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News

LB Promotions December
04 December 2014

LB Promotions December

LB Promotions December

Welcome to LB Promotions: December 2014

LB Promotions allows our clients to offer exclusive promotions and discounts. As a subscriber you will receive a monthly email listing various…

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Autumn Statement 2014
03 December 2014

Autumn Statement 2014

Below is a summary of the main points, which may affect you from either a business or personal perspective. This summary does not go into…

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CORPORATION TAX
27 November 2014

CORPORATION TAX

CORPORATION TAX QUARTERLY INSTALMENT PAYMENTS

Most companies pay corporation tax 9 months after the end of their accounting period. However, companies with profits in excess of £1,500,000 a…

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NIC RENTAL INCOME
24 November 2014

NIC RENTAL INCOME

NO NIC DUE ON RENTAL INCOME

Class 2 NICs are payable by the self-employed at the rate of £2.75 per week, although there is a small earnings exemption…

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NIC ON SALESMANS COMMISSION
18 November 2014

NIC ON SALESMANS COMMISSION

Unlike income tax under PAYE, Class 1 National Insurance Contributions (NICs) are not calculated on an employee’s cumulative earnings but on the earnings for that week…

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IPSWICH OFFICE 5th ANNIVERSARY!
17 November 2014

IPSWICH OFFICE 5th ANNIVERSARY!

LB GROUP CHARTERED ACCOUNTANTS IPSWICH OFFICE 5th ANNIVERSARY!

LB Group – Ipswich  office are celebrating its 5th anniversary party this Thursday 20 November 12:30 – 3:00 at our Ipswich…

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PENSION RULES FOR ESTATE PLANNING
17 November 2014

PENSION RULES FOR ESTATE PLANNING

USING THE NEW 2015 PENSION RULES FOR ESTATE PLANNING

As mentioned in previous editions of this newsletter, current rules state that pension annuities lapse on the…

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Movember
11 November 2014

Movember

Members of LB Group staff take on Movember! Raising money for The Movember Foundation. The leading global organisation committed to changing the face of men’s health. Please follow us…

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COMPANY CAR FUEL RATES
06 November 2014

COMPANY CAR FUEL RATES

COMPANY CAR ADVISORY FUEL RATES

The suggested reimbursement rates for employees’ private mileage in their company cars are reviewed each quarter on 1 March, 1 June, 1…

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CHILD BENEFIT CHARGE
05 November 2014

CHILD BENEFIT CHARGE

HIGH INCOME CHILD BENEFIT CHARGE

Child benefit started to be clawed back from 9 January 2013, but only in cases where the claimant or their partner received income…

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LB Promotions November 2014
03 November 2014

LB Promotions November 2014

Welcome to LB Promotions November 2014

LB Promotions allows our clients to offer exclusive promotions and discounts. As a subscriber you will receive a monthly email listing various…

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IPSWICH OFFICE ANNIVERSARY
03 November 2014

IPSWICH OFFICE ANNIVERSARY: PRESS RELEASE

IPSWICH OFFICE ANNIVERSARY

IPSWICH OFFICE ANNIVERSARY

LB GROUP CHARTERED ACCOUNTANTS’ IPSWICH OFFICE CELEBRATES ITS 5TH

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NO TAX DEDUCTION
03 November 2014

NO TAX DEDUCTION

NO TAX DEDUCTION FOR SPONSORSHIP

A recent case before the Court of Appeal has determined that a particular company was not allowed tax relief on their sponsorship of…

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FLEXIBLE PENSIONS
23 October 2014

FLEXIBLE PENSIONS

FLEXIBLE PENSIONS TO GO AHEAD IN 2015

In his March 2014 Budget, the Chancellor announced that there would be significant changes to allow individuals to have greater access to…

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RTI PENALTIES DELAYED
20 October 2014

RTI PENALTIES DELAYED

RTI PENALTIES DELAYED AGAIN

As advised in earlier newsletters, automatic in-year RTI late filing penalties start on 6 October 2014. However, HM Revenue and Customs have recently announced…

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Property Finance
09 October 2014

Property Finance

Are you looking for new sources of property finance?

