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Monday 9am - 5pm Tuesday 9am - 5pm Wednesday 9am - 5pm Thursday 9am - 5pm Friday 9am - 4:30pm

B W Whiffin & Co

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B W Whiffin & Co

In addition to traditional accounting and tax services we also provide advice on how to improve and develop your business.

As well as general accountancy and tax skills, our staff also have specialist skills which enables us to provide clients with a premium service as and when required. Whether you need an integrated business strategy, access to corporate finance or specialist tax advice we are here to help you achieve your goals. Over the years, we have developed an excellent reputation for a prompt, reliable and pr

ofessional service giving you that peace of mind that all of your financial requirements are in good hands. We pride ourselves on client relations and we are always available to take a phone call. We are always happy to see clients whether it be for a meeting, bringing in records or just a word of advice.

02/09/2026

📈 Why successful businesses prepare before conditions improve

When confidence is low, holding back and waiting for the economy to improve can feel like the safest option. But quieter or more uncertain periods can actually be a valuable opportunity to strengthen your business.

That could mean reviewing whether your pricing still reflects rising costs, improving cash flow, streamlining inefficient processes or investing in your team.

It's also a good time to look at your existing customers. Are there opportunities to provide more value, introduce additional services or strengthen those relationships?

Most importantly, keep your numbers in sight. Realistic budgets, cash flow forecasts and regular performance reviews can help you spot problems earlier and make better-informed decisions.

The businesses best positioned when conditions improve are often those that did the groundwork while others were waiting.

If you'd like help reviewing your figures and preparing your business for what's ahead, speak to B W Whiffin & Co.

📞 01376 570171
📩 [email protected]
🌐 www.whiffin.co.uk

31/08/2026

💷 Will your next finance application succeed?

Securing funding isn't just about having a profitable business. Lenders want confidence that you can comfortably repay what you borrow and that the money will be put to good use.

Before applying for business finance, it pays to have:
✔ Up-to-date management accounts
✔ A realistic cash flow forecast
✔ A clear explanation of how the funding will be used
✔ A good understanding of your existing borrowing
✔ A healthy credit and payment history

The stronger the financial picture you can present, the easier it is for a lender to understand your business and assess the application.

And remember, a traditional bank loan isn't the only option. Asset finance, invoice finance and other funding routes may be more appropriate depending on what you're trying to achieve.

Planning to seek funding for your business? We can help you get your figures and forecasts in shape before you apply.

📞 01376 570171
📩 [email protected]
🌐 www.whiffin.co.uk

28/08/2026

📅 Tax Diary: September & October 2026

There are several important tax deadlines coming up over the next two months. Make sure these dates are in your diary:

🔹 1 September – Corporation Tax due for companies with a 30 November 2025 year end.

🔹 19 September – PAYE/NIC payments and CIS300 return/payment deadline. PAYE/NIC payments made electronically are due by 22 September.

🔹 1 October – Corporation Tax due for companies with a 31 December 2025 year end.

🔹 19 October – PAYE/NIC payments and CIS return/payment deadline. PAYE/NIC payments made electronically are due by 22 October.

🔹 31 October – Deadline for filing a paper 2025–26 Self Assessment tax return.

Missing a tax deadline can result in unnecessary penalties and interest, so it pays to stay organised.

Need help keeping your accounts and tax affairs on track? Get in touch with B W Whiffin & Co.

📞 01376 570171
📩 [email protected]
🌐 www.whiffin.co.uk

26/08/2026

🚗 Are you claiming the correct tax relief for work mileage?

If you use your own vehicle for business journeys, you may be able to receive tax-free mileage payments from your employer.

Since 6 April 2026, HMRC's approved mileage rate for cars and vans is:

✔ 55p per mile for the first 10,000 business miles
✔ 25p per mile after 10,000 miles
✔ 24p per mile for motorcycles
✔ 20p per mile for bicycles

If your employer pays less than the approved amount, you may be able to claim Mileage Allowance Relief on the difference.

There's also an additional 5p per mile allowance where you carry fellow employees as passengers on qualifying business journeys.

Keeping accurate records of your business mileage is essential to make sure you're claiming the right amount.

📞 01376 570171
📩 [email protected]
🌐 www.whiffin.co.uk

24/08/2026

📅 Budget date announced

The next UK Budget has been confirmed for Wednesday 28 October 2026, when the Chancellor will set out the Government's latest plans for the economy and public finances.

The Budget will be published alongside updated forecasts from the Office for Budget Responsibility (OBR), with businesses and individuals watching closely for any announcements affecting tax, spending and the wider economy.

