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.

March 23, 2004

TT49: Money Laundering Regulations 2003

What is Money Laundering? ‘Money laundering’ is exchanging criminally obtained money or other assets for ‘clean’ money or other assets with no obvious link to their criminal origins.
March 22, 2004

TT48: Audit Exemption

Are you exempt from the requirement to have an audit? If your company’s financial year ends on or after 30 March 2004 increased audit exemption thresholds come into effect. The new thresholds are in line with the new small company limits.
December 24, 2003

TT47: Inheritance Tax & Family Home

A growing tax attack Inheritance Tax (“IHT”) used to be paid only by the wealthiest people in the country, but now many ordinary homeowners, especially those who live in the South East, are under attack.
December 23, 2003

TT46: Reducing Childcare Costs

A mismatch in the rules This issue of Topical Tips focuses on a mismatch between the income tax and National Insurance contributions (“NICs”) rules in respect of the benefit in kind that arises if an employee receives employer provided childcare support.
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.
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