Are you certain your funding is competitive?

Here at LB Corporate Finance we have many clients involved in the…

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LB Promotions October 2014
02 October 2014

LB Promotions October 2014

Welcome to LB Promotions: October 2014

LB Promotions allows our clients to offer exclusive promotions and discounts. As a subscriber you will receive a monthly email listing various offers.

Hamber…

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XERO PRESS RELEASE
30 September 2014

XERO PRESS RELEASE

BUSINESS OWNERS…Ever wondered what the Cloud is?? And how it works??

Chelmsford based Chartered Accountants LB Group have partnered with Xero to…

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Furnished Holiday Properties
25 September 2014

Furnished Holiday Properties

Over the summer, many of us will have stayed in a holiday cottage, either in the UK or abroad, and may now be thinking that it would…

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Selling your Business
22 September 2014

Selling your Business

Do you want to sell your business but don’t know how?

Do you know what your business is worth and how to contact possible buyers?

LB Group knows your…

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TAX RELIEF
22 September 2014

TAX RELIEF

TAX RELIEF FOR DONATING YOUR OLD SUIT TO CHARITY!

HMRC  has amended its guidance for charities that claim Gift Aid on the sale of donated goods. Gift Aid normally…

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PAYE tax code
17 September 2014

PAYE tax code

Cracking the Code: Understanding your PAYE tax code

Welcome to the LB Group ‘MONEY TALKS’ where every month a Director at LB Group, a firm of Chartered Accountants,…

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CLASS 2 NICs COLLECTION
17 September 2014

CLASS 2 NICs COLLECTION

CHANGES TO CLASS 2 NICs COLLECTION

The National Insurance Contributions Bill was published on 18 July 2014. It will introduce legislation (which was consulted on last year)…

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BUSINESS TRAVEL
15 September 2014

BUSINESS TRAVEL

BUSINESS TRAVEL FOR SELF EMPLOYED TRADERS

Following a recent case in front of the Upper Tier Tax Tribunal involving a doctor with a private practice (Dr Samadian), HMRC are…

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Andrew Dix
09 September 2014

Andrew Dix

Introducing Andrew Dix MIPA, MABRP Director of LB Insolvency

The Directors of LB Group are pleased to announce Andrew Dix MIPA MABRP as LB Insolvency’s new Director who will be working…

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TAX SAVING
08 September 2014

TAX SAVING

Are You missing out on a tax saving? See the latest R&D stats released for the period 2012-2013

HMRC have estimated that over 150,000 companies in the UK…

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RULES ON EMPLOYEES TRAVEL
08 September 2014

RULES ON EMPLOYEES TRAVEL

CONSULTATION ON POSSIBLE CHANGES TO RULES ON EMPLOYEE’S TRAVEL

Many employees and employers find the current tax rules for dealing with travelling and subsistence claims difficult…

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RTI PENALTIES
03 September 2014

RTI PENALTIES

RTI PENALTIES START OCTOBER 2014

Earlier this year, HMRC announced that the penalties for late returns of payroll information (RTI) would start from October 2014 instead of April…

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LB PROMOTIONS SEPTEMBER
01 September 2014

LB PROMOTIONS SEPTEMBER

LB Promotions September allows our clients to offer exclusive promotions and discounts.

Climbing Trees – Free online marketing analysis for first 10 companies!
Simply tell…

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IHT RELIEF FOR FARMERS
26 August 2014

RELAXATION IN PLANNING LAW MAY IMPACT ON IHT RELIEF FOR FARMERS

Recent relaxations in planning rules mean that, where the necessary conditions are met, farm buildings may be converted into…

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TAX RELIEF FOR A PORSCHE
21 August 2014

TAX RELIEF FOR A PORSCHE…

100% TAX RELIEF FOR A PORSCHE!

