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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: Avoiding the Unexpected
Inheritance Tax (IHT) can create unexpected complications when gifting assets while continuing to benefit from them. The IHT reservation of benefit rule applies when someone...
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
HMRC's Policy Change on VAT for Dwellings Formed from Multiple Buildings In a significant policy shift, HM Revenue and Customs (HMRC) now accepts that a single dwelling can be...
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!
Auto-Enrolment Compliance: Ignore at Your Peril! Employers must adhere to auto-enrolment duties, including submitting a declaration of compliance. Failure to do so can result...
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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