Understanding Capital Gains Tax with Tom Foster

🎙️ In this episode of Understanding Capital Gains Tax, Tom Foster, Tax Director at Lewis Brownlee, breaks down the key principles of Capital Gains Tax (CGT) in a clear and practical way. Whether you’re a business owner, investor, or simply someone looking to get a handle on your tax obligations, this episode will provide valuable insights to help you navigate the complexities of CGT.

Tom explains:

• What CGT is and how it’s calculated
• Deductions you can apply to reduce your liability
• Exemptions and tax rates you need to know
• Reporting requirements and important deadlines

With Tom’s expert advice, you’ll gain the knowledge needed to manage your finances effectively and avoid costly mistakes when dealing with assets.

Need personalised advice? Our team at Lewis Brownlee is ready to assist with your tax returns and financial planning. Contact us today.

🌐 www.lewisbrownlee.co.uk

#CapitalGainsTax #CGT #TaxCompliance #FinanceTips #BusinessTax #LewisBrownlee

Thank you for tuning in to the Lewis Brownlee Podcast!

If you enjoyed this episode, make sure to subscribe and leave a review to stay updated on our latest insights and discussions. To learn more about our services, visit us at www.lewisbrownlee.co.uk or follow us on social media:

• Twitter: @LewisBrownlee
• LinkedIn: Lewis Brownlee

For any questions or feedback, feel free to reach out at [email protected]

Disclaimer: The content of this podcast is for informational purposes only and should not be considered financial advice. Please consult with a professional advisor for tailored guidance.

Streamlining Your Business Accounting

🎙️ In this episode of Streamlining Your Business Accounting, our Client Relationship Manager Jess shares practical tips on how to simplify and optimise your accounting processes. Whether you’re a small business owner or managing a growing company, we can walk you through easy-to-implement strategies to save time and reduce stress.

From leveraging the power of cloud accounting tools like Xero to considering the benefits of outsourcing certain accounting tasks, this episode provides a clear roadmap to make your accounting more efficient and effective.

What you’ll learn:

• How Xero can streamline your accounting
• The advantages of outsourcing financial tasks
• Simple steps to reduce time spent on accounting

Perfect for anyone looking to enhance their accounting processes and focus more on growing their business.

🌐 www.LewisBrownlee.co.uk

#BusinessAccounting #Xero #Outsourcing #Efficiency #CloudAccounting #LewisBrownlee

Thank you for tuning in to the Lewis Brownlee Podcast!

If you enjoyed this episode, make sure to subscribe and leave a review to stay updated on our latest insights and discussions. To learn more about our services, visit us at www.lewisbrownlee.co.uk or follow us on social media:

• Twitter: @LewisBrownlee
• LinkedIn: Lewis Brownlee

For any questions or feedback, feel free to reach out at [email protected]

Disclaimer: The content of this podcast is for informational purposes only and should not be considered financial advice. Please consult with a professional advisor for tailored guidance.

Spotlighting Xero Cloud Accountancy with Jayne Tressler

🎙️ In this episode of Spotlighting Xero Cloud Accountancy, we’re joined by Associate Director Jayne Tressler to explore the powerful capabilities of Xero, the cloud-based accounting software that’s transforming how businesses manage their finances.

Jayne breaks down what Xero is, how it can be a game-changer for businesses of all sizes, and dives into the basics of its app stacking features. From streamlining everyday tasks to improving financial oversight, learn how Xero’s ecosystem can help you optimise your business operations.

What you’ll learn:

• The fundamentals of Xero: What it is and how it works
• Why Xero is essential for modern businesses
• Introduction to app stacking: How Xero integrates with other apps to enhance productivity

Perfect for business owners, accountants, and anyone curious about taking their financial management to the next level with cloud-based solutions.

Tune in and discover how Xero can simplify and supercharge your business.

🌐 www.LewisBrownlee.co.uk

#Xero #CloudAccountancy #BusinessGrowth #AppStacking #XeroIntegration #LewisBrownlee

Thank you for tuning in to the Lewis Brownlee Podcast!

