Firm News
A little bit of everything, written by the Lambert Chapman team. Join in the conversation, we would love to hear from you.
Raising the Higher-Rate Tax Threshold to £80k
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...
Corporate Quiz in aid of Helen Rollason Cancer Charity
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...
Common misconceptions relating to Rental Income from Residential Property
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...
Client Case Study: Residence and a reminder to check your status
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...
Divorce and the family home
Much is made of the reliefs available to spouses during the tax year of separation (see previous article Separation & Divorce) but what about afterwards? Particularly where children are included in the family unit, property can be an important asset in any...
Financial Mentoring – the listening ear you might need
At a recent UK200Group event in London, I was discussing the demand that was in the marketplace for services like Financial Mentoring. The person to whom I was chatting agreed that it wasn’t strong but that was probably because clients didn’t recognise what it was....
Essex Business Soccer 6’s (EBS6) roundup 2019
As holders, Lambert Chapman entered a team into the second Essex Business Soccer 6’s (EBS6) that was held at Chelmer Park on 21 June. It followed a similar format to last year’s tournament with the sides being split into groups and then playing round robin matches...
Inheritance Tax: Lifetime Gifts
The Office of Tax Simplification (OTS) have issued this month the results of a review of Inheritance Tax which was requested by the Chancellor in January 2018. Their initial findings released in November 2018 determined that around 5% of all Estates each year are...
Lucy Orrow qualifies as Trust and Estates Practitioner (TEP)
We would like to congratulate our Senior Tax Manager Lucy Orrow for successfully completing her STEP Diploma in Trusts & Estates and qualifying as a Trust and Estates Practitioner (TEP). Members of STEP include the most experienced and senior practitioners in the...
Incorporating your Rental Business
With the introduction and growing restriction of the Mortgage Interest Relief for personal rental businesses, many individuals are considering incorporating. Although there are tax savings to be had by holding rental property in a limited company, it may not be a...
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The latest tax, employment, business and economic news affecting businesses and individuals alike.
