Following the latest audit quality review carried out by the Financial Reporting Council, the principal weakness highlighted by the report was audit firm’s shortcomings in challenging management effectively. Failures were identified in a number of areas including...
As part of my service to clients, I try and check out, periodically, that the client has strategies for: Retirement income Critical illness cover Life cover Income replacement It is nice to have all bases covered but sometimes one has to prioritise, especially where...
When I discuss a set of financial statements with a business owner, an often uttered lament is “I have made this profit but where’s the cash gone?”. In days of your, it was a requirement that a set of financial statements would include a cash flow statement as an...
The Partners at Lambert Chapman LLP swap their Tax Returns for Torquay to present a special, festive edition of Fawlty Towers! On behalf of all the Staff and Partners at Lambert Chapman LLP, may we take this opportunity to wish you a very Merry Christmas and a happy...
We are well aware of the charge on high earners for the Child Benefit allowance, which has been in place since 2013. This means that those earning over the £50,000 have a charge which means that the benefit is completely lost for those earning more than £60,000....
Making Tax Digital (MTD) started becoming mandatory from 1 April 2019, meaning that the vast majority of VAT-registered businesses that are on a quarterly stagger should have submitted their first MTD VAT returns by now. I say ‘should’ since an HMRC...