If you enjoyed this episode, make sure to subscribe and leave a review to stay updated on our latest insights and discussions. To learn more about our services, visit us at www.lewisbrownlee.co.uk or follow us on social media:

• Twitter: @LewisBrownlee
• LinkedIn: Lewis Brownlee

For any questions or feedback, feel free to reach out at [email protected]

Disclaimer: The content of this podcast is for informational purposes only and should not be considered financial advice. Please consult with a professional advisor for tailored guidance.

🎙️ Are you launching a new business or looking to sharpen your strategy? Join us on this episode of Top Tips for SMEs, where Daren Laidlaw, Head of Business Growth Services at Lewis Brownlee, sits down with Andrea Todorov, Head of Whiteley, to share practical insights every small business owner needs.

Discover how to define your Unique Selling Proposition (USP), build brand awareness, create a robust business plan, and master budgeting and forecasting to secure sustainable growth. Whether you’re just starting out or navigating the next phase of your business journey, these expert tips are designed to help you thrive in today’s competitive landscape.

What you’ll learn:

• Defining your USP: Stand out in the market
• Building brand awareness: Reach the right audience
• Business planning: Create a roadmap for success
• Budgeting & forecasting: Manage your finances like a pro

Tune in to equip yourself with the tools to grow your SME and ensure lasting success.

Follow us for more insights and updates on how to grow your business!

🌐 www.LewisBrownlee.co.uk

#BusinessGrowth #SMEs #Entrepreneurship #BrandAwareness #BusinessPlanning #FinancialSuccess #LewisBrownlee

Thank you for tuning in to the Lewis Brownlee Podcast!

If you enjoyed this episode, make sure to subscribe and leave a review to stay updated on our latest insights and discussions. To learn more about our services, visit us at www.lewisbrownlee.co.uk or follow us on social media:

• Twitter: @LewisBrownlee
• LinkedIn: Lewis Brownlee

For any questions or feedback, feel free to reach out at [email protected]

Disclaimer: The content of this podcast is for informational purposes only and should not be considered financial advice. Please consult with a professional advisor for tailored guidance.

In this episode, Lewis Brownlee's Associate Director Melanie Welsh (née Phillips) and Tax Compliance Manager Lewis Pridgeon explore the complexities of Business Property Relief (BPR), a vital tax relief for the farming and agricultural sectors.

With recent changes in subsidies, tenancies, and upcoming consultations in 2024 around Inheritance Tax (IHT) and Capital Gains Tax (CGT), it's more important than ever to ensure your tax planning is up to date. Our experts dive into how BPR can reduce the value of business assets, such as property, machinery, and unlisted shares, when calculating IHT, and the key qualifications needed to claim this relief.

If you're a farmer, grower, or business owner in the agricultural sector, this episode will help you understand how to protect your assets and potentially reduce your tax liabilities.

Tune in now to learn how Lewis Brownlee can help you navigate these tax reliefs and ensure your business is on the right track.

#BusinessPropertyRelief #FarmingTax #AgricultureTax #InheritanceTax #CGT #LewisBrownlee #TaxPlanning #AgriculturalBusiness

Thank you for tuning in to the Lewis Brownlee Podcast!

If you enjoyed this episode, make sure to subscribe and leave a review to stay updated on our latest insights and discussions. To learn more about our services, visit us at www.lewisbrownlee.co.uk or follow us on social media:

• Twitter: @LewisBrownlee
• LinkedIn: Lewis Brownlee

For any questions or feedback, feel free to reach out at [email protected]

Disclaimer: The content of this podcast is for informational purposes only and should not be considered financial advice. Please consult with a professional advisor for tailored guidance.

In this episode, Melanie Welsh (née Phillips), Head of Lewis Brownlee's Midhurst and Associate Director, and Lewis Pridgeon, Tax Manager, provide an in-depth look at Agricultural Property Relief (APR). They discuss the importance of APR, how it benefits landowners and farmers, and the latest updates on qualifying assets. Whether you're involved in agriculture or managing rural estates, this episode is essential listening for understanding the complexities and opportunities surrounding APR.

