What are the opening hours?

Monday 9am - 5pm Tuesday 9am - 5pm Wednesday 9am - 5pm Thursday 9am - 5pm Friday 9am - 5pm Saturday 9am - 12pm

http://www.garrywhiteand.co.uk/

Garry White and Company, James Street, Ebbw Vale (2026)

02/05/2026

LIFE IS LIKE A BOX OF CHOCOLATES

Running an accountancy practice gives me so much enjoyment and pleasure. No two days are the same. With over 700 clients in my practice I virtually have a client for each trade. No clients keep the same type of records.

I deal with vat returns, payroll, self-assessment tax returns, making tax digital submissions, corporation tax returns, tax planning, cash flow forecasts, charity accounts but to name a few.

Days can be stressful or easy going but usually something will happen that puts a smile on my face . Clients send me jokes (which I will tend to recycle) which can lighten the load when serious matters arise.

These days I have to pick and choose new clients as I cannot fit everyone in to my practice - sometimes I wish I could but I appreciate everyone has their limitations. I have to turn 3-4 away every week.

However I always try to find time for people in need of help in an industry that can be very daunting. I realise that I’m no good at building walls, fitting kitchens together, repairing leaks, fixing boilers etc but I’m pretty good at my trade - something I’ve done for nearly 40 years.

Today was no exception. First up was a local chap, not a client but had popped in to the office in the week. His father in law told him go and see Steve in town he will help you. Tax penalties totalling about £7k. I spent about 40 minutes of my time completing all tax appeals, went through them with him, got him to sign them and he then went and posted them off. Appeals back from 2012-2016 which could not be done online. Again no charge for my knowledge. Should be £7k in penalties cancelled by HMRC.

Next up a new client that needed my help. Unknown to myself it was a former Wales and British Lion rugby player. I felt honoured to help him like I do with all my clients.

A number of phone calls, a few other people dropping in to see me and a visit from my postman who always has a smile on his face - reminded me of my father - always had that smile on his face - always had faith in me to succeed in business and hopefully is looking down at me saying I told you so.

You see life is unpredictable, full of surprises and you cannot know what experiences (good or bad) you will get next, just as you don’t know the filling of a chocolate before you bite into it. You just have to accept what comes your way.

Steve Drake F.C.C.A. ATT

10/03/2026

DIFFICULTIES CONTACTING HMRC?

I receive this from clients everyday - yesterday was no exception.

A 79 year old gentleman walked into my office yesterday morning without an appointment and said he needed my help. He had been trying to get in touch with HMRC for the last 2 years without getting through.

From the outset I could tell he was worried and asked him what the problem was. He said he had an online HMRC account and had been receiving simple assessment tax calculations for the last 4 years without any personal tax allowance awarded. Since his income was only state pension and attendance allowance I knew this was incorrect. Since attendance allowance is non taxable his personal allowance and marriage transfer was sufficient to cover his taxable income. The 4 years simple assessment tax calculations showed tax in excess of £8,000 and he was ordered to pay in full by the 8th June 2026.

One thing I don’t like is seeing people visibly worried by HMRC so I sat him down phoned HMRC and after getting through the automated system (which takes ages) joined the queue. Twenty minutes later an officer picked up - it was obvious he didn’t have a great deal of training - I explained the gentleman had 4 years simple assessments without any personal allowance which was incorrect. After the gentleman got through security which was difficult because he was hard of hearing I took over the conversation. I was told that I would be placed on hold whilst the officer looked into the matter. Usual music came on for 5 minutes then officer came back on saying I’m still trying to find out what has happened here - then music back on - then he cut me off.

Gentleman realising how long it was taking said what do I do now?

I told him I’m not leaving this go - so phoned again - another 20 minutes in the queue then a different officer picks up. We go through security again which is difficult because he can’t hear very well - then he passes my mobile phone back to me. I explain this is our second time of phoning - I gave the officer my mobile number in case we got cut off.

Music on again whilst the officer did research. Then at long last the officer came back to me and said it was an error on HMRC records as they had 2 different records for him - this can happen if someone has been declared bankrupt in their working life - yes he said that had happened to him.

