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.

December 22, 2003

TT45: Data Protection Act 1998

There are bandits in them there hills Previously in Topical Tips 30 the main requirements of the Data Protection Act, the procedures for registration and the eight principles of good information handling were outlined. This issue highlights the way the legislation is now being abused by unscrupulous organisations.
November 25, 2003

TT44: Company Car Tax

The iniquity of scale charges Regular readers know we are always keen to explore ways in which the tax charges arising from the private use of a company car can be minimised.
November 22, 2003

TT43: Family Inheritance Tax

Tax is a family matter Previously in Topical Tips we have drawn attention to the need to take advice on family inheritance planning. The importance of this has been further emphasised by a real life case that received some publicity….
September 22, 2003

TT42: Capital Gains Tax Exemption

Sell at a profit and pay no tax! A little known fact is that some items are, by definition, not subject to Capital Gains Tax (“CGT”) should you sell them at a profit. These items are called Wasting Assets and are defined as assets having a useful life of less than 50 years.
July 22, 2003

TT41: Inheritance Tax Plannings

… and the Eversden Trust scheme really annoyed them! In a well-publicised tax case called IRC v Eversden, the taxpayer established a trust for the lifetime benefit of her husband but with the proviso that, on his death, the trust’s assets would be held for a wide class of beneficiaries including her.
June 22, 2003

TT40: Child & Working Tax Credits

A pointless parallel? …Or smoke & mirrors? These new tax credits have been in existence since 6 April 2003 and are seen by many as little more than political sleight of hand.
May 23, 2003

TT39: Company Van Treatment

In issue 1 of Topical Tips we highlighted the substantial tax savings that could be enjoyed by having the private use of a company van rather than a company car.
May 22, 2003

TT38: Maternity & Sick Pay Changes

New employee rights from 6th April All employers need to be aware of recent major changes to employees’ rights to maternity leave, paternity leave and sick pay.
April 25, 2003

TT37: Business Asset Tax Relief

“Entrepreneurs threaten to quit UK over stealth tax” – that’s what was written in The Times on 26th March in respect of a perceived new attack on Business Gift Relief by the Inland Revenue. The theme has been much replayed elsewhere.
April 22, 2003

TT36: Settlements Legislation

A tax efficient means of remuneration for many small business owners is by way of dividend rather than salary. This itself is not under threat, but in certain instances where non-working spouses receive dividend payments the Inland Revenue is beginning to take an aggressive new stance.
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