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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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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...
Tax relief for employees’ expenses incurred in employment
As an employee your may be able to claim tax relief if you have to use your own money to pay for travel or things you must use for your own job, if your employer will not or...
Trivial benefits in kind and NIC
Broadly, to qualify for treatment as a trivial BinK the following musts be met: A – must not be cash or a cash voucher B - must cost £50 or less C – must not be provided as...
Reclaiming VAT on house extension
There are two ways to account for private use of a business asset. If it is not a capital item you can claim all the input tax and then pay VAT on the value of the private...
Making Tax Digital
making tax digital Here you can find all our content and resources around Making Tax DigitalguidesDo you keep spreadsheets for your accounting records? Not only could this be...
Understanding Lifetime ISA Rules
The Lifetime ISA (LISA) is a savings account designed to help individuals save for their first home or retirement. But, as you might expect there are LifetimeISA rules that...
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...
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