I continued working with the officer and eventually she confirmed that personal allowances had now been awarded for the last 4 years and will continue to be awarded to him moving forward.

The debt of over £8,000 had been cancelled and was confirmed he didn’t owe any money at all.
Alarmingly she confirmed they had received a letter from him on the 18th March 2024 but the system was showing it had not been dealt with yet - that letter was asking HMRC why he was not awarded a personal tax allowance for each year!!!

It took me nearly 80 minutes to resolve the matter - client asked me how much he owed me - it was obvious to me that his funds were very limited so I told him NO CHARGE.

I asked him why he came to see me? He said he just felt HMRC were unreachable and loads of people told him “Go and see Steve Drake in town - he will sort it”

That was my good deed for the day but just goes to show how difficult it is to deal with HMRC these days.

07/03/2026

A frequent question I get asked by numerous clients each year is there an advantage in converting their business into a Limited Company?

Based on the tax rules for 2026/27, the "gap" between being a Sole Trader and a Limited Company has narrowed significantly. In many cases, the extra paperwork and accountancy fees of a company no longer result in a higher "take-home" profit until you are earning significantly more than £80,000.

2026/27 Take-Home Comparison: Sole Trader vs. Limited Company
Assumes: £12,570 salary for Limited Company, no other income, and England/Wales/NI tax rates.

Annual Profit Sole Trader (Take-home) Limited Company (Take-home) The Difference
£30,000 £25,511 £24,204 -£1,307
£40,000 £32,889 £31,532 -£1,357
£50,000 £40,268 £38,861 -£1,407
£60,000 £45,263 £45,463 +£200
£70,000 £51,911 £52,506 +£595
£80,000 £58,559 £59,549 +£990
£90,000 £65,207 £66,592 +£1,385
£100,000 £71,855 £73,634 +£1,779

3 Key Takeaways:
The £50k Barrier: Below £50,000 profit, being a Sole Trader is usually more tax-efficient. This is because the self-employed National Insurance rate (6%) is now lower than the combined cost of Corporation Tax and Dividend Tax.

The "Marginal Rate" Trap: Limited Companies now face a "marginal" Corporation Tax rate of 26.5% on profits between £50,000 and £250,000. This makes it much harder for a company to "beat" the sole trader tax position in that middle bracket.

Don't Forget the Fees: A Limited Company usually costs £800–£1,200 more per year in accountancy fees. If the "Difference" in the table above is less than £1,000, you are likely better off staying as a Sole Trader.

Why go Limited then?
Even if the tax savings are small, a Limited Company is often chosen for:

Legal Protection: To protect your house/assets if the business is sued or fails.

Pension Power: Companies can pay directly into your pension as a pre-tax expense, which is a massive tax saver for high earners.

Brand Image: Some big clients won't hire you unless you are "Ltd."

Steve Drake
F.C.C.A. ATT

06/03/2026

📢 BIG Changes Coming to Your Taxes: Is Your Business Ready?
At Garry White and Company, we want to ensure all our clients are ahead of the curve. HMRC is fundamentally changing how sole traders and landlords report their income through Making Tax Digital (MTD) for Income Tax.

The days of a single annual tax return are ending for many. Here is everything you need to know:

🔍 Who is Affected?
HMRC is rolling this out in stages based on your "qualifying income" (total gross turnover from self-employment and/or rental income before expenses):

From April 6, 2026: If your qualifying income is over £50,000.

From April 6, 2027: If your qualifying income is over £30,000.

From April 6, 2028: If your qualifying income is over £20,000.

How do you get "put into" the system?
HMRC identifies you based on your previous tax returns. For example, they will look at your 2024/25 tax return (filed by Jan 2026) to see if you exceed the £50,000 threshold for the April 2026 start. You should receive a letter from HMRC notifying you of your mandation.

🗓️ The New Deadlines
Under MTD, you must keep digital records and submit four quarterly updates, plus a final year-end declaration.

