Firm News
A little bit of everything, written by the Lambert Chapman team. Join in the conversation, we would love to hear from you.
Hindsight in a Business Valuation
I recently came across a Business Valuation case where the accountant had provided a pretty solid calculation, in my view. The instructing solicitor for the other side queried why the valuer had seemingly ignored the projections prepared by the company in producing...
Exceptional Circumstances for Stamp Duty Land Tax
Currently where you purchase a new home prior to selling your existing home, you are required to pay the higher rate of Stamp Duty Land Tax on the new purchase. However on sale of the old property, you are, subject to the following rules, eligible to claim a refund...
QuickBooks Tips and Shortcuts – Making life simpler for you
Introduction to QuickBooks: QuickBooks is an accounting software package developed and marketed by Intuit which can be used to manage income and expenses and keep track of the financial health of your business. You can use it to invoice customers, pay bills, generate...
Coronavirus Job Retention Scheme (CJRS) – Changes around the corner
Within the Lambert Chapman Payroll Department to date, we have seen around 220 Employers use the Coronavirus Job Retention Scheme (CJRS) to furlough their employees. This has resulted in around 850 employees being furloughed since March and claims have been submitted...
Coronavirus Statutory Sick Pay (CSSP) Scheme
As part of the Government Support package for Employers, it was agreed back in March that they would be able to reclaim 2 weeks Statutory Sick Pay (SSP) for employees specifically affected by Covid19. Ordinarily, Employers have not been able to reclaim SSP paid out in...
Principal Private Residence Ownership and Reliefs
As you will no doubt be aware, there have been changes introduced from 6 April 2020 which require reporting for tax purposes a lot earlier than normal. If you have made a taxable gain on a residential property, you are now required to report this to HMRC within 30...
UK Residential Property Taxes – Changes from 6 April 2020
Landlords and owners of second homes who have to pay Capital Gains Tax (CGT) on the sale of their additional property, now have to report and pay the tax within 30 days from 6 April 2020. Private Residence Relief allows people to sell their main residence without...
Tax relief for working at home
When it comes to working arrangements during the current Coronavirus lockdown, you have two options - continue working from home if you are able or return to the workplace if you cannot work from home and it is safe to do so. Consequently those who can work from home...
How will the self-employment income support scheme work?
The Self-Employment Income Support Scheme (SEISS) is a temporary scheme that will enable those eligible to claim a taxable grant worth 80% of their average trading profits up to a maximum of £7,500 (equivalent to three months’ profits) in a single instalment. Given...
Insurance: A practical checklist to help SMEs prepare for returning to work post lockdown
Welcome to our practical checklist to help you prepare your business for what is coming next as we adapt to the implications on our lives, both professionally and personally, due to the coronavirus pandemic and resulting crisis. Here we look at insurance. Use the...
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The latest tax, employment, business and economic news affecting businesses and individuals alike.
