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 22, 2006

TT88: VAT on Fuel Costs

Company car, but no private fuel In Topical Tips 84 we dealt with the tax-free mileage rate that can be paid to employees to reimburse them for petrol on business journeys when using a company car.
October 23, 2006

TT87: Employee Benefits in Kind Update – Mobile Phones

Changes to exemptions The rules regarding the tax exemption for mobile phones were substantially amended by the Finance Act 2006, and this impacts from 6 April 2006.
October 22, 2006

TT86: Corporation Tax Update

It’s back to where we were! In 2002 the Chancellor introduced a nil rate of Corporation Tax for companies with profits of up to £10,000. It was an untypically naive move that led to a rash of small companies being set up, purely for the purpose of avoiding tax.
September 22, 2006

TT85: Construction Industry Scheme

Changes for next tax year In April 2007 the Construction Industry Scheme (‘CIS’) taxation regime will change significantly.These are the main points: The subcontractor will no longer present the contractor a card or certificate to demonstrate whether they should be paid gross or net of tax at 18%.
August 22, 2006

TT84: Tax-Free Business Mileage Rates

Money-saving update on company car fuel In Topical Tips 53 and Topical Tips 69 we dealt with the important saving available if an employee chooses to pay for all fuel in their company vehicle and then claims back money to cover the fuel cost for only the actual business miles driven.
July 22, 2006

TT83: Tax Return Filing Deadlines

Few people will have noticed that the last Budget hid a sneaky announcement by the Government that dramatically shortened the time taxpayers have to file their income tax returns.
June 22, 2006

TT82: On line Filing Incentives & Van Benefits

All may not be what it seems We all welcome Gordon Brown’s strenuous efforts to reduce the tax burden, or even to send us money tax-free, and recently he has done just that in relation to on-line filing of PAYE returns and van benefits….
May 22, 2006

TT81: Classic Car BIK

There is special legislation to deal with the benefit in kind (‘BIK’) value of certain classic cars because their list price will be low compared with their current value.
April 22, 2006

TT80: Benefits In Kind Update

No more tax-free computers! Disappointingly, last month the Chancellor of the Exchequer used the 2006 Budget to remove an important and useful tax break on staff benefits.
March 24, 2006

TT79: HMRC Spring/Summer Deadlines

As we approach the busy season for filing returns with Her Majesty’s Revenue & Customs (HMRC) and Companies House, here is a summary to help you meet the deadlines. April 2006 6thA-Day and start of the new pensions regime. Also the start of the new tax year.
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