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News
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TAX ALERT: HMRC Is Clamping Down on Side Hustles
Have you ever made a little extra cash on the side? Maybe it’s selling handmade crafts on Etsy. Or have a store on Vinted.Do you make money from selling products […]
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Celebrating Excellence: Laura Allen Wins Quarterly Recognition Award
At WDS, our values aren’t just something we talk about – they’re lived every day by our incredible team. Each quarter, we take a moment to spotlight someone who has […]
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Tax Planning: How Companies, Sole Traders and Partnerships Can Reduce Their Tax Bill Before The Year End
As we approach the end of another tax year it’s always good tax planning to look at ways businesses, sole traders and partnerships can help reduce their tax liability. Sole […]
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Year-End Tax Planning Guide 2025Smart Strategies to Optimise Your Finances Before 6th April
ake Control of Your Tax Planning Before the Deadline As the tax year draws to a close, now is the perfect time to review your finances and take action to […]
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Celebrating Women in Leadership: An Interview with Elizabeth Graydon on International Women’s Day
At WDS, we believe in fostering an inclusive and empowering workplace where talent thrives. As we celebrate International Women’s Day, we’re shining a spotlight on the incredible women within our […]
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HR and Payroll Changes from April 2025 – What Employers Need to Know
Employers need to start preparing for key payroll and HR updates that will take effect from April 2025. Here’s a breakdown of what’s changing and how it could impact your […]
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Is your extra income taxable?
HMRC has launched a new “Help for Hustlers” campaign to help people who are earning extra income, figure out if they need to pay tax on the additional earnings. The […]
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Probate waiting times halved
The Ministry of Justice (MOJ), together with HM Courts & Tribunals Service (HMCTS) and the Minister for Courts and Legal Services, has announced significant improvements in probate waiting times. Probate […]
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Claiming tax relief for job expenses
Employees working from home may be eligible to claim a tax deduction for certain job-related expenses. If your employer does not cover these costs or allowances, you have the option […]
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E-invoicing consultation
HMRC together with the Department for Business and Trade (DBT) have launched a new consultation on e-invoicing to encourage its broader adoption among UK businesses and government departments. The consultation […]
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Business mileage with your own vehicle
Understanding the nuances of tax relief for using your personal vehicle for work can lead to significant savings. By familiarising yourself with HMRC’s approved mileage rates you can ensure you […]
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Gifts exempt from Inheritance Tax
Navigating the intricacies of Inheritance Tax (IHT) can be daunting, but understanding the available gift exemptions and strategic planning can significantly reduce potential liabilities. By effectively utilising annual allowances, small […]
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Exploring National Insurance Credits
Even if you have never been employed, you might have been eligible for NI credits without realising it. For example, if you have been a carer for a sick or […]
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Should you incorporate your business?
Deciding whether to incorporate your business in the UK involves evaluating several key factors: Limited Liability Protection Incorporating as a limited company creates a separate legal entity, safeguarding your personal […]
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Health services exempt from VAT
Health professionals providing medical services may be exempt from VAT if their work falls within their registered profession and primarily protects, maintains, or restores health. HMRC outlines specific exempt services, […]
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Cut in interest rates
The Bank of England’s Monetary Policy Committee (MPC) met on 5 February and in a 7-2 vote decided to reduce interest rates by 25 basis points to 4.5%. The two remaining […]
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Tax when transferring assets during divorce proceedings
Separation and divorce can create tax implications, particularly Capital Gains Tax (CGT) on asset transfers. New rules from April 2023 extend the ‘no gain/no loss’ period, helping spouses manage tax efficiently. […]
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Jointly owned property – no partnership
Tax on rental income from jointly owned property depends on ownership shares, unless part of a partnership. Married couples default to a 50/50 split unless they notify HMRC of a […]
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Spotlight on Josh Shackleton: A New Chapter as Assistant Tax Advisor
At WDS, we take pride in fostering the growth of our team members, and we are thrilled to spotlight Josh Shackleton on his recent appointment as Assistant Tax Advisor. Josh […]
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Welcoming Toni Moss as WDS’s New In-House HR Manager
We’re thrilled to announce that Toni Moss has joined WDS as our new in-house HR Manager. With over 18 years of experience in operational HR across diverse industries, Toni brings […]
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WDS Welcomes Tim Bennet as Senior Audit Manager
WDS are excited to announce the appointment of Tim Bennet as our new Senior Audit Manager. Tim brings over a decade of extensive experience in the audit field, having worked with […]
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Check or update company car tax details
If you use a company car for private travel, it’s taxed as a Benefit in Kind (BIK). The tax rate depends on the car’s list price and CO2 emissions—low-emission vehicles […]
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CIS monthly returns obligations
The Construction Industry Scheme (CIS) requires contractors to deduct tax from subcontractor payments and file monthly returns with HMRC. Even if no payments are made, nil returns must be submitted […]
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Not all hurt feelings are uncapped & costly
The Employment Appeal Tribunal slashed a £10,000 award for injury to feeling by 80% after an original tribunal ruling was deemed not to be Meek compliant as it failed to […]
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How to Stop Future Payments on Your Debit or Credit Card
Stopping future payments from being made on your debit or credit card is crucial for avoiding unwanted charges and managing your finances effectively. Here’s how you can do it: The […]
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How to Check the Creditworthiness of New Customers
Before extending credit to new customers, it’s essential to assess their financial reliability. Checking their creditworthiness helps protect your business from potential losses and late payments. Here’s how to do […]
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Jack Hewitson Joins WDS Wealth Management as Equity Partner: Insights on Leadership, Diversity, and the Future of Finance
We’re thrilled to celebrate a significant milestone at WDS Wealth Management as we welcome Jack Hewitson to his new role as Equity Partner and Director. Jack has been an integral part of […]
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Small duty cuts on draught products from 1 February 2025
From 1 February 2025, alcohol duty on draught pints has been cut for the first time in a decade, saving drinkers 1p per pint. Small breweries also benefit from tax […]