Thank you for tuning in to the Lewis Brownlee Podcast!

If you enjoyed this episode, make sure to subscribe and leave a review to stay updated on our latest insights and discussions. To learn more about our services, visit us at www.lewisbrownlee.co.uk or follow us on social media:

• Twitter: @LewisBrownlee
• LinkedIn: Lewis Brownlee

For any questions or feedback, feel free to reach out at [email protected]

Disclaimer: The content of this podcast is for informational purposes only and should not be considered financial advice. Please consult with a professional advisor for tailored guidance.

In this episode, Andrea Todorov, Head of Whiteley, and Shaun Dodson, Tax Manager, dive deep into the evolution of tax legislation and practices, especially with the rise of Artificial Intelligence (AI). 

Join Andrea and Shaun as they explore how AI is transforming tax compliance, automation in tax planning, and the future of the profession. Whether you're a business owner, accountant, or just curious about the impact of technology on tax, this insightful conversation offers a glimpse into the future of taxation.

Thank you for tuning in to the Lewis Brownlee Podcast!

If you enjoyed this episode, make sure to subscribe and leave a review to stay updated on our latest insights and discussions. To learn more about our services, visit us at www.lewisbrownlee.co.uk or follow us on social media:

• Twitter: @LewisBrownlee
• LinkedIn: Lewis Brownlee

For any questions or feedback, feel free to reach out at [email protected]

Disclaimer: The content of this podcast is for informational purposes only and should not be considered financial advice. Please consult with a professional advisor for tailored guidance.

Join Daren Laidlaw, Lewis Brownlee's Head of Business Growth Services, as he dives into the essentials of Profit and Loss in Management Accounts. In this episode, Daren demystifies the components of P&L statements and explores how understanding this financial tool can empower business leaders to make informed decisions, drive growth, and manage financial health. Whether you're a seasoned business owner or new to management accounts, this podcast will provide valuable insights and practical advice to help you stay on top of your financials.

Thank you for tuning in to the Lewis Brownlee Podcast!

If you enjoyed this episode, make sure to subscribe and leave a review to stay updated on our latest insights and discussions. To learn more about our services, visit us at www.lewisbrownlee.co.uk or follow us on social media:

• Twitter: @LewisBrownlee
• LinkedIn: Lewis Brownlee

For any questions or feedback, feel free to reach out at [email protected]

Disclaimer: The content of this podcast is for informational purposes only and should not be considered financial advice. Please consult with a professional advisor for tailored guidance.

In this LB Talking Points video, our Client Relationship Manager Amber Naughton and Tax Adviser Steven Cameron, discuss Making Tax Digital for Landlords, and how the rules will affect their current accounting practices plus the benefits this could have for their property business.

Self-employed businesses and landlords with annual business or property income above £10,000 will need to follow the rules for MTD for Income Tax from their next accounting period starting on or after 6 April 2023.

MTD is a key part of the Government’s plan to move to a fully digitalised tax system, with HMRC having ambitions of becoming one of the most digitally advanced tax administrations in the world. The MTD initiative is fundamentally changing the UK’s tax systems and processes for businesses. It aims to provide a modern, digital service that makes it easier for businesses to get their tax right the first time, which not only reduces the tax lost due to avoidable errors, but also reduces the cost, uncertainty and worry that businesses face when HMRC are forced to intervene.

The initial focus of MTD was aimed at VAT, with VAT mandated businesses being signed up to MTD in April 2019. By April 2022 all VAT registered businesses will be required to engage with MTD for VAT purposes.

The second focus of MTD is MTD for Income Tax Self-Assessment (MTD ITSA), which will include any unincorporated businesses or property landlords with income in excess of £10,000.00. Although today we will be focusing on MTD for Landlords the same rules will apply to an unincorporated trading business with income over £10,000.00.

If you have any questions or need help with the implementation of accounting software and systems, our team can assist you with this. Head to our Making Tax Digital Help Centre here: https://LBLink.uk/MTD

Please get in touch via the details below:
T: 01243 782 423
W: www.lewisbrownlee.co.uk
E: [email protected]

Thank you for tuning in to the Lewis Brownlee Podcast!

