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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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EIS, SEIS and now investors’ relief!
The aim of investors’ relief is to attract new investment into unlisted companies. The legislation is still not final but amendments have been made to extend the relief to...
Rent a room relief and bed and breakfast income
Rent a room relief (£4,250 to 15/16; £7,500 from 16/17) can be claimed against bed and breakfast income, even though this type of letting activity amounts to a trade. So if...
Developing the garden
With the need for more and more houses it is often tempting to sell off part of a garden for development. Done correctly there can be little if any tax to pay. But if you get...
Farmers’ losses
There is a restriction which prevents relief for farming losses being claimed against other income if a loss results for tax purposes for more than five years in a row. What...
Suspended penalties
Penalties are levied by HMRC where carelessness is involved but they can be suspended if conditions can be applied. If an officer will not suspend a penalty without a reason...
Payments from overseas to HMRC
If you need to make a payment from overseas to HMRC the bank account details have changed. Account number (IBAN) B62BARC20114770297690 Bank identifier code (BIC): BARCGB22...
Trusts and the dividend tax rate
For interest in possession trusts, unless the dividends are mandated directly to the beneficiaries, they will have to start completing tax returns again from 6 April 2017....
Pre-registration VAT on depreciating assets
HMRC currently expect you to make an adjustment for deprecation if you register for VAT and have an asset which has been used to make supplies pre-registration. However the...
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