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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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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...
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 Digital guides Do you keep spreadsheets for your accounting records? Not only could this...
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...
Property – trading or capital gain
HMRC have introduced a new tax rule to take effect for property disposals made on and after 5 July 2016 by overseas investors to cause them to pay UK tax. But this might catch...
Auto-enrolment – ignore at your peril!
Auto-Enrolment Compliance: Ignore at Your Peril! Employers must adhere to auto-enrolment duties, including submitting a declaration of compliance. Failure to do so can result...
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