clients and contacts. The content is (c) ACCA Answers to the most commonly asked questions around dividends and their disclosure in the accounts A dividend is a payment made by the...

Online traders face VAT avoidance clampdown

by Jessica Garbett | Nov 16, 2023 | ACCA, business taxation, VAT

We are sharing this update from ACCA, our professional body, for the interest of clients and contacts. The content is (c) ACCA HMRC has written to online marketplace traders as it seeks to reduce VAT avoidance As highlighted within Agents update issue 112, HMRC is...

Increased fines for failure to check right to work in UK

by Jessica Garbett | Nov 14, 2023 | ACCA, business issues

We are sharing this update from ACCA, our professional body, for the interest of clients and contacts. The content is (c) ACCA SMEs employing staff must check their records to be on the right side of the law Employers and landlords should pay strict attention to the...

Employees who are charged with criminal offences

by Jessica Garbett | Nov 8, 2023 | ACCA, business issues

We are sharing this update from ACCA, our professional body, for the interest of clients and contacts. The content is (c) ACCA Employers have recently been reminded of the rules governing when an employee charged with a criminal offence can be fairly dismissed An...

Company registry scam letter alert

by Jessica Garbett | Nov 6, 2023 | ACCA, business issues

We are sharing this update from ACCA, our professional body, for the interest of clients and contacts. The content is (c) ACCA ACCA has been made aware that members may receive a letter from a company called Company Registry asking to activate their new company...