Firm News
A little bit of everything, written by the Lambert Chapman team. Join in the conversation, we would love to hear from you.
Autumn Statement 2023 – analysis from our team
Chancellor Jeremy Hunt used his Autumn Statement to deliver '110 growth measures'. With a 2% cut to national insurance and making the full expensing capital allowance scheme permanent, the Chancellor has certainly set the scene for an election year. Please find to...
Managing cashflow
An important saying in business is that ‘cash is king’ as a company can be profitable but can still run out of cash. Profits should ultimately produce cash but there can be significant delays in this being realised and therefore managing cashflow is essential to...
Time to tackle your self assessment tax return – no excuses!
The self assessment tax deadline is fast approaching, with returns for the period covering 6th April 2022- 5th April 2023 due for filing by 31st January 2024. Although it seems a long way off, the deadline will be here before you know it. Is your tax return already...
Tax changes announced in 2023
We are heading towards another Autumn Statement 0n 22 November 2023, but what about tax changes which have already been announced? Capital Gains Tax Allowances When you sell an asset and make a profit, if capital gains tax is due, allowances of £12,300 used to be...
A Guide to the Companies House Reforms
Prepare Your Business for the Companies House Reforms
Withdrawal of tax relief for EU and EEA charities and Community Amateur Sports Clubs
From 15 March 2023, income tax relief is being withdrawn on donations made to EU or EEA charities and Community Amateur Sports Clubs (CASCs). This will mean that income tax relief will no longer be available to claim against taxable income on tax returns from this...
Taxation of holiday accommodation
As part of their diversification plans, farms might consider providing camping or glamping facilities and the provision of holiday accommodation in existing buildings and cottages, but have you also considered the taxation of holiday accommodation? Unless a...
Farm Diversification
Many farming businesses continue to face uncertainty. Diversification allows a farm to produce alternative sources of income, potentially reducing the risk on a specific sector. The range of activities for diversification continues to increase with the sector opening...
HMRC issuing nudge letters for Business Asset Disposal Relief (BADR) claims
HMRC are sending nudge letters to Business Asset Disposal Relief (BADR) claimants, who have made a claim within their 2021-22 Tax Returns. HMRC believe these claimants may have exceeded their lifetime allowance. Previously known as Entrepreneur’s Relief, BADR is an...
Gift Aid
We all like to help local charities and as we near the World famous Maldon Mud Race on 14 May 2023, which has raised over £30,000 and broken countless washing machines over the years, now is a good time to look at the tax opportunities that come from Gift Aid... Gift...
Events
The latest tax, employment, business and economic news affecting businesses and individuals alike.
