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.

January 28, 2016

TT235: Tangible Fixed Assets (PPE) & Investment Properties (inc. Deferred Tax)

As part one of the six key areas of FRS102, this week we bring you the significant ways the new Standard will impact on how you present tangible fixed assets, investment properties and the potential effect on deferred tax.
January 21, 2016

TT234: FRS102 – Leases (s20)

Introduction 31 December 2015 has been the point for many companies to adopt FRS102. Under this new accounting standard there are many potential changes that need to be considered in terms of the treatment of certain transactions, how these should be accounted for, the disclosure requirements and the potential tax consequences.
Patent Box Regime
December 16, 2015

TT233: Financial Statements

Introduction Financial statements are important to enable users to make economic decisions about an entity but also serve a number of other purposes to include, reporting the performance of the entity under the directors’ stewardship, profits form the basis of tax computations reported to tax authorities, to determine realised profits available for distributions to shareholders,. . .
December 03, 2015

TT232: Mortgage interest tax relief – proposed changes

On the 8th July 2015 the government announced plans to restrict finance cost relief for individual landlords. The measures are to be phased in from the 6th April 2017 and will take full effect from the 6th April 2020.
December 01, 2015

TT231: Landlords are under attack!

It is often best to wait for the dust to settle following a Budget or an Autumn Statement and this is no exception. The headline grabbing tax measures were in respect to Stamp Duty Land Tax (“SDLT”) and Capital Gains Tax (“CGT”). This topical tip will focus on both CGT and SDLT.
November 26, 2015

TT230: Like it or not, FRS102 is coming!

For accounting periods starting on or after 1 January 2015, UK & Ireland company financial statements which currently use full Financial Reporting Standards will be prepared under the new FRS102 accounting standards.
November 12, 2015

TT229: ESOS Compliance – Large companies – ACT NOW!

You should be aware that by 5 December 2015, large companies in the UK must report on energy use and recommendations for energy savings under the UK Government Energy Savings Opportunity Scheme (ESOS) legislation. ESOS has been set up to follow the EU Energy Efficiency Directive (2012/27/EU).
Patent Box Regime
October 29, 2015

TT228: Taxation implications of the emission scandal

As you may be aware, a proportion of diesel vehicles have been caught up in the emission scandal. In short the VW group has been accused of and has admitted to fitting devices to some vehicles which during emission testing which gives lower nitrogen oxide (NOx) readings than when driven in normal road conditions.
September 01, 2015

TT227: Patent Box Regime – rules changing 30 June 2016 so act now!

Many of you will now be aware of the Patent Box Regime (“PBR”), which has been with us for over two years. The PBR allows companies which own patents, or certain other medicinal or botanic innovation rights, to elect for the profits relating to those patents or rights to arise within a ‘Patent Box’.
Patent Box Regime
August 21, 2015

TT226: Annual Tax On Enveloped Dwellings

If you: own a residential property in a company or a partnership with a corporate member and; the property is worth more than £500k; are planning on buying a residential property in the future Read on! As you may know, the Finance Act 2013 introduced detailed provisions to deter what was perceived as avoidance activity. . .
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