Latest business support news and developments

Our News Centre is designed to help small and medium businesses to get to grips with some of the finance and bookkeeping topics which you may come across.  If you can't find what you need, please contact us and we'll do our best to help.

HMRC have issued a policy paper for simple assessments and it's included in the legislation so it's happening. A simple assessment is a tax assessment made by HMRC, not by the taxpayer, so it is the opposite of a self assessment made alongside an SA tax return. If the taxpayer has received notice to file an SA tax return, HMRC must withdraw that notice before issuing a simple assessment to the taxpayer. HMRC has up to four years from the end of the tax year to issue a simple assessment.
9 08 2017

The original plan from the government and HMRC would have forced the smallest businesses and sole traders to start quarterly reporting from April 2017, but those below the VAT threshold (currently £85,000) will now be exempt from requirements to quarterly report until the government can reassess the plans.
11 07 2017

Whitehill have apparently joined the likes of HSBC, Nationwide and others in being the base from which "phishing" emails have been sent. Phishing is a covert attempt to gain access to sensitive information like login details (user name and password), or to get you to send money.
6 06 2017

Britain’s community of sole traders and freelancers have delivered a split verdict on their ability to handle finance administration, as new survey findings revealed just how long micro business owners spend dealing with accounts.
19 05 2017

From April 2017 HMRC introduced a new £1000 individual tax allowance. Here we explain what's covered, and what it means
17 04 2017

"Making Tax Digital" is the new UK Government initiative to move to quarterly reporting and online reporting. Here's the original timetable for implementation
15 04 2017

Making Tax Digital - the new UK Government initiative to move to quarterly and online reporting - is causing a bit of confusion around who needs to do what. Here we break it down into 7 steps, and explain each one.
10 04 2017

HMRC and their increasingly hard line on tax return errors. A recent freedom of information request by RSM showed a six-fold increase in tax penalties for 2015/16 compared with 2012/13.
15 03 2017

Whitehill steps up to enable new management at Oxford United Women's Super League team We believe good management can make a massive difference to the success of a business, organisation, charity or even a football club. That's why when Oxford United Women's Football Club approached us to help bring in a new management team for the club, we were happy to help.
13 03 2017

Whitehill is pleased to announce it is opening a new small business centre in Abingdon, Oxforshire, which will specialise in accounting and bookkeeping support for micro-businesses such as one-person companies, contractors, freelancers and sole traders ibn the Abingdon and Kingston Bagpuize area.
15 02 2017

With the new dividend rules, and new guidance from HMRC on what does and doesn't qualify for the Employment Allowance, the whole situation for one-person and small businesses operating as a limited company paying Corporation Tax is quite complex. Here's our guidance and ideas. We hope it helps!
31 01 2017

We've compiled the definitive set of tax tables for 2017/18, with the 2016/17 figures for comparison, in a complete listing of tax changes, rates and thresholds.
31 01 2017

HMRC is introducing an additional test from 1 April 2017 that will determine the VAT flat rate percentage used by VAT registered businesses using the Flat Rate scheme. It appears that HMRC considers the benefits obtained by certain businesses to be excessive, and they're closing this down wherever possible
31 01 2017

Here's our summary of the key points from the Autumn statement, and how they could affect you. We've made it as brief as possible, so you can get the main points without the rest
15 11 2016

Early in 2016 HMRC published a paper called "Making Tax Digital". In it, the strategy from now until 2020 is set out, highlighting the fact that all tax is going online, is going to more frequent reporting, and heralding the end of the tax return as we know it.
13 10 2016