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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.
Explore our articles and discover how we can support your financial success.
VAT surcharges
Ignore at your peril the receipt of a surcharge liability notice (SLN) or a letter of help issued to small businesses with a turnover of £150,000 who miss a deadline. What...
Research and development (R & D) claim
More of our clients are making these claims which can be very valuable. For small and medium enterprises, valid claims can result in an additional deduction from profits of...
Directors’ NIC
Beware of the method by which NIC is assessed; it is different from employees! For employees you look at the earnings in an earnings period (week, month etc.) and apply the...
Liquidating a company
If you are reaching retirement and you no longer wish to trade you have a choice. If the total value of the company is less than £25,000 payments from the company can be taxed...
VAT and second hand car schemes
You will need to fill in a VAT return at the end of each tax period. Here are the special rules you must follow for any vehicles which you have bought or sold under the Margin...
Group VAT registration
What Is Group VAT Registration? Group VAT registration allows businesses with multiple companies to register under one VAT number rather than filing separate VAT returns. This...
National minimum wage from 1 October 2016
In case you missed it the rates went up again from 1 October 2016! For workers aged 21 and over it has risen to £6.95 per hour, persons aged between 18 and 20 now must receive...
VAT on Craft Fairs: What Stallholders Need to Know
Understanding VAT on Craft Fair Stalls Participating in a craft fair is a great opportunity for small businesses, but many stallholders may not realise the VAT implications....
VAT recovery on cars
If you are a taxi driver, car hire business or driving school, or buying a car for resale you can claim back the VAT (if VAT registered and making taxable supplies). But what...
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