Firm News

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

Lambert Chapman reaction to Spring Statement 2022

Lambert Chapman reaction to Spring Statement 2022

Exactly two years since the first lockdown was announced, all eyes were on The Chancellor, Rishi Sunak, as he took to the despatch box in the House of Commons to deliver his Spring Statement 2022. Scroll down for reactions from Lucy Orrow, Craig Weavers, Sean Wiegand,...

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NIC and PAYE Changes and Deadlines for Employers

NIC and PAYE Changes and Deadlines for Employers

5 April marks the end of one tax year and the 6 April indicates the beginning of a new one. It therefore feels like a good time to remind employers of changes that are coming into effect this April and deadlines that will be due. Firstly, a reminder of PAYE deadlines...

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Selling or gifting residential property

Selling or gifting residential property

The selling or gifting of residential property will be a Capital Gains Tax (CGT) event, whereby the gain will normally be calculated by reducing the market value/selling price for the cost of acquisition and for other allowable expenditure. The main relief from CGT...

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Year-end tax planning 2021/22

Year-end tax planning 2021/22

5th of April will mark the end of the current 2021/22 tax year and it is therefore important, at the current time, to review an individual’s business and taxation affairs while there is still an opportunity to do so. Outside of taxation considerations, we would...

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2021 Crop Valuations

2021 Crop Valuations

Reduced wheat production around the world has resulted in the surge in crop prices in the last quarter or so of 2021.  This may continue to be the case in 2022 if the crisis in western Ukraine persists. I am beginning to see the increased crop prices impact as we are...

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Making Tax Digital for VAT

Making Tax Digital for VAT

Most UK businesses that were VAT registered on a compulsory basis were obliged to sign up for 'Making Tax Digital' (MTD) from April 2019. At that time, there were exemptions available including any person or entity that had a voluntary VAT registration. Fast forward...

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Tax on Airbnb Income

Tax on Airbnb Income

More and more individuals are now renting out rooms in their properties through intermediaries such as Airbnb. Often, it will provide an easy way to generate additional income. Many individuals may not realise that there can be taxation implications in these...

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Tax reliefs when you sell a business

Tax reliefs when you sell a business

Over the years, a number of different reliefs have been introduced and subsequently replaced, with the intention of providing a lower taxation rate to an entrepreneur selling their business. It was felt unfair that someone who had built up a business over a number of...

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Events

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