Lisa Smith (Bury St Edmunds)

Lisa has a mixed tax and accounting background and is a member of the Institute of Taxation. She joined the Bury St Edmunds office in 2018 after working for one of the Big Four accounting firms where she developed a specialism in VAT and a passion for supporting people to learn and develop their technical and business skills. Lisa is a Tax Manager responsible for a mixed portfolio of private clients. She also provides VAT advice to a broad range of clients. Outside of work Lisa is a keen cyclist who can often be found enjoying the delightful lanes of Suffolk on two wheels.

Specialisms

Private Client Tax

Business Tax

Self Assessment

Income Tax 2

My Latest Blogs

Lisa Smith

29th September 2020 Extension to deferment of VAT due

On 24 September 2020 the Chancellor announced and extension to scheme allowing for the deferment of VAT for businesses affected by coronavirus. Businesses that took advantage of the arrangements to defer VAT payments due between 20 March and 30 June 2020 until 31 March 2021, will have the option to pay the outstanding amounts in…

Lisa Smith

10th August 2020 Covid-19 – VAT complexity of Eat Out to Help Out Scheme

From 3 to 31 August 2020 businesses that offer a discount under the The Eat Out to Help Out Scheme are able to claim the discounted amount back from the Government. Whilst on the face of it you might expect VAT only to be payable on the discounted amount, in-fact VAT is payable…

Lisa Smith

13th July 2020 COVID-19 – Eat Out to Help Out Scheme

Following the Chancellor’s recent announcement, HMRC has issued guidance for businesses to register for the Eat Out to Help Out Scheme, which will enable them to offer a discount to diners from 3 August 2020. The Scheme can be used: all day every Monday, Tuesday and Wednesday from 3 to 31 August 2020,…

Lisa Smith

9th July 2020 REMINDER – Deadline for SEISS grant is 13 July 2020

Further to my blog on 22 June 2020 (please see below), just a reminder that the deadline for applying for the first SEISS grant is 13 July. Those eligible under the Self-employment Income Support Scheme (SEISS) will be able to claim a second and final grant in August 2020.The grant will be worth 70%…

Lisa Smith

9th July 2020 VAT savings for the hospitality and tourism industries

As part of the Government’s measures to try to stimulate the economy, the Chancellor has announced a reduction in the rate of VAT payable by the hospitality and tourism industries. From 15‌‌‌ ‌July 2020 until 12‌‌‌ ‌January 2021, the rate of VAT will be reduced to 5% on any eat-in or hot takeaway food…

Lisa Smith

23rd June 2020 COVID-19 – Reminder to reinstate VAT direct debit

Many businesses have taken advantage of HMRC’s concession to defer VAT payments falling due between 20 March and 30 June 2020. If you have used this concession, and as a result cancelled your direct debit, do not forget to reinstate the direct debit mandate in time for any VAT payments falling due on or after…

Lisa Smith

22nd June 2020 COVID-19 – Potential to advance the opportunity to reclaim corporation tax

To reflect the exceptional trading position many companies find themselves in during the Covid-10 pandemic, HMRC has updated its internal guidance regarding companies making claims for repayments of corporation tax based on anticipated losses, and claiming a repayment of corporation tax paid under the quarterly instalments regime. Companies wishing to make such a claim will…

Lisa Smith

22nd June 2020 COVID-19 – Second Government Grant for the Self Employed

Those eligible under the Self-employment Income Support Scheme (SEISS) will be able to claim a second and final grant in August 2020.The grant will be worth 70% of their average monthly trading profits, paid out in a single instalment covering three months’ worth of profits, and capped at £6,750 in total. The eligibility criteria remain…

Lisa Smith

22nd June 2020 COVID-19 – Reminder – Deadline for Self Employed to Claim the First SEISS Grant

The deadline for applying for the first grant under the Self Employment Income Support Scheme (SEISS) is 13 July 2020. This grant, which is available to eligible individuals, amounts to 80% of your average monthly trading profits. The grant covers a period of three months and is capped at a maximum of £7500. To find out whether…

Lisa Smith

16th June 2020 COVID-19 – Update to Scheme for Furloughed Employees

HMRC have issued a policy paper confirming that the Coronavirus Job Retention Scheme (CJRS) for employees that have been furloughed will close on 31 October 2020. The policy paper also outlines the timetable for changes to the scheme over the coming months. The policy paper can be found here: https://www.gov.uk/government/publications/changes-to-the-coronavirus-job-retention-scheme/changes-to-the-coronavirus-job-retention-scheme At Whiting &…

MENU

Profile

Lisa Smith (Bury St Edmunds)

Specialisms