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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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Short-life asset elections
With the annual investment allowance (AIA) reducing to £200,000 with effect from 1 January 2016 it might be worth considering ‘de-pooling’ elections for expenditure in excess...
Determinations under self-assessment
If you are issued with a notice to file a self-assessment tax return and do not file it on time HMRC can issue a determination of your tax liability within three years of the...
Transferable Married Couple’s Allowance
Understanding the Transferable Married Couple’s Allowance The Transferable Married Couple’s Allowance was introduced on 6 April 2015 to help married couples and civil partners...
Trivial perks
This is back on the legislative programme and hopefully will take effect from 6 April 2016. The new tax and NIC exemption of £50 will apply to as many perks as you want to...
Apprentices
From 6 April 2016 the rate of employers NIC for certain apprentices under age 25 will be zero up to the new ‘Apprentice Upper Secondary Threshold (AUST) which for this coming...
Child benefit
As you may be aware if the taxable income of either of the partners to a civil relationship or marriage falls between £50,000 and £60,000 the child benefit is clawed back at...
Mini One Stop Shop (MOSS)
Remember that if you are selling digital downloads to a non-business client in the EU you will need to register with MOSS even if your UK turnover is under the UK threshold....
Budget – Corporation tax rates
With effect from 1 April 2017 the corporation tax rate will be reduced to 19% and with effect from 1 April 2020 to 18%. This is fine provided that the additional costs that...
Property development projects
Intent is often crucial in determining how a property development project is taxed. If a property is acquired with the intention of renovating before selling for an...
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