Quarterly Filing Deadlines:

7 August (for April–June)

7 November (for July–September)

7 February (for October–December)

7 May (for January–March)

Year-End & Payment Deadlines:

Final Declaration: Due by 31 January following the end of the tax year.

Tax Payment: There is no change here! Your tax payment deadline remains 31 January (and 31 July for payments on account).

💻 Our Recommendation: Xero
To comply with these rules, you must use HMRC-compatible software. Paper records or basic spreadsheets will no longer be enough.

At Garry White and Company, we use and highly recommend Xero. It is a world-class, MTD-compliant platform that:

✅ Automatically pulls in your bank transactions.

✅ Gives you a real-time view of your tax position.

✅ Makes submitting those four quarterly updates a breeze.

🤝 How We Can Help
Don't wait for a letter from HMRC to start preparing. Moving to digital record-keeping now will save you a massive headache later.

Would you like us to review your latest turnover to see which MTD phase you fall into? Send us a message or give the office a call today!

27/02/2026

📢 BIG CHANGES ARE COMING: Making Tax Digital for Income Tax (April 2026) 📢
Attention all Sole Traders and Landlords! 🏠💼

The way you report your income to HMRC is about to undergo its biggest transformation in decades. Making Tax Digital (MTD) for Income Tax officially kicks off in April 2026, and it’s time to get your business ready.

🗓️ Is this you?
From 6 April 2026, you must comply with MTD rules if your total qualifying income (gross turnover from self-employment and/or property) is above £50,000.

(Note: If your income is above £30,000, your start date will be April 2027. For those above £20,000, it’s April 2028.)

🔄 How the new system works
The traditional once-a-year "January rush" is being replaced by a more real-time digital approach. Here’s what you’ll need to do:

Digital Record Keeping: You must keep digital records of all your business transactions using HMRC-compatible software. No more boxes of paper receipts! 🚫📦

Quarterly Updates: Instead of one annual return, you (or we) will submit a summary of your income and expenses to HMRC every three months.

Final Declaration: At the end of the tax year, you’ll submit a final declaration to confirm your total tax liability, including any other income or reliefs.

✅ The Benefits
While it sounds like more work, the goal is to reduce errors, give you a clearer view of your tax bill throughout the year, and make your financial management much smoother.

🤝 How Garry White and Company can help
At Garry White and Company, we are already helping our clients transition to MTD-compatible software. We can:

Identify if and when these rules apply to you.

Set you up on the best digital software (We use Xero in our practice).

Manage your quarterly submissions so you never miss a deadline.

Don't wait until 2026 to start thinking about this! Let’s get your digital systems in place now so the transition is stress-free.

👇 Have questions? Comment below, send us a DM, or call the office today to book a consultation!

Digital

27/02/2026

🚀 Limited Company Directors: Is Your Year-End Strategy Ready?

As we approach the end of the 2025/26 financial year, the landscape for Limited Companies is shifting. With upcoming changes to Dividend Tax rates and National Insurance from April 2026, proactive planning at Garry White and Company has never been more vital.

Here are 10 tax-saving strategies specifically for Limited Company directors:

1. Beat the Dividend Tax Rise 📈
From 6th April 2026, dividend tax rates for basic and higher-rate taxpayers are set to increase by 2%. If your company has sufficient retained profits, consider voting and paying dividends before the tax year ends to lock in the current lower rates (8.75% for basic rate / 33.75% for higher rate).

2. Maximize "Employer" Pension Contributions 🏦
Unlike personal contributions, pension contributions made directly by your company are usually an allowable business expense. This reduces your Corporation Tax bill (saving between 19% and 25%) and avoids Employer National Insurance entirely.

3. Review Your Salary vs. Dividend Mix ⚖️
The "sweet spot" for director salaries often changes with new thresholds. For 2025/26, many directors find a salary of £12,570 efficient as it utilizes the Personal Allowance without triggering Employee NI. However, with the Employment Allowance rising to £10,500, we can help you calculate if a higher salary is now more beneficial for your specific setup.

4. Utilize "Full Expensing" for New Assets 💻
Limited companies can claim 100% tax relief in the year of purchase for new plant, machinery, and IT equipment. If you’re planning a big purchase, doing it before your company year-end can slash your Corporation Tax liability immediately.

