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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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Entrepreneur’s relief and resignation
Understanding Entrepreneurs’ Relief and Resignation Timing Entrepreneurs’ Relief, now called Business Asset Disposal Relief, allows business owners to pay a reduced 10%...
Stamp duty and mortgages
When Is Stamp Duty Payable on a Mortgage Transfer? Stamp Duty Land Tax (SDLT) is generally not payable when property is transferred with no consideration. However, an...
Understanding Employment Allowance Eligibility for Small Employers
Understanding Employment Allowance Eligibility for Small Employers
Deposits and liquidation – caveat emptor when it comes to VAT
Deposits, VAT, and Supplier Liquidation When a business pays a deposit for goods or services, a VAT point is usually created, meaning VAT must be accounted for at that stage....
EIS, SEIS and now investors’ relief!
The aim of investors’ relief is to attract new investment into unlisted companies. The legislation is still not final but amendments have been made to extend the relief to...
Rent a room relief and bed and breakfast income
Understanding Rent a Room Relief for B&B Income Rent a Room Relief allows homeowners to earn up to £7,500 tax-free (previously £4,250 before 2016/17) by letting out...
Developing the garden
Considerations When Selling Part of Your Garden With the growing demand for housing, many homeowners are tempted to sell part of their garden for development. When structured...
Farmers’ losses and tax relief
Restrictions on Claiming Tax Relief for Farming Losses Many farmers rely on tax relief for farming losses to offset profits from other income. However, a restriction applies...
Suspended penalties HMRC
When HMRC identifies carelessness in tax filings, they may issue a penalty. However, in some cases, suspended penalties HMRC applies allow taxpayers to avoid an immediate...
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