Firm News
A little bit of everything, written by the Lambert Chapman team. Join in the conversation, we would love to hear from you.
Should you have an Audit of your Financial Statements?
The objective of an Audit of your financial statements is to receive an independent opinion as to whether they show a true and fair view. There are many advantages of engaging us to undertake a full statutory audit including: • Providing reassurance to your external...
Lambert Chapman LLP advises Mintsoft on Sale to The Access Group
Lambert Chapman LLP continues to see Corporate Finance activity levels increase with a further deal completed during January 2020. Chelmsford based Mintsoft specialises in providing cloud based inventory and order fulfilment solutions, helping business control stock...
Inheritance Tax – MPs suggest radical revamp
Inheritance tax usually kicks in when the value of an estate exceeds the tax-free threshold of £325,000 and each year, an increasing amount of estates are having inheritance tax deducted before what's left is distributed to any beneficiaries or causes. Total duties...
IR35 – Personal Service and Substitutions
When considering IR35 -for there to be a contract of employment in place, there are three main elements that need to be present. These are: Control – There must be control over the manner in which the contract work is completed. Mutuality of obligation – there must...
IR35 – Current Position
At the present time, IR35 in the private sector is due to change 6th April 2020. The changes will mean that the engager will be making the decision as to whether the Personal Service Company (PSC) is in fact a disguised employee, and therefore caught under the IR35...
Audit Challenges for 2020
Following the latest audit quality review carried out by the Financial Reporting Council, the principal weakness highlighted by the report was audit firm’s shortcomings in challenging management effectively. Failures were identified in a number of areas including...
Relevant Life Policies
As part of my service to clients, I try and check out, periodically, that the client has strategies for: Retirement income Critical illness cover Life cover Income replacement It is nice to have all bases covered but sometimes one has to prioritise, especially where...
Cash Flow Statements – The Neglected Friend
When I discuss a set of financial statements with a business owner, an often uttered lament is “I have made this profit but where’s the cash gone?”. In days of your, it was a requirement that a set of financial statements would include a cash flow statement as an...
Annual Christmas Video 2019/20
The Partners at Lambert Chapman LLP swap their Tax Returns for Torquay to present a special, festive edition of Fawlty Towers! On behalf of all the Staff and Partners at Lambert Chapman LLP, may we take this opportunity to wish you a very Merry Christmas and a happy...
Update: The Trouble with Child Benefit
We are well aware of the charge on high earners for the Child Benefit allowance, which has been in place since 2013. This means that those earning over the £50,000 have a charge which means that the benefit is completely lost for those earning more than £60,000....
Events
The latest tax, employment, business and economic news affecting businesses and individuals alike.
