News

Supporting Saint Francis Hospice.

16/12/2022

This year Lipson & Co will be supporting Saint Francis Hospice. A charity that cares for any person, from any faith or cultural background, who have been diagnosed with a serious illness who are living in Havering, Brentwood, Barking and

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Managing Cash Flow in Construction

11/08/2021

Managing cash flow is difficult for any company, but construction cash flow problems are some of the worst. This was made even more difficult with the introduction of the domestic reverse charge in April 2021. We have helped many of our clients

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ATED for non-resident companies

02/02/2023

The Annual Tax on Enveloped Dwellings (ATED) came into effect from 1 April 2013. The tax applies to certain Non-Natural Persons (NNPs) that own interests in dwellings valued at more than £500,000. These provisions affect most companies, partnerships

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Have you utilised 2022-23 IHT allowances and reliefs?

02/02/2023

We wanted to remind you of the Inheritance Tax (IHT) implications of making cash gifts during the current tax 2022-23 tax year that will end on 5 April 2023. You can give away up to £3,000 worth of gifts each tax year. This is known as your annual

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CGT reliefs much reduced from April 2023

02/02/2023

The annual exempt amount applicable to Capital Gains Tax (CGT) is to be more than halved from April 2023. This means that the exempt amount will be reduced from £12,300 to £6,000 from April 2023 before being further reduced to £3,000 from April 2024.

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Using the Gift Aid scheme

02/02/2023

The Gift Aid scheme is available to all UK taxpayers. The charity or Community Amateur Sports Clubs (CASC) concerned can take your donation and, provided all the qualifying conditions are met, reclaim the basic rate tax allowing for an extra 25p of

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Business rates list closing soon

02/02/2023

Business rates are charged on most non-domestic premises, including most commercial properties such as shops, offices, pubs, warehouses and factories. Some properties are eligible for discounts from the local council on their business rates. This is

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Setting up a salary sacrifice arrangement

02/02/2023

A salary sacrifice arrangement is an agreement to reduce an employee’s entitlement to cash pay, usually in return for a non-cash benefit. The tax and NIC advantages of certain benefits provided as part of a salary sacrifice arrangement were removed

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Protecting your business capital

30/01/2023

All business owners, but predominantly retailers, leisure and entertainment trades, will have seen their hard-won capital all but exhausted by the needs to meet fixed costs when income generation has been restricted or eliminated by lock-down

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VAT – unpaid tax collectors

30/01/2023

If you are required to register your business for VAT purposes you are joining that reluctant band of business owners that are obliged to collect tax for HMRC. The amount of VAT you have added to your sales, less VAT you have paid out on qualifying

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New Green Freeports for Scotland

26/01/2023

The UK and Scottish governments have jointly announced that Inverness and Cromarty Firth Green Freeport and Forth Green Freeport have been successful in their bids to establish two new Green Freeports in Scotland. Each of these Freeports will be

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Corporation Tax changes April 2023

26/01/2023

The Corporation Tax main rate will increase to 25% from 1 April 2023 for companies with profits over £250,000. A Small Profits Rate (SPR) of 19% will also be introduced from the same date for companies with profits of up to £50,000 - ensuring these

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New business Energy Bills Discount Scheme

26/01/2023

The new business Energy Bills Discount Scheme will replace the current Energy Bill Relief Scheme which is coming to an end on 31 March 2023. The new scheme will offer support to eligible non-domestic energy customers, including UK businesses, the

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R&D tax consultation launched

26/01/2023

There are currently two schemes for claiming R&D tax relief - the Small or Medium-sized Enterprise (SME) Scheme and the R&D Expenditure Credit (RDEC) Scheme for large companies. The amount of R&D tax relief available depends on the total

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Five more tax avoidance schemes named by HMRC

26/01/2023

HMRC has powers introduced in the Finance Act 2022 to name tax avoidance schemes and their promoters. Under this legislation HMRC can name avoidance scheme promoters, publish details of the way they promote tax avoidance schemes and name the schemes

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What is a Post Transaction Valuation Check?

26/01/2023

A Post Transaction Valuation Check (PTVC) can be requested from HMRC for an individual to work out a Capital Gains Tax liability or for companies to calculate Corporation Tax liability on chargeable gains. The request for a PTVC should be made using

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Ways you can count on us…

23/01/2023

Leaving politics to one side, how can we deal with the current pressures on businesses? Rising costs, reducing revenues as the cost-of-living issues impact activity, increasing taxes - Corporation Tax will include a main rate of 25% from the 1 April

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Tax Diary February/March 2023

19/01/2023

1 February 2023 - Due date for corporation tax payable for the year ended 30 April 2022. 19 February 2023 - PAYE and NIC deductions due for month ended 5 February 2023. (If you pay your tax electronically the due date is 22 February 2023) 19

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Lipson & Co
88 North Street
Hornchurch
Essex
RM11 1SR
 
01708 300410

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www.lipsonandco.com

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