Lambert Chapman LLP host the UK200Group Regional IT Forum

On Thursday 4th November the UK200 IT Services Regional Forum was held at the offices of Lambert Chapman LLP.    The forum was facilitated by Rob Lambden from On-Line 50 a Prime Partner of UK200 and attendees included Mike Carabine and Lisa Potter from Lambert Chapman LLP, Laura Ambrose from Haslers, Jonathan Tulloch from Hardcastle Burton LLP and Paul Chipperfield from Price Bailey LLP.  

 

Topics on the agenda included a review of systems in use by members, document management projects, client collaboration tools and general member issues. Highlights from  the discussions were:

• Security issues regarding client data held on mobile phones such as IPhones and Blackberrys and memory sticks – what internal policies were in place to protect these and what security was enabled on the device itself.
• The advantages and pitfalls experienced from members using Data Management Systems and the implementation process adopted by each member
• Benefits relating to either in-house or outsourcing of IT services as experienced by the members
• Issues surrounding the implementation of iXBRL security filing with HMRC including cost of providing and the readiness of software systems to cope 

We were delighted to host this event and found it of great use in current thoughts towards ICT.

Lambert Chapman LLP’s Lisa Potter reviews the Emergency Budget

“Tough but Fair” were the comments that struck a chord with me whilst I was listening to the introduction speech made in the emergency budget by George Osborne.  After listening for 20 minutes of what could only be described as pointing the finger at the inadequacies of their predecessors and how shocked the new government were at how bad the position really was, a thought crossed my mind.  

Is the country’s financial affairs only privy to the current government in power? If so, why? Surely it is in the public interest that these figures are disclosed at least to other parties in government which is no less than that expected of private and public limited companies already.  If they are available then the rantings of the current chancellor were simply for drama and effect and served no purpose other than to build up to the main event, as they have done for the last month, a hard hitting budget.  

I unfortunately missed the main content of the budget until I heard the 3pm news on Radio 4 who simply announced that VAT was to increase to 20% and no other comments made - this was no surprise to me and a predictable course of action and then led me to believe that maybe the budget wasn’t that bad after all.    Returning to the office and searching the internet this appeared not to be case and many changes have been introduced some good and some bad and luckily many still in the future rather than immediate.   

Starting on a positive note lifetime allowance for capital gains tax on business assets to increase to £5m from £2m (not appreciated by the man on the street but great for entrepreneurs).  Sadly this has been compensated by the increase from 18% to 28% of capital gains tax on non-business assets whilst not as high as initially anticipated a large enough increase for those that have built up small property portfolios for their future pensions.   

Good news for smaller and larger companies as corporation tax rates are reduced to 20% and over three years 24% respectively, this should hopefully encourage UK trade and investment into the UK.    National insurance thresholds for employers set to increase by inflation and £21 per week, excellent news for employers who already suffer as a result of ever increasing employment costs elsewhere.   The basic rate tax allowance was increased by £1,000 for April, a shock given the press regarding the £10,000 limit constantly mentioned, higher rate at 50% looks set to stay and no movement on the removal of personal allowances for higher earners.   

Benefits in general have received an overhaul and hopefully one that will stop people from stealing from the system and those that genuinely have a need are rewarded. It is so disappointing when perspective employees weigh up working and earning a wage against their loss in tax credits, a system that has been unfair for many years.  

No one should be surprised at the levels taken in this budget as they were needed to allow our country to recover, might one say that maybe they could have been tougher and maybe more is to come.    Whilst our general cost of living will be increasing in January (though not until 4th January to allow us all to take part in the christmas and new year spends) at least we can continue to drown our sorrows as alcohol received a reprive from the tax hikes previously suggested.

 

Lambert Chapman LLP’s Lisa Potter reviews the 2010 Budget

Buoyant budget boosts business confidence for upcoming election.  

Sadly, my headline was the most exciting thing to happen in the budget.  Predictable, safe, a few wins and some losses is more appropriate to describe the announcement made yesterday.  It was simply a budget to protect re-election and did not deal with the serious issues still facing our economy.  So what were the wins and losses?  

Small businesses can now invest £100k in new equipment with the increased annual investment allowance and using the loans that RBS Natwest and Lloyds TSB will be providing to them.   The housing market should pick up for the lower end as the sales value for stamp duty increases to £250k, although where should these first time buyers get the funds from to secure the deposits and mortgages needed to purchase them.  Increases in national insurance contributions and the implantation of the higher tax rate (60% effective rate for some individuals) will make this difficult.   Entrepreneurs relief doubled to £2m as many businesses value have decreased due to reduction in trading and recessionary conditions.   Inheritance tax frozen for four years at a level that is still currently unrealistic for many households as their primary property falls into play.  No changes to VAT and this could have been the real help to small businesses with a realistic change to the registration limit.    Other carrots offered are reductions in business rates and investment for training and innovation – one hopes it will be easier to achieve than all the previous schemes offered by the government which simply put a tick in the box and result in no action for the majority of businesses.   For me a budget full of hot air with no real solutions to dealing with the enhanced recovery of our economy.  

Finally good news, childhood alcohol addiction will reduce thanks to the rise in the price of white lightning cider.