5. Be Mindful of the Corporation Tax "Marginal Trap" 🪤
If your profits fall between £50,000 and £250,000, you are likely paying an effective marginal rate of 26.5% on profits in that bracket. Timing your expenses or pension contributions to pull your profit back toward the £50,000 mark can provide a significant tax saving.

6. Don't Forget the Trivial Benefits Rule 🎁
You can provide yourself (and other directors/employees) with "trivial benefits" of up to £50 a time (capped at £300 per year for directors). These must not be cash or a reward for performance—think a staff meal or a gift set—and are completely tax-deductible for the company.

7. Claim for Home Office & Use of Home 🏠
If you work from home, ensure your company is reimbursing you correctly. Whether it's the flat-rate allowance or a formal rental agreement between you and your company, this is a legitimate way to move money out of the business tax-efficiently.

8. Accelerate Repairs and Maintenance 🛠️
Planning an office refurbishment or need to repair business equipment? Carrying out this work before your year-end brings the tax relief forward by a full year, aiding your company's cash flow.

9. Check Your Director’s Loan Account (DLA) 💳
If you have borrowed money from the company, ensure it is repaid within 9 months and 1 day of your year-end to avoid the "Section 455" tax charge (currently 33.75%). We can review your DLA to ensure you don't face an unexpected HMRC bill.

10. Go Electric with Company Vehicles ⚡
The Benefit-in-Kind (BiK) rate for electric vehicles remains low at 3% for 2026/27. Coupling this with 100% First Year Allowances means your company can write off the full cost of a new EV against profits while you enjoy a very low personal tax charge.

Customized Advice for Your Company
Tax planning isn't "one size fits all." At Garry White and Company, we look at the big picture—combining your business goals with the most efficient tax structures.

📩 Message us or call 01495 302382 to book your pre-year-end consultation.

22/02/2026

📈 10 Smart Ways to Reduce Your UK Tax Bill in 2026
Calling all Sole Traders, Limited Company Directors, and Landlords! 📢

With tax thresholds frozen and the new 2026 digital reporting requirements (MTD) fast approaching, proactive tax planning is no longer optional—it’s essential. Are you making the most of every allowance?

Here are 10 proven strategies to help you keep more of your hard-earned income:

1. Maximise Pension Contributions 🏦
The most powerful tool in your kit. Contributions can reduce your taxable income, and if you're a Limited Company director, they are often a deductible business expense, saving you Corporation Tax and National Insurance.

2. Claim "Wholly & Exclusively" Expenses 📝
Don't miss the small things. From software subscriptions and professional insurance to a portion of your home's heating and broadband (for those working from home), every legitimate expense lowers your profit and your tax.

3. Utilise the Annual Investment Allowance (AIA) 💻
Planning a big purchase? The AIA allows businesses to claim 100% of the cost of qualifying plant and machinery (including most office equipment and vans) in the year of purchase.

4. Don’t Ignore the £1,000 Trading & Property Allowances 🏠
Small-scale landlords or side-hustlers can earn up to £1,000 tax-free before even needing to report it. If your expenses are lower than £1,000, use the allowance instead!

5. Review Your Remuneration Strategy 💸
From April 2026, dividend tax rates are increasing. Now is the time to re-balance your salary-vs-dividend mix to ensure you are staying within the most tax-efficient bands.

6. Rent-a-Room Relief 🛌
Landlords (and homeowners) can earn up to £7,500 per year tax-free by letting out a furnished room in their main home. This is often more efficient than claiming actual expenses.

7. Marriage Allowance Transfer 💍
If your spouse or civil partner earns less than the £12,570 Personal Allowance, they can transfer up to £1,260 of their unused allowance to you, potentially saving you up to £252 in tax.

8. Strategic Use of ISAs 🛡️
Make sure your personal savings are working for you. You can save up to £20,000 annually in ISAs, where all interest, dividends, and capital gains are completely tax-free.

