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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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National wage rates from April 2017
National minimum wage and national living wage Both were increased on 1 April 2017 and future increases in both will be on 1 April each year. National Living Wage for those...
Class 4 National Insurance Contributions Increase Reversed
Reversal of Class 4 NIC Rate Increase The government has reversed its earlier proposal to increase the rate of Class 4 National Insurance Contributions (NICs). Initially, the...
Tax free childcare payments
We may have mentioned this before – that is because it is has been a long time in actually being put into action. The new scheme comes in from Spring 2017 but is being rolled...
Entrepreneur’s relief – associated disposals
Entrepreneurs’ Relief: Associated Disposals Explained Entrepreneurs’ Relief, now known as Business Asset Disposal Relief, offers a reduced Capital Gains Tax rate...
Budget 2017
Philip Hammond has just delivered ‘the last spring budget’. From a taxation perspective, there was nothing of tremendous significance referred to in his speech. These were the...
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...
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