Firm News
A little bit of everything, written by the Lambert Chapman team. Join in the conversation, we would love to hear from you.
Are you using the correct National Insurance category letters?
In this article, I am going to look at National Insurance (NI) category letters, which is an area often overlooked by employers. In my 8 years of running payrolls, I see the same issues around which letter should be assigned to certain employees and so I will cover...
Euro 2024 played out at our Professional Networking Breakfast
You heard it here first – Croatia will win the Euros and England will get knocked out on penalties. Well, one of those statements seems more likely than the other but at least none of the England players were abused for missing as it went to 7 all before the deciding...
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 2023-24 tax year. The Forms are the employer’s responsibility. They are required for directors and employees who are provided with benefits or for whom you pay or reimburse non-deductible expenses. The Forms...
Supporting the Maldon Mud Race 2024
The Lambert Chapman Maldon office is proudly supporting this year's *world famous* Maldon Mud Race which is taking place on Sunday 2nd June at Promenade Park. The charity event is sold out and 300 fundraising competitors will sludge through the River Blackwater to the...
Capital Gains Tax on the sale of residential property – the Angela Rayner affect
Recently, the headlines have been focusing on the disposal of politician Angela Rayner’s house and whether or not she correctly calculated her Capital Gains Tax (CGT) liability. Our Tax Partner, Lucy Orrow, looks at some of the main points which have been raised in...
Tax Changes 2024/25
As we enter the 2024/25 tax year, below is a list of key tax changes that came into effect from the 6th April 2024. Individuals The personal allowance remains unchanged at £12,570. The personal allowance is the amount of income a person can earn before paying tax. The...
State pension deadline to make voluntary contributions
If you are a man born after 5 April 1951 or a woman born after 5 April 1953, you have until 5 April 2025 to pay voluntary contributions to make up for gaps between tax years April 2006 and April 2016, if you’re eligible (see below). This extension to the deadline was...
Furnished holiday let property changes
In the Spring Budget 2024, the Government announced changes that will affect individuals who own a Furnished Holiday Let (FHL), effective from 6 April 2025. From this date, furnished holiday letting businesses will be treated in the same way as other property rental...
Abolition of the non-domiciled regime
In the recent Budget on 6 March 2024, the Government announced that it intends to abolish the current tax treatment for UK resident, non-domiciled individuals (non-doms) from 6 April 2025. The non-dom regime has been part of the UK’s tax system for more than 200...
Spring Budget 2024 – analysis from our team
Vote-winning announcements are always expected from a Chancellor’s Budget in an election year. Despite the stagnant economy and limited fiscal headroom, Jeremy Hunt still announced a few tax cuts and other surprises. Please find to follow a round-up of Spring Budget...
Events
The latest tax, employment, business and economic news affecting businesses and individuals alike.
