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.

November 23, 2007

TT106: Tax Threshold Changes

Little and large Usually tax allowances and National Insurance (NIC) rates for the coming tax year are published with the Chancellor’s Autumn Statement. However this year, in a break with tradition, the Government stated that the rates for 2008/09 would not be published until the retail price index for September 2007 had become available.
November 22, 2007

TT105: Inheritance Tax Changes

The current position Every person has a nil rate band (NRB) that they can pass on at death that is free of Inheritance Tax (IHT). The current NRB in 2007/08 is £300,000. With certain specific exceptions the amount of the deceased’s estate in excess of this NRB is subject to IHT at 40%.
October 22, 2007

TT104: Capital Gains Tax Update

A major shake-up As has been widely publicised after the Pre Budget Statement, there will be a significant change to the capital gains tax (CGT) regime from April 2008 for individuals and trustees making disposals.
September 22, 2007

TT102: Season Tickets – Tax Status

Staff benefit or entertaining? With the recent sale of debentures at Wembley Stadium and similar season tickets at Premiership clubs, it is worth reviewing the tax implications of businesses buying such things.
August 22, 2007

TT101: Companies House Annual Return

The way it was In previous years Companies House always sent out paper copies of companies’ Annual Returns (form 363). These forms show details of all directors, company secretaries and shareholders known by Companies House.
July 25, 2007

TT100: Tax-Free Business Mileage Rates – Update

Company car mileage rates change… yet again! In Topical Tips 94 and Topical Tips we advised on the updated rates available for employees to claim on business mileage when they pay for all the fuel on a company car.
July 22, 2007

TT99: Inheritance Tax Planning Update

The death of estate planning using houses and will trusts… There has been much inheritance tax ‘doom and gloom’ subsequent to a media storm about a tax case known as Phizackerley.
June 22, 2007

TT98: Offshore Bank Accounts

Or slick collection method? There has been extensive press coverage of an ‘Amnesty’ relating to tax liabilities arising from undisclosed offshore bank accounts. This refers to an initiative by HM Revenue & Customs (HMRC) called the Offshore Disclosure Facility (ODF).
May 24, 2007

TT97: Business Stationery Rules

What is BPR? The rules regarding business stationery have changed, but remarkably little publicity has been given to the fact! From 1st January 2007 the following applies to business stationery whether in hard copy, electronic or any other form: A company must state its name, in legible lettering, on all: the company’s business letters, order. . .
May 22, 2007

TT96: Business Property Relief

Take care of your family assets Families or business partners usually wish to ensure that they can properly plan for the death of a shareholder. If they undertake tax planning or succession planning without detailed advice then unexpected consequences can occur.
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