Firm News
A little bit of everything, written by the Lambert Chapman team. Join in the conversation, we would love to hear from you.
Acting for Farming Enterprises
I always think that acting for the modern farming family is akin to being the accountant of a commercial industrial trading group in terms of the complexity and challenges. With a farming business, one is likely to encounter: At least one Limited Company but quite...
Managing an estate – what to do when someone dies
HMRC have just updated their guidance “what to do when someone dies”. This is a step by step checklist, which allows you to make sure you have not missed anything. The list includes: Registering the death; Arranging the funeral; Telling the Government about the...
Stress Test the Business – the Muller Index Score
I thought I would revisit one of the tests I do when I review a client’s accounts. I try to look at the threats to a business. What could occur which might imperil the wellbeing of the business? One such danger might be the over-dependence of one customer. I would...
Let down by police handling of Identity Theft
picked up a copy of The Times on Friday 16th August to be greeted by a headline on Page 1 “Firm behind Action Fraud faces sack after betrayal of victims.” I can’t say that I was surprised. As some of you will know, I suffered the indignancy of having my identity...
Finalising end of year Financial Statements
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...
Reverse charge VAT for the Construction Industry
News Update - September 2019: The Government has just announced that it will delay the introduction of VAT Reverse Charging by a year after it was heavily criticised for rushing through the changes without consultation with trade bodies and organisations in the...
Rental Properties – Termination of Lettings Relief
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...
Embrace the power of the Salary Sacrifice Scheme
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....
General Data Protection Regulations (GDPR) – One year on
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...
Electric cars get a huge boost from HMRC from slashed taxes
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...
Events
The latest tax, employment, business and economic news affecting businesses and individuals alike.
