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Latest News

Welcome to the latest news section of our website, providing company updates as well as developments from the accounting sector.

Latest News

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Recent blog posts
01
Nov

Tax payment reminders and updates - November 2019

Posted on in Tax
PAYE & National Insurance Employers PAYE & NI payments (including construction industry payments) for month ending on the 5th November are due for payment 22nd November via electronic payment (payment should always be made and cleared on the last working day before the due date). Late paym... Continue reading
Last modified on
Hits: 78
01
Nov

Isaac Gilbert passes his AAT

Posted on in LBW News
We would like to pass on our congratulations to a member of our team, Isaac Gilbert, on becoming a member of The Association of Accounting Technicians (MAAT).  Isaac Joined LBW in February 2015 having already started his AAT journey in December 2014. As with all of our trainees, we provided fu... Continue reading
Last modified on
Hits: 64
01
Nov

Off-payroll working: How IR35 rules affect the private sector

Posted on in Payroll
The government has published the draft legislation for the next Finance Bill including the rules for off-payroll working in the private sector. The legislation is open for consultation until 5 September 2019. The new rules will apply from April 2020 and the effect of these rules, if they apply to i... Continue reading
Last modified on
Hits: 92
01
Nov

New SRA Accounting Rules 2019

Posted on in Accounting
Historically the Solicitors Regulation Authority (SRA) Accounts Rules have comprised of a large number of very specific and prescriptive rules governing how law firms deal with client money.  All firms, large or small, who hold client money have had to comply with these rules with no real scope... Continue reading
Last modified on
Hits: 180
03
Oct

Making Tax Digital – take the next step to boost your business

Posted on in Tax
More than five months have now passed since the introduction of HMRC’s Making Tax Digital for VAT (MTD), and now is the time to take the next step and consider the gains that can be made from the new system of record keeping. Under MTD, those above the VAT threshold send HMRC summaries of their inc... Continue reading
Last modified on
Hits: 456
29
Aug

More office space for business expansion

Posted on in LBW News
LBW Chartered Accountants has extended its office space to facilitate its recent growth, which includes a pathway for additional partners. LBW, which is headquartered at The Courtyard in Bromborough, has created three additional offices and two more meeting rooms and has also taken space at a third... Continue reading
Last modified on
Hits: 266
07
Aug

Construction businesses must prepare now for change to nil VAT invoicing that will reduce cash flow

Posted on in VAT
Construction contractors and suppliers should now be ramping up their preparations for major VAT changes, which are set to significantly affect cash flows. Lee Webster, managing director at LBW Chartered Accountants, is warning that the sweeping VAT changes from 1 October 2019 will require tens of ... Continue reading
Last modified on
Hits: 433
10
Jul

HMRC letters about not declaring second properties increase

Posted on in Tax
LBW Chartered Accountants is warning additional property owners to ensure they have declared income from these properties – as letters from HMRC investigations increase. Property owners falling foul of HMRC’s enquiries will be forced to pay back the undeclared tax for previous years in addition to ... Continue reading
Last modified on
Hits: 576
23
May

Tax payment reminders and updates

Posted on in Tax
PAYE & National Insurance  Employers PAYE & NI payments (including construction industry payments) for each tax month ending on the 5th are due for payment by 19th (by cleared cheque) or 22nd for electronic payments. Care should be taken when either of these two dates fall at a weekend... Continue reading
Last modified on
Hits: 1205
21
May

Proof that R+D tax claims are not just reserved for people in white lab coats

Posted on in Tax
Proof that R+D tax claims are not just reserved for people in white lab coats IT companies, recruitment firms, and businesses in the construction sector are among those successfully submitting research and development (R+D) tax claims through LBW Chartered Accountants. The Wirral-based accountants... Continue reading
Last modified on
Hits: 597
01
Apr

NATIONAL MINIMUM/LIVING WAGE INCREASES FROM 1 APRIL 2019

Posted on in Payroll
National Minimum Wage (NMW) and National Living Wage (NLW) changes come into effect from 1 April 2019. Please note that these changes do not affect company directors. The table below details both the current NMW along with the National Living Wage for those employees who are aged 25 and over. ... Continue reading
Last modified on
Hits: 746
30
Oct

LBW - Autumn Budget 2018

Posted on in The Budget
Philip Hammond today delivered his Autumn Budget. As the Prime Minister had previously announced at the Conservative Conference, ‘Austerity is coming to an end’. Today’s budget speech included a multitude of plans to provide funding for the NHS, Counter-Terrorism, and Defence amongst others. The Ch... Continue reading
Last modified on
Hits: 635
31
Aug

Interest on late paid tax

Posted on in Tax
Any tax paid after the due date will carry interest. This is written in statute. Interestingly late paid interest on corporation tax is tax deductible whilst interest on other taxes (income tax, VAT and capital gains tax to name just 3) is not.  Many taxpayers do see paying their tax late as ... Continue reading
Last modified on
Hits: 762
31
Aug

Marriage Allowance

Posted on in Tax
One of our main points of focus at this time of year is the preparation of self assessment tax returns and we are seeing an increasing number of cases which involve the marriage allowance. This is not to be confused with the married couples allowance. This latter allowance is only available to taxpa... Continue reading
Last modified on
Hits: 807
03
Aug

Tax Efficient Investments

Posted on in Tax
This month we take a look at tax efficient investments. As a firm we do not hold authorisation to advise on investments but we are able to provide details of the tax advantages of investments and to make general comments on them. To determine if an investment is right for you, you should consult you... Continue reading
Last modified on
Hits: 863
06
Jul

VAT Update

Posted on in VAT
With all the talk in the press and other media on the subject of “Brexit”, we thought it would be a good time to take a look at VAT. VAT is a EU tax that was introduced into the UK in 1973 when the UK joined what was then the Common Market. So the question then is when we leave the EU will VAT go a... Continue reading
Last modified on
Hits: 676
09
May

LBW Family Fun Day - Caldy Cricket Club - Saturday 14th July

Posted on in LBW News
The day is once again almost upon us and we are putting the final touches to the preparations for this year's fun day which is back this year following last year's break for our Charity walk. We hope you are all looking forward to it as much as we are!   Confirmed Date: Saturday 14th July - 1... Continue reading
Last modified on
Hits: 992
25
Apr

Commercial Property Tax

Posted on in Tax
Commercial Property Tax Clinic – Factsheet Interest Relievable – (not for residential buy to let) Relief on any interest element on lending is fully relievable for commercial property. Restrictions are in place for residential buy to let properties. Consider the structure of property portfolios... Continue reading
Last modified on
Hits: 755
22
Nov

LBW - Autumn Budget 2017

Posted on in The Budget
Philip Hammond today delivered his first Autumn Budget (and second Budget speech). The Budget speech itself included a multitude of plans to provide funding in an attempt to make Britain “fit for the future”. These include; New funding for the NHS as well as support for broadband and artificial... Continue reading
Last modified on
Hits: 1133
21
Nov

You look after your business - how will your business look after you?

Posted on in Tax
We all work hard to maintain and grow our businesses, along the way we :- Earn income Build personal wealth Look after our customers, employees and other stakeholders Work towards a succession plan to ensure no one is let down We all leave our businesses and none of us know when this will b... Continue reading
Last modified on
Hits: 1410

News Calendar

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News Categories

Tax (37)
PAYE (2)
LBW News (11)
VAT (10)
Economy (7)
Accounting (13)
Payroll (8)
Savings (2)
Landlords (1)
Industry (1)
Marketing (1)
Pensions (1)