With the date now in the diary, we'll be keeping a close eye on developments and what any changes could mean for our clients.

📞 01376 570171
📩 [email protected]
🌐 www.whiffin.co.uk

21/08/2026

🚲 Could your business offer tax-free bikes to employees?

The Cycle to Work scheme can provide employees with bicycles and cycling equipment as a tax-efficient benefit, while encouraging a healthier and more sustainable commute.

Provided the conditions are met:
✔ Bikes and eligible safety equipment can be provided tax-free
✔ Electric bikes can qualify too
✔ Employees can still use the bike for leisure
✔ There is no Income Tax or National Insurance charge on the benefit
✔ Employers don't need to report the qualifying benefit to HMRC

The bike must mainly be used for qualifying journeys, such as travelling between home and work, and the scheme must generally be available to employees.

For businesses looking at ways to enhance their employee benefits package, Cycle to Work could be well worth considering.

📞 01376 570171
📩 [email protected]
🌐 www.whiffin.co.uk

19/08/2026

🏡 Making the most of the £1,000 property allowance

Do you earn a small amount of income from property? The £1,000 property allowance could mean some or all of it is tax-free.

If your total gross property income is £1,000 or less in a tax year, you generally won't need to report it to HMRC, provided you're eligible for the allowance.

If you earn more than £1,000, you can usually choose between:
✔ Deducting the £1,000 property allowance
✔ Claiming your actual allowable expenses instead

And if a property is jointly owned, each owner may be entitled to their own £1,000 allowance against their share of the income.

There are exceptions, so the allowance isn't suitable in every situation. If you're receiving rental or other property-related income and aren't sure what you can claim, we can help you understand your options.

📞 01376 570171
📩 [email protected]
🌐 www.whiffin.co.uk

17/08/2026

💡 Five practical ways to reduce business energy costs

Energy prices may have eased, but they remain a significant cost for many businesses. A few simple changes can make a real difference to your bottom line.

Start by:
✔ Reviewing your energy bills to identify usage patterns
✔ Switching to LED lighting and using motion sensors where appropriate
✔ Servicing heating and air conditioning systems regularly
✔ Turning off equipment instead of leaving it on standby
✔ Comparing energy tariffs before your contract renews

For longer-term savings, it may also be worth considering energy-efficient equipment or renewable technologies.

Small changes made consistently can help reduce overheads, improve cash flow and protect your business against future energy price rises.

📞 01376 570171
📩 [email protected]
🌐 www.whiffin.co.uk

14/08/2026

🏡 When do you pay Stamp Duty Land Tax?

If you're buying property or land in England or Northern Ireland, you may need to pay Stamp Duty Land Tax (SDLT).

The amount you pay depends on:
✔ The purchase price
✔ The type of property
✔ Whether you're a first-time buyer
✔ Whether you're buying an additional property
✔ Your residency status

For most purchases, an SDLT return must be submitted and any tax due paid within 14 days of completion. Your solicitor or conveyancer will usually take care of this as part of the purchase process.

Remember, different taxes apply elsewhere in the UK:
📍 Scotland – Land and Buildings Transaction Tax (LBTT)
📍 Wales – Land Transaction Tax (LTT)

If you're unsure how SDLT applies to your property purchase, we're happy to help.

📞 01376 570171
📩 [email protected]
🌐 www.whiffin.co.uk

12/08/2026

💷 Is your business eligible to use cash basis accounting?

Cash basis accounting is a simpler way for many sole traders and partnerships to calculate their taxable profits.

Instead of recording income when you issue an invoice, you only record it when you actually receive payment. Likewise, expenses are generally claimed when you pay them.

Some of the benefits include:
✔ Simpler bookkeeping
✔ Improved cash flow management
✔ No tax on income you haven't yet received
✔ Many equipment purchases can be claimed as an expense without using capital allowances

Cash basis is available to most sole traders and partnerships without corporate partners, but it isn't available to limited companies, LLPs or certain other businesses.

While it's a great option for many businesses, traditional accounting may still be more suitable if you have complex finances, significant stock or need detailed accounts for lenders.

Not sure which method is right for your business? We'd be happy to help.

📞 01376 570171
📩 [email protected]
🌐 www.whiffin.co.uk

Address

90 High Street
Colchester
CO59AA

Opening Hours

Monday	9am - 5pm
Tuesday	9am - 5pm
Wednesday	9am - 5pm
Thursday	9am - 5pm
Friday	9am - 4:30pm

Telephone

+441376570171

Website

http://www.whiffin.co.uk/

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