Firm News
A little bit of everything, written by the Lambert Chapman team. Join in the conversation, we would love to hear from you.
Self-Employment Income Support Scheme fifth grant (SEISS)
HMRC have now issued guidance for the Self-Employment Income Support Scheme fifth grant (SEISS). As predicted, the grant will be determined by a turnover test that compares the self-employed income in the 2021 tax year compared to pre-coronavirus trading. The 2021...
How secure are your SEISS or CJRS claims?
Nick Forsyth looks at the potential problems as we (hopefully) approach the end of the pandemic With the vaccination programme showing some light at the end of the tunnel, we might see some normality returning to our lives and work patterns as the summer approaches...
UEFA Euro 2020 – the dice edition
Just prior to the 2018 World Cup, we decided to host an alternative running of the tournament at our UK200Group Professional Breakfast at the Braintree Golf Club, Stisted. The results of the matches were decided by our guests, who were rolling dice in order to...
Forensic Accountants: Tax Based Appointments
As Forensic Accountants, many of the instructions we take from solicitors, who use our services, relate to the delivery of a report on the tax implications of the disposal of properties within divorce proceedings. This is perhaps a reflection of the fact that so many...
Gift Hold Over Relief on Divorce
Gift Hold Over Relief allows the gain on a transfer to be deferred when a qualifying business asset is gifted. The relief defers the gain for the donor by reducing the base cost of the asset in the hands of the donee. It is noted that gift relief is restricted for any...
Tax Planning through Wills and Variations
An individual’s Will and the use of Deeds of Variation potentially allow mitigation of Inheritance Tax liabilities on the person’s death. Planning factors to minimise Inheritance Tax liabilities include: Utilising the spouse exemption. This potentially allows assets...
Business Acquisitions and Disposals
We have recently assisted with another successful business acquisition on behalf of a client. Despite the uncertainty caused by Covid, corporate finance activity remains strong and we are finding a significant number of business acquisitions and disposals are taking...
Expert Witness Services
As an Expert Witness, Paul Short has been required to provide his opinion to assist the Court in making its decision. The majority of our assignments in this sector relate to: Divorce Civil Disputes We will often be engaged to report on business valuations or the...
Inheritance Tax – The Residence Nil Rate Band
The Residence Nil Rate Band for Inheritance Tax provides a greater death nil rate band if an individual dies and leaves their family home to their children, grandchildren, step children or adopted children. The normal Nil Rate Band is increased from £325,000 to...
Partnership Agreements for Farms
Many businesses run as partnerships, whereby a number of individuals will be involved in running the business. In this article, I am going to look at Partnership Agreements specifically for Farms. For farming partnerships, the following common factors will often...
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The latest tax, employment, business and economic news affecting businesses and individuals alike.