9. Prepare for Making Tax Digital (MTD) 📲
Starting April 2026, self-employed individuals and landlords with income over £50,000 must use MTD-compatible software. Early adoption helps you track real-time tax liabilities and avoid late-filing penalties.

10. Charitable Giving via Gift Aid 🎁
Donating to charity isn't just good for the soul—it’s good for your tax return. Higher-rate taxpayers can claim back the difference between the basic rate and their highest rate of tax on the total "grossed-up" donation.

08/02/2026

Garry White and Company: Over 40 Years of Dedicated Accountancy

Established in 1982 by Garry White FCA, Garry White and Company has been a cornerstone of the Ebbw Vale business community for over four decades. From our beginnings as a local practice, we have evolved into a modern, forward-thinking firm that balances deep-rooted experience with the latest in financial technology.

Our History and Leadership
The firm’s legacy of stability began when Steve Drake joined the practice in 1988 as a young, ambitious qualified accountant. His commitment to the firm’s clients led to his appointment as Partner in 1996. In October 2003, Steve took the helm as Principal, continuing the firm’s reputation for reliability and personal service.

Under Steve’s leadership, Garry White and Company has seen consistent growth. Today, operating from our offices at 24 James Street, Ebbw Vale, the practice has reached virtual full capacity—a testament to the trust and long-term relationships we have built with our clients.

Meet the Team
We believe that a firm is only as strong as its people. Our dedicated team provides the technical expertise and personal attention that our clients depend on:

Steve Drake: Principal & Lead Accountant F.C.C.A. ATT

Andrew Parry: Senior Accountant

Cara Bastow: Accounts Assistant and Xero expert

Katherine Tovey: Accounts Assistant and Xero expert

Leading the Digital Journey
While we value our 40-year history, we are firmly focused on the future. As a certified Xero Partner practice, we specialize in guiding businesses through their digital transformation. Whether you are navigating Making Tax Digital (MTD) or simply looking to streamline your bookkeeping, we provide the tools and training to help your business thrive in the modern economy.

Our Mission: To provide expert financial guidance with a personal touch, ensuring every client has the support they need to navigate their unique digital and financial journey.

08/02/2026

📢 Important Update: Navigating the 2025 "Jobs Tax" 📢
Since April 2025, many of our clients have felt the impact of the new Employer National Insurance changes—often dubbed the "Jobs Tax."

Whether you’re a growing team or a sole director, the rules of the game have changed. Here is what you need to know and, more importantly, how you can mitigate the costs.

🔍 What Changed?
The Rate Rise: Employer National Insurance (NIC) increased from 13.8% to 15%.

The Threshold Drop: The point at which employers start paying NIC dropped from £9,100 down to £5,000.

The Silver Lining: The Employment Allowance was boosted to £10,500, but there’s a catch... sole directors generally cannot claim it.

💡 Strategies to Reduce the Burden (Especially for Sole Directors)
If you are a sole director, you are likely seeing a higher tax bill on your monthly payroll. Here are three ways we are helping our clients stay tax-efficient:

1. Optimal Salary Re-calibration Previously, many directors took a salary of £9,100 to avoid NICs entirely. With the new £5,000 threshold, that same salary now triggers a tax bill. We can help you calculate the "sweet spot" between salary and dividends to ensure you still earn your State Pension years without overpaying tax.

2. Employer Pension Contributions Unlike salary, pension contributions made directly by your company into your SIPP or workplace pension are generally exempt from Employer NICs. This remains one of the most powerful tools to extract profit while reducing your "Jobs Tax" exposure.

3. Reviewing "Secondary" Staffing For some, bringing on a family member as a legitimate employee or second director can unlock the £10,500 Employment Allowance, potentially wiping out your Employer NIC bill entirely. Note: This must be for genuine commercial work!

🛡️ Don’t Overpay – Let’s Review Your Strategy
Tax changes shouldn't keep you up at night. At Garry White and Company, we specialise in bespoke tax planning that keeps more money in your business and less in the taxman's pocket.

Is your current salary structure still the most efficient?

