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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.
Explore our articles and discover how we can support your financial success.
Transfer of a going concern (VAT)
If a business is transferred from one type of legal entity to another the turnover of the old legal entity must be taken into account when determining whether VAT registration...
Charitable trusts and the single rate band
Charitable trusts are typically exempt from income tax, making them a useful structure for managing donations and assets intended for charitable causes. However, complications...
Residential buy to lets and VAT
If you are in business as a sole trader and registered for VAT, while you do not have to account for VAT on the letting income you might be able to recover the VAT on the...
Xero Help – Input VAT on Import
A common question we receive is how to correctly account for input VAT on imports in Xero. If your business imports goods and needs to reclaim VAT, it’s essential to record...
Failed PETS
Not dogs or cats but gifts between individuals which in lifetime are potentially exempt transfers (PETS). Should the donor survive more than seven years from the date of the...
Salary sacrifice schemes
Salary sacrifice schemes allow employees to exchange part of their salary for a non-cash benefit that is exempt from tax or National Insurance Contributions (NICs). This...
Salary Sacrifice Plans: Tax Savings for Employers and Employees
Salary sacrifice plans are a popular method for employers and employees to save on tax and National Insurance Contributions (NICs). These arrangements involve employees giving...
Deemed domicile and residency
Individuals will be deemed UK domiciled from 6 April 2017 if: They have been resident in the UK for at least 15 of the last 20 years They were born in the UK with a UK...
Investors’ Relief: A Valuable CGT Break for External Investors
Introduced in the Finance Bill 2016, investors’ relief provides a capital gains tax (CGT) break for external investors subscribing for shares in unquoted companies. This...
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