It’s not all doom and gloom this month!  As you may be aware motor cars used in a business that…

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WAIVER OF DIVIDENDS
18 August 2014

WAIVER OF DIVIDENDS

WAIVER OF DIVIDENDS IN FAVOUR OF WIFE CAN BE TAXED ON THE HUSBAND

A recent case before the Tax Tribunal reminds us that where the right to dividends is waived…

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LLP MEMBERS
11 August 2014

LLP MEMBERS

LLP MEMBERS MAY NEED TO GO ON THE PAYROLL

Yet another attack on the use of LLPs concerns the employment status of certain members.

Up until 6 April 2014…

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PARTNERSHIPS WITH CORPORATE MEMBERS
07 August 2014

PARTNERSHIPS WITH CORPORATE MEMBERS

HMRC DON’T LIKE PARTNERSHIPS WITH CORPORATE MEMBERS

Last summer a consultation document was published setting the proposed counteraction by HMRC of artificial profit and loss allocation schemes…

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LB Promotions August
04 August 2014

LB Promotions August

LB Promotions allows our clients to offer exclusive promotions and discounts.

Aquabridge HR Online Handbook – 10% discount on the set up cost…

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Proud to sponsor
28 July 2014

Proud to sponsor

LB Group are proud to sponsor Spinnaker’s OSCAR Dragon Boat Race 2014, we wish you the best of luck 🙂

On the 16th September 2014 the OSCAR campaign…

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VAT RETURN ERROR
21 July 2014

VAT RETURN ERROR

WHAT SHOULD YOU DO IF YOU FIND AN ERROR IN AN EARLIER VAT RETURN?

If you identify an error in an earlier VAT return, you can correct it…

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Latest Ipswich recruit
16 July 2014

Latest Ipswich recruit Sarah Goddard

LB GROUP IPSWICH TEAM GROWS FROM STRENGTH TO STRENGTH

LB Group Chartered Accountants in Ipswich, a Top 75 firm of Accountants,…

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VAT FUEL SCALE CHARGES REDUCED
14 July 2014

VAT FUEL SCALE CHARGES REDUCED
We are so accustomed to rising motor taxes that it was a nice surprise to see the VAT fuel scale charges reduced (in respect of petrol…

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PRIVATE FUEL
10 July 2014

PRIVATE FUEL

SHOULD YOU REIMBURSE YOUR EMPLOYER FOR PRIVATE FUEL?

In addition to the benefit in kind charged on directors and employees who are provided with a car for private use,…

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HMRC SEEKING POWER
07 July 2014

HMRC SEEKING POWER

HMRC SEEKING POWER TO RAID TAXPAYERS’ BANK ACCOUNTS

Another controversial measure is being proposed by the Government to give HMRC the power to recover unpaid tax over…

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TAX AVOIDANCE CRACKDOWN
03 July 2014

TAX AVOIDANCE CRACKDOWN

TAX AVOIDANCE CRACKDOWN AFFECTS “FOLLOWERS” OF FAILED SCHEMES

There have been a number of high-profile celebrities who have been involved in tax avoidance schemes that have been successfully…

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LB Promotions July
01 July 2014

LB Promotions July

LB Promotions allows our clients to offer exclusive promotions and discounts.

Broad Oak Electrical Services – 10% discount on all electrical services
Specialist providers…

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Birketts Race for Business 2014
27 June 2014

Birketts Race for Business 2014

Congratulations to the LB members (Anthony Burrell, Philip Menown & Craig Spratt) for taking part in this years READ MORE

NATIONAL INSURANCE
23 June 2014

NATIONAL INSURANCE

PAYMENT OF SELF-EMPLOYED CLASS 2

Class 2 National Insurance contributions for the tax year 2014/15 is charged at the rate of £2.75 per week. It is possible for those…

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CGT ENTREPRENEURS RELIEF
17 June 2014

CGT ENTREPRENEURS RELIEF APPLIES UP TO 3 YEARS FOLLOWING CESSATION

Capital gains tax (CGT) entrepreneurs relief provides for a 10% rate on the disposal of a business, including a sole trade…

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New Connect System
12 June 2014

HMRC are closing in on Tax Evasion using New Connect System

HMRC have invested almost £1billion over the period of the Spending Review in improving…

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CAPITAL GAINS TAX TO BE PAID BY NON-RESIDENTS ON UK RESIDENTIAL PROPERTY
09 June 2014

CAPITAL GAINS TAX TO BE PAID BY NON-RESIDENTS ON UK RESIDENTIAL PROPERTY

As previously announced, it has been proposed that from 6 April 2015 capital gains tax is to be paid…

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Introducing LB Promotions!
02 June 2014

Introducing LB Promotions!

