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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.
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tanding the Residence Nil Rate Band for Downsizers
Understanding the Residence Nil Rate Band for Downsizers The Residence Nil Rate Band (RNRB) allows individuals to pass on an additional amount of their estate tax-free when...
Residence nil band for inheritance tax purposes
If an estate is valued at more than £2,000,000 the additional residence nil band which comes in for deaths after 5 April 2017 is reduced by £1 for every £2 over. So...
Capital gains on assets bought and sold in a foreign currency
A reminder that while the pound trades at poor rates of exchange against both the dollar and the euro, it is possible to make a capital gain for UK tax purposes even if there...
Car and van fuel benefit rates
If fuel is provided for private use in a company van or company car and it is not reimbursed a fuel benefit charge arises. From 6 April 2017 the car fuel benefit increases to...
Tax relief for employees’ expenses incurred in employment
As an employee your may be able to claim tax relief if you have to use your own money to pay for travel or things you must use for your own job, if your employer will not or...
Trivial benefits in kind and NIC
Broadly, to qualify for treatment as a trivial BinK the following musts be met: A – must not be cash or a cash voucher B - must cost £50 or less C – must not be provided as...
Reclaiming VAT on house extension
There are two ways to account for private use of a business asset. If it is not a capital item you can claim all the input tax and then pay VAT on the value of the private...
Making Tax Digital
making tax digital Here you can find all our content and resources around Making Tax DigitalguidesDo you keep spreadsheets for your accounting records? Not only could this be...
Understanding Lifetime ISA Rules
The Lifetime ISA (LISA) is a savings account designed to help individuals save for their first home or retirement. But, as you might expect there are LifetimeISA rules that...
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