A little bit of everything, written by the Lambert Chapman team. Join in the conversation, we would love to hear from you.
During my years of dealing with related businesses (majority being group companies) the concluding meeting point on finalising the end of year financial statements is sometimes ‘what management charges should we apply?’ To have this as a final adjustment within the...read more
As if Making Tax Digital for VAT has not been enough of an upheaval for business registered for VAT, for businesses in the construction industry, another major change comes into force on 1 October 2019. Introducing reverse charge VAT for the Construction Industry HMRC...read more
With effect from 6 April 2020, the Principal Private Residence (PPR) extension has been reduced from 18 months to just 9 months (oh for the halcyon days when it was a full 36 months). Rental Properties A second measure being introduced is the restriction in the...read more
Only 41% of SME businesses offer a pension salary sacrifice scheme to their employees compared to 61% of large and 85% of very large companies.(FT Advisor). Even less offer salary sacrifice arrangements to their employees and I often question why this is the case....read more
It is just over a year since the General Data Protection Regulations (GDPR) came into effect. Organisations all over the country spent considerable time and energy working out what steps would be required to make themselves ready for compliance with the new General...read more
Company cars are an expensive option for a salary package and I can’t remember the last time I recommended a company car for the owner of a business. However for some clients, I can see that this is about to change as HMRC will be introducing some attractive tax rates...read more
In the Tory leadership contest, Boris came out with a proposal to raise the Basic Rate Tax threshold to £80,000 (currently it is £50,000). This seemed like an outrageous and impractical proposition. At the time, some commentators saw it as an example of dead cat...read more
Having won the quiz at Bishops Stortford a month or two previously, we were invited to take part in The Helen Rollason Cancer Charity Corporate Quiz which took place on Thursday 11 July 2019 at the CloudFM County Ground in Chelmsford. As always, we were very pleased...read more
Following on from Lucy Orrow’s article on “Incorporating your Rental Business”, I thought I would share some common misconceptions that are made by clients when discussing the subject of Renral Income from Residential Property. I don’t need to declare my rental income...read more
The Statutory Residence Test has been around since 2013 and has given a proper basis for determining residence status. Our client left the UK in 2012 and subsequently made a large capital gain on the disposal of shares in a unlisted trading company. This was not...read more
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