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Welcome to the Lewis Brownlee Chartered Accountants Blog
Your trusted source for expert insights on UK tax, accounting, and business finance. Whether you’re a small business owner, a sole trader, or a larger enterprise, our blog offers valuable tips, updates on tax regulations, and practical advice to help you navigate the financial landscape with confidence.
Stay informed with the latest industry trends and guidance from our team of experienced Chartered Accountants.
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IHT and reservation of benefit
If you carry on having the benefit of an asset, even though you have given it away there can be trouble ahead for inheritance tax purposes. Ways around this are:- To pay...
Negligible value claims
A special rule enables you to claim a capital gains tax loss where the value of the shares become negligible and you do not have to actually sell them. If you bought the...
VAT and conversion services
Dwellings formed from more than one building HMRC now accept that single dwellings can be formed from more than one building. Prior to this HMRC had considered that while a...
Property – trading or capital gain
HMRC have introduced a new tax rule to take effect for property disposals made on and after 5 July 2016 by overseas investors to cause them to pay UK tax. But this might catch...
Auto-enrolment – ignore at your peril!
Automatic £400 penalties for non-compliance are on the increase, primarily for failing to submit a declaration of compliance which given that all other administrative matters...
Research & Development (R & D) advance assurance scheme
This enables successful applicants with an assurance that their claims for R & D tax relief will not be subject to an HMRC enquiry and that HMRC will accept their first...
Corporation tax – reducing paperwork further
Acknowledgements to corporation tax returns filed will no longer be issued in paper form either to the company’s registered office or the agent acting. The acceptance of the...
Having trouble with National Insurance numbers (NINOs)?
This seems to be one of those matters that was not thought through at the time! In the summer HMRC started issuing NINOs with a KC prefix. The problem was that these were not...
Late VAT claims – all is not lost!
Normally VAT should be reclaimed in the VAT period in which it is incurred. If not then you need to make an error correction but if the net adjustment for all ‘errors’ is less...
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