As with any Budget in the modern era, the headlines are generally leaked before the event and the Chancellor was left to fill in the blanks as I sat and watched Spring Budget 2024 this afternoon. For taxpayers, there were any number of points to grab hold of, which...
How can Lambert Chapman LLP help you with tax planning in the next few weeks to ensure that you are maximising your position for the year-end and coming year? As the current tax year is heading to a close, at Lambert Chapman LLP, we like to consider the upcoming...
We have been aware for some time that in the current year, 2023/24, individuals with income taxed under PAYE (so employees in the main) whose salary and benefits do not exceed £150,000, will no longer be required to submit Self Assessment Tax Returns. This is good...
We are heading towards another Autumn Statement 0n 22 November 2023, but what about tax changes which have already been announced? Capital Gains Tax Allowances When you sell an asset and make a profit, if capital gains tax is due, allowances of £12,300 used to be...
The pandemic saw millions of people forced to work from home and as a result, found themselves eligible to claim temporary tax relief on expenses they incurred for that period. Figures from HMRC suggest that more than 3 million claims were submitted for the 2020/21...
It was announced back in 2021 that from April 2024, businesses, including sole trades and partnerships, would be taxed on their profits arising in the tax year, rather than on their accounting year end. This is referred to as the tax year basis of assessment. This...