Firm News
A little bit of everything, written by the Lambert Chapman team. Join in the conversation, we would love to hear from you.
Disposing of your Business
An owner may decide to dispose of a business for a number of reasons. This may include for retirement, family reasons or due to trading or cashflow issues. The timing of the exit will be important. In addition the taxation consequences will need to be considered to...
Construction Industry Domestic Reverse Charge (DRC) VAT
The Construction Industry Domestic Reverse Charge (DRC) was brought in on 1 March 2021 and changes the treatment of VAT in the construction industry. It was brought in as HMRC felt there was a risk in the construction industry of sub-contractors charging VAT on their...
The Super Deduction of 130%
Budget 2021 introduced a new super deduction of 130% on qualifying capital expenditure incurred by companies between 1 April 2021 and 31 March 2023. Qualifying expenditure includes plant, equipment and also fixtures within properties. The Government’s intention is to...
COVID Business Support Extensions
So here we are a year later and what a year it has been. We were introduced to the “Furlough” scheme back in March 2020 and whilst we hoped this would have been a temporary support scheme for Employers, we find ourselves subject to another extension of the scheme...
Act Now! Form P11D – Tax on Company Benefits
P11D – Employers return of Directors / Employee’s Expenses and Benefits in Kind It is time to prepare the Forms P11D and P11D(b) for the 2020/21 tax year. The forms are the employer’s responsibility. They are required for directors or employees who are provided with...
Budget 2021 – Setting out our road to recovery
Budget 2021 - our roundup of the announcement on 3rd March 2021: In his second Budget and 14th fiscal announcement since succeeding Sajid Javid in February 2020, the Chancellor has attempted to strike a balance between continuing to prop up the businesses worst...
Budget 2021 Predictions: Wither on the Vine
Already the seers are lining up to offer their predications on what will be included in the Chancellor’s Budget 2021 on 3 March. My mantra is always “never prophesy, especially about the future” but as a tax advisor, this has sometimes to be more honoured in the...
Lessons from Lambert Chapman’s Superbru Football Competition
Last year I entered our in-house Superbru Football Competition run by our indefatigable quiz captain, Richard 'Tricky' Hamilton. One has to predict the Premiership football results each week. I therefore broke one of my deeply held convictions: “never prophesy,...
Working to get more support for SMEs and Excluded UK
We are deeply concerned about the plight of some smaller businesses across the UK including c. 3m self-employed directors of limited companies. Known as Excluded UK, many are not eligible for the government’s existing grants and schemes and have therefore been...
The 5 Key Things SMEs should do in January
It’s been almost a year since the first lockdown and arguably, we are all getting used to staying at home, remote working and the restrictions being placed on all aspects of our lives. But that doesn’t make it easier, if anything, we are weary as the pandemic and its...
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The latest tax, employment, business and economic news affecting businesses and individuals alike.