24/01/2026

From April 2026, the UK tax landscape for sole traders and landlords is undergoing its most significant shift in decades. The headline change is the mandatory rollout of Making Tax Digital (MTD) for Income Tax, but there are also important updates to tax rates and allowances you should track. Here is the breakdown of what is changing:

1. Making Tax Digital (MTD) for Income Tax Starting 6 April 2026, the way you report your income to HMRC changes fundamentally.

You will no longer file a single annual Self-Assessment tax return via the HMRC portal if you meet the threshold. Who is affected? Sole traders and landlords with a total "qualifying income" (gross turnover/rent) of more than £50,000.The Threshold: This is based on your gross income (before expenses), not your profit. If you have both a trade and rental income, it is the combined total that counts.

Quarterly Updates: Instead of one annual return, you must send summary updates of your income and expenses to HMRC every three months.

Digital Records: You are required to keep your records digitally (using software or spreadsheets with "bridging software"). Paper-based bookkeeping will no longer be compliant.

Final Declaration: You will still need to submit a "Final Declaration" by 31 January following the tax year to reconcile your figures and claim reliefs. Note: If your income is between £30,000 and £50,000, you aren't mandated until April 2027. If it's between £20,000 and £30,000, the start date is April 2028.

2. Income Tax & Dividend Rate Changes Recent budget announcements have introduced specific rate hikes that will affect your take-home pay:

Tax Type Change from April 2026 Dividend Tax Rates increase by 2 percentage points. The Basic Rate moves to 10.75% (from 8.75%) and the Higher Rate to 35.75% (from 33.75%).

Personal Allowance Remains frozen at £12,570 (currently scheduled to stay frozen until 2031).

Property Income Rates Wait until 2027: New specific "Property Tax Rates" (22%, 42%, 47%) have been announced but are not scheduled to take effect until April 2027.

3. Business & Capital Changes Capital Allowances: A new 40% First-Year Allowance (FYA) is introduced for "main rate" plant and machinery expenditure. However, the standard Writing Down Allowance (WDA) for main rate assets is reduced from 18% to 14%.
Incorporation Relief: From 6 April 2026, if you move your property business into a limited company, you will need to actively claim Incorporation Relief rather than it being applied automatically.

National Insurance (NI): The Small Profits Threshold for Class 2 NI is expected to rise to £7,105.

4. New Penalty System HMRC is moving to a points-based penalty system for late submissions to coincide with MTD. You will receive a point for every late quarterly update. A financial penalty (likely £200) is only triggered once you hit a certain points threshold (usually 4 points for quarterly filers).

Key Dates for your Diary

31 January 2026: Deadline for your 2024/25 paper/online return (HMRC uses this to see if you're above the £50k MTD threshold).

6 April 2026: MTD for Income Tax officially begins.

7 August 2026: Deadline for your first digital quarterly update (covering April–July 2026).

Steve Drake
Chartered Certified Accountant
F.C.C.A. ATT

05/01/2026

2026 - A BLEAK YEAR FOR GROWTH?

When this Government introduced the jobs tax in the Autumn 2024 budget they said they would raise £40 billion pounds from employers.

Surely anyone with a little common sense would have thought this will mean employers will cut jobs or cut back in hiring from that date. Coupled with minimum wage increases this has lead to lower profitability in Companies thus leading to lower growth.

Since April 2025 there are well over a million less people on payroll according to official HMRC figures. Lo and behold what do we see in the Autumn 2025 budget - yes more tax rises.

This Government is squeezing numerous businesses to the bone - big and small. How can their number one priority be growth? The only reason interest rates are reducing is the Bank of England are trying to stimulate growth. Inflation is currently well over the 2% target.

No doubt lots of retail and hospitality businesses have traded through Christmas hoping trading can pull them through. Now that Christmas is over I wonder how many businesses will have to cease trading throwing the jobs market into turmoil. Job vacancies are at its lowest for many years simply because firms are not hiring.

I fear 2026 is going to be a tough year for many many businesses unless this chancellor starts seeing sense.

Steve Drake F.C.C.A. ATT

Garry White and Company

02/05/2026

10/03/2026

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