Firm News

A little bit of everything, written by the Lambert Chapman team. Join in the conversation, we would love to hear from you.

Freedom Day in the United ‘Pingdom’

Freedom Day in the United ‘Pingdom’

“There’s a warnin’ sign on the road ahead” says Nick Forsyth as he considers the issues businesses face connected to Freedom Day In what became an expected move, our Government predictably threw the workplace safety measures back into Employers faces with effect from...

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The Insolvency Process

The Insolvency Process

Many companies will experience short-term trading and cashflow issues during their lifetime.  If these become significant and the company is unable to recover, then the Directors may need to consider placing the company into insolvency. In law, a company is insolvent...

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Tax Relief for Virtual Staff Parties

Tax Relief for Virtual Staff Parties

Covid has brought many changes to our lives including announced changes by HMRC to the tax relief provided for staff parties. Historically a £150 per head exemption existed for social functions and parties. To be exempt the function must: Be open to all employees. Be...

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Reminder – Claim Working from Home Tax Relief

Reminder – Claim Working from Home Tax Relief

Employees can claim Tax Relief for working at Home due to Coronavirus HMRC have confirmed that employees can claim tax relief for working at home due to Coronavirus for the 2020/21 and 2021/22 and tax years. HMRC have an online portal allowing individuals to make the...

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What does ‘Freedom Day’ mean for employers?

What does ‘Freedom Day’ mean for employers?

Legal restrictions in place in respect of Covid-19 will start to end on Monday 19 July in England, Wales and Scotland.  Each country is taking a slightly different approach to timings and some of the detail around what is required, but in all countries, 'Freedom Day'...

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Update to the Trust Register

Update to the Trust Register

It has been a requirement for some time that if a trust is liable to pay any tax, then the trust must be registered on the HMRC Trust Register. HMRC have now released guidelines outlining the requirements for trustees of non-taxable trusts to also register. The trial...

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Beat the tax rises!

Beat the tax rises!

'Beat the tax rises!" - this was the headline of one of the next day articles after the Chancellor’s Budget earlier in the year. It was an article by Taha Lokhandwala, which started very sensibly by starting up the freezing of allowances and the likelihood that some...

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Tax efficient benefits in kind

Tax efficient benefits in kind

A number of benefits can be provided by employers to their staff without creating a taxable benefit in kind on the employee. These include: Trivial benefits in kind –the benefit cannot be cash, the cost does not exceed £50 and it is not provided in recognition of...

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Events

The latest tax, employment, business and economic news affecting businesses and individuals alike.