We are proud to announce the launch of our all new LB Promotions!
LB Promotions allows our clients to offer exclusive promotions and discounts.

June Promotions

Exacom…

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Research and Development Tax Relief, Chris Annis, Director of LB Group explains all
07 May 2014

Chris Annis, Director of LB Group explains all about Research and Development Tax Relief…

What is  Research and Development Tax Relief worth? Claims range from several thousand pounds for smaller…

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LB GROUP LAUNCHES NEW WEBSITE!
22 April 2014

LB Group are very excited to announce the launch our new website lbgroupltd.com.

The site details our service offerings and how we can assist you!

–          Accounting

–          Audit

–          Business Services

–          Cloud…

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LB Group promotions
22 April 2014

We’re  delighted to announce the following LB Group Promotions at our Chelmsford office.

Phillip Menown has been promoted to Accounts Manager

Craig Spratt has been promoted to Audit Manager

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YEAR END PENSION PLANNING
18 March 2014

Take advantage of the pension carry forward rules in order to benefit from any unused allowances from the previous three tax years.  This is generally the difference between £50,000…

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PAYROLL PROCESSING FOR SMALLER EMPLOYERS
18 March 2014

PAYROLL PROCESSING FOR SMALLER EMPLOYERS

RTI – PAYROLL PROCESSING FOR SMALLER EMPLOYERS – CORRECTION

We have previously mentioned that the submission date for Real Time Information (RTI) was to be relaxed for…

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WITHDRAWING FUNDS FROM INSURANCE BONDS
13 March 2014

WITHDRAWING FUNDS FROM INSURANCE BONDS – Single Premium Insurance Bonds can be a very tax efficient investment product as the tax rules allow up to 5% of the capital…

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TAX RELIEF FOR RENEWING “WHITE GOODS” IN LET PROPERTIES
13 March 2014

TAX RELIEF FOR RENEWING “WHITE GOODS” IN LET PROPERTIES – Controversially and without any prior warning HMRC removed the concession that allowed a tax deduction for the replacement of…

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NEW HMRC TAX RESIDENCE INDICATOR TOOL
13 March 2014

NEW HMRC TAX RESIDENCE INDICATOR TOOL – From 6 April 2013 new Statutory tests were introduced to determine whether individuals are resident in the UK or not, generally making…

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GET READY FOR PENSION AUTO-ENROLMENT
13 March 2014

The next big challenge for payroll departments within Small and Medium sized enterprises will be the phasing in of Pension Auto-Enrolment which will require all employers to provide a…

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REAL TIME INFORMATION
10 February 2014

REAL TIME INFORMATION

Real Time Information or RTI was introduced from 6 April 2013 which requires employers to submit payroll data to HMRC on or before wages and salaries are…

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Chartered accountants, Business advisors, Chartered tax advisors

LB GROUP LONDON

Number One
Vicarage Lane
Stratford
London
E15 4HF

Tel: 0208 221 8282
Fax: 0845 834 0896

LB GROUP CHELMSFORD

Swift House
Ground Floor
18 Hoffmanns Way
Chelmsford
Essex
CM1 1GU

Tel: 01245 254 780
Fax: 0845 834 0864

LB GROUP COLCHESTER

The Octagon
Suite E2, 2nd Floor
Middleborough
Colchester
Essex
CO1 1TG

Tel: 01206 867 551
Fax: 0845 834 0897

LB GROUP IPSWICH

Suffolk House
7 Hydra, Orion Court
Addison Way
Great Blakenham
Ipswich, IP6 0LW

Tel: 01473 359 720
Fax: 0845 834 0870

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