Topical Tips

We believe we are more than just your average accountancy firm. Our goal at Barnes Roffe is to engage our clients through a proactive relationship, which provides you with the resources and tools you need to enable you to take charge of your finances with confidence.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.

November 23, 2011

TT169: Important Changes to Annual Returns

If you prepare and file your own Annual Returns you must be aware of the recent changes that Companies House has introduced with regards to filing.   When do the changes come into effect? These changes affect annual returns with a made up date on or after 1st October 2011.
October 23, 2011

TT168: New Penalties Regime

Filling in and filing your personal tax return on time has become more important as HMRC have introduced a new regime of penalties that could see penalties of £1,600 or more for late filed tax returns.
September 25, 2011

TT167: Major Pension Scheme Changes

There are a number of significant changes affecting pension scheme rules coming into play in 2012 that impact both individuals and employers.
August 23, 2011

TT166: Short Life Assets

One of the many quirks of the tax system is that tax allowances for Plant & Machinery often do not reflect the economic life of the asset. And the position is about to get worse as the Government reduces these tax allowances.
July 23, 2011

TT165: Group Life Insurance Policy

You may be missing out on an opportunity to obtain cheap life insurance for you and your family, as well as providing a valued benefit to your key staff.
June 23, 2011

TT164: R & D Tax Credits

In the last budget, the Government announced significant improvements to what were already generous tax breaks to companies involved in Research & Development.
May 23, 2011

TT163: Cloud computing

What is Cloud Computing? Cloud Computing is a new way of acquiring the computing power, such as software, servers and databases, you need in order to run your business systems. It gives you access to massive computing resources but you only pay for what you use and there is no up-front investment.
March 23, 2011

TT162: Lump sum car allowances – Potential NIC reclaim

TT162 Lump sum car allowances – Potential NIC reclaim   You may have an opportunity to reclaim National Insurance Contributions (NIC).
February 23, 2011

TT161: iXBRL – An Update

As we have reported in earlier Topical Tips (TT 151 & TT 158), HM Revenue & Customs (“HMRC”) have mandated a change in the way that financial statements, tax returns and tax computations are filed. Basically, filing submissions from 1 April 2011 will be expected to be iXBRL compliant.
January 23, 2011

TT160: Business Record Checks

Small and medium businesses (SMEs) are being urged to maintain accurate and up to date financial and business records. HMRC has announced it is planning a programme of business records checks that will review both the adequacy and accuracy of business records within the SME sector.
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