Topical Tips

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Tax news, audit news and any new accounting news ... with the help of our topical tips, you can enjoy the benefit of being regularly informed of up to date accounting news updates which are most likely to be relevant to you and your business.

So why not offer your business more. Take a look at our latest topical tips and see how they can help you.

PLEASE NOTE: The Archive is a historical resource and by the very nature of these tips the details of tax law might have changed since they were published, so contact your Barnes Roffe partner before acting on any matter contained in these tips.

June 28, 2017

TT260: HM Revenue & Customs Errors on tax calculation 2016/17 Self-Assessment

Many of you would have seen the recent press regarding HMRC’s internal system errors in calculating the income tax payable for individuals in 2016/17.
June 14, 2017

TT259: Changes to the Companies House PSC regime from 26 June 2017

The person of significant control (PSC) regime introduced from April 2016 will see significant changes come into effect from 26th June 2017. Any changes to a Company or LLP’s PSC information will now require notification to Companies House on an event basis as opposed to annual reporting via the Confirmation Statement (formally the annual return).
May 17, 2017

TT258: Beware! More Fraudulent fee scams! EU VAT registration scam!

You might have been previously aware of fraudulent letters being sent from Eastern Europe to UK businesses in regard to Intellectual Property registration fees. These letters look like official letters from the Intellectual Property registrar in Europe.
May 02, 2017

TT257: The Apprenticeship Levy

This has now been introduced with effect from 6 April 2017 for all employers (company or partnership) with an annual payroll in excess of £3m (including associated companies). The Apprenticeship Levy must be applied if your 2016/17 payroll total was more than £3m.
April 21, 2017

TT256: Making Tax Digital

With less than a year to go until the rollout of Making Tax Digital (“MTD”) there are still a raft of unanswered questions about thresholds and software provision, not to mention the readiness and ability of HM Revenue & Customs (“HMRC”) to support such a radical overhaul of the tax system.
April 18, 2017

TT255: Annual tax on enveloped dwellings

We are all familiar with the term annual tax on enveloped dwellings ("ATED") which has been with us since the Finance Act 2013 introduced detailed provisions to deter, what was perceived, as avoidance activity using corporate structures to hold high value residential property.
April 12, 2017

TT254: New Small Company Filing Requirements

For small companies previously able to file abbreviated accounts with the Registrar of Companies, this option is no longer available for accounting periods beginning on or after 1 January 2016, as FRS 102 compliant accounts must be prepared.
March 13, 2017

TT253: Budget Summary Spring 2017

The 8th of March saw Philip Hammond deliver the first of two budgets scheduled for 2017. At a mere 69 pages, the Spring Budget was comparatively short, however the Chancellor still managed to throw in a few surprises.
Patent Box Regime
November 24, 2016

TT252: Autumn Statement 2016: all change for the Chancellor

The UK has experienced plenty of political upheaval this year with the EU referendum followed by a change of leadership. The Chancellor, Philip Hammond, delivered his first Autumn Statement on 23 November– which also turned out to be his last.
November 07, 2016

TT251: Large Businesses Required to Publish Tax Strategy Online

New legislation enacted by the Finance (No. 2) Bill 2016, requires all UK large businesses to publish their annual tax strategy online. The legislation applies to over 2,000 UK businesses and is part of HMRC’s anti-tax avoidance and tax transparency plans.
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