If you enjoyed this episode, make sure to subscribe and leave a review to stay updated on our latest insights and discussions. To learn more about our services, visit us at www.lewisbrownlee.co.uk or follow us on social media:

• Twitter: @LewisBrownlee
• LinkedIn: Lewis Brownlee

For any questions or feedback, feel free to reach out at [email protected]

Disclaimer: The content of this podcast is for informational purposes only and should not be considered financial advice. Please consult with a professional advisor for tailored guidance.

In this LB Talking Points video, our VAT Compliance Manager Yvonne Collings and Cloud Accounting Specialist Andy Kemp, discuss the Digital Links aspect of Making Tax Digital, and how moving to a cloud accounting system could benefit your business.

Making Tax Digital (MTD) was brought in back in April 2019 for VAT registered businesses with a turnover above the VAT registration threshold (currently £85,000). All VAT-registered businesses trading at or above the VAT registration threshold have been required to keep digital records and submit their VAT returns via software that can directly link to HMRC.

For periods starting on or after 1 April 2021, businesses trading at or above the VAT registration threshold will now also be required to have ‘digital links’ in all their record keeping. This means there can no longer be any cutting, copying or pasting of data from one application to another, all data must be digitally linked.

HMRC have defined a digital link as the ‘data transfer or exchange within and between software programs, applications or products that make up functional compatible software (and these) must be digital where the information continues to form part of the digital records’.

If you have any questions or need help with the implementation of accounting software and systems, our team can assist you with this. Head to our Making Tax Digital Help Centre here: https://LBLink.uk/MTD

Please get in touch via the details below:
T: 01243 782 423
W: www.lewisbrownlee.co.uk
E: [email protected]

Thank you for tuning in to the Lewis Brownlee Podcast!

If you enjoyed this episode, make sure to subscribe and leave a review to stay updated on our latest insights and discussions. To learn more about our services, visit us at www.lewisbrownlee.co.uk or follow us on social media:

• Twitter: @LewisBrownlee
• LinkedIn: Lewis Brownlee

For any questions or feedback, feel free to reach out at [email protected]

Disclaimer: The content of this podcast is for informational purposes only and should not be considered financial advice. Please consult with a professional advisor for tailored guidance.

Jayne Tressler (Business Services Group Manager) and Lewis Pridgeon (Tax Compliance Manager) are discussing some of the key aspects of employee benefits.

A benefit-in-kind is any benefit that an employee or director receives from their company which is not included in the individual’s payslip. Sometimes people refer to these as ‘perks’ or ‘fringe benefits’ and contrary to popular belief, these are not all ‘tax-free freebies’, sadly.

The main objective of these forms are to prevent employees receiving remuneration for services provided and avoiding employment taxes. It covers expenses and benefits provided to employees, anything of value provided in return for the provision of services.

The P11D form must be filed with HMRC every year on the 6th July. Any tax due must be paid to HMRC by the 22nd July each year (19 July if you pay by cheque).

If you have any questions or would like to speak to our team about your situation you can call us on 01243 782 423 or email [email protected]!

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Established nearly 30 years ago, Lewis Brownlee is a firm of Chartered Accountants with a team of directors and over fifty professional staff located across the south east, with offices in Chichester, Midhurst, Whiteley and London.

Find out more about Lewis Brownlee here: https://www.lewisbrownlee.co.uk/

To make an appointment with one of our Chichester Accountants go to: https://LBLink.uk/contact

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Thank you for tuning in to the Lewis Brownlee Podcast!

If you enjoyed this episode, make sure to subscribe and leave a review to stay updated on our latest insights and discussions. To learn more about our services, visit us at www.lewisbrownlee.co.uk or follow us on social media:

• Twitter: @LewisBrownlee
• LinkedIn: Lewis Brownlee

For any questions or feedback, feel free to reach out at [email protected]

Disclaimer: The content of this podcast is for informational purposes only and should not be considered financial advice. Please consult with a professional advisor for tailored guidance.