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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.
Stay informed with the latest industry trends and guidance from our team of experienced Chartered Accountants.
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Changes to the VAT flat rate scheme from 1 April 2017
HMRC believes that small businesses have been abusing the VAT flat rate scheme (FRS). When reporting VAT payable the business ignores VAT on purchases with the exception of...
Advisory fuel rates from 1 December 2016
Advisory Fuel Rates December 2016: Key Information for Employers Effective from 1 December 2016, HM Revenue and Customs (HMRC) updated the Advisory Fuel Rates (AFRs) for...
Understanding the Withdrawal of a Self-Assessment Notice to File
When Can a Self-Assessment Notice Be Withdrawn? A self-assessment notice to file is issued when HMRC requires an individual to complete a tax return. However, if the taxpayer...
The P800 process as it stands (Year ended 5 April 2016)
HMRC appear to be trying to be helpful by working out from the information they hold whether taxpayers have underpaid or overpaid tax. But the system is horribly flawed...
Simple tax assessments
HMRC will have the power from 2016-17 to assess an individual’s income tax or capital gains tax liability without them first being required to complete a self-assessment...
VAT surcharges
Ignore at your peril the receipt of a surcharge liability notice (SLN) or a letter of help issued to small businesses with a turnover of £150,000 who miss a deadline. What...
Research and development (R & D) claim
More of our clients are making these claims which can be very valuable. For small and medium enterprises, valid claims can result in an additional deduction from profits of...
Directors’ NIC
Beware of the method by which NIC is assessed; it is different from employees! For employees you look at the earnings in an earnings period (week, month etc.) and apply the...
Liquidating a company
If you are reaching retirement and you no longer wish to trade you have a choice. If the total value of the company is less than £25,000 payments from the company can be taxed...
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