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.

October 07, 2013

TT189: Home is where the heart is

In TT 187, we brought to your attention a “crackdown” announced by HMRC into people who dispose of second homes, the idea being to charge CGT on gains made.
September 07, 2013

TT188: Scams and ‘Phishing’

Scams and ‘Phishing’ A message posted yesterday on the Companies House website has warned that emails are currently circulating that claim to come from Companies House and may have attachments or links embedded in them. Companies House has confirmed that these emails are NOT from Companies House and should be ignored.
August 07, 2013

TT187: Taxman Targets Second Homes

Taxman Targets Second Homes Recent reports in the media highlight what HMRC have described as a ‘crack down’ on possible capital gains tax (“CGT”) evasion on the sale of second homes. Apparently HMRC have been trawling through a decade of property transactions and have so far sent letters to 35,000 taxpayers who could owe tax.
June 07, 2013

TT186: Overdrawn Director’s Loan Accounts

In March 2013 HMRC announced new measures which extend the section 455 tax charge to deter tax avoidance using close company (directors) loans. These measures are intended counter arrangements where a close company makes loan advances, and in particular where “bed and breakfasting” is used: i.e.
April 14, 2013

TT185: Cloud Bookkeeping

<h3>What is cloud bookkeeping?</h3> Cloud bookkeeping is where a piece of software based solely online is used for bookkeeping. All data is stored online. <h3>Who provides this service?</h3> As with standard software, there are many different providers. Some companies, such as Sage and Quickbooks, also provide online bookkeeping software.
April 07, 2013

TT184: Business Confidence Growing

Feeling better? The evidence from our latest client survey suggests that whilst business confidence is improving, it’s a patchy picture when it comes to actual sales and real investment.
March 14, 2013

TT183: Relief from VAT on Bad Debts

People often forget or perhaps overlook that if you are a registered VAT Trader and one of your customers doesn’t pay you, you may be entitled to reclaim any VAT you have accounted for if and when the debt becomes “bad”! With the increase in the VAT rate to 20% in January 2011 this “Bad. . .
March 07, 2013

TT182: RTI – Are You Ready for the Revolution?

On 6 April 2013 the new PAYE Real Time Information (RTI) system will be introduced which will revolutionise the way in which employment taxes are accounted for to HMRC. In place of year end reporting (forms P35 etc.) employers will report payroll information to HMRC each time payments are made to employees.
November 07, 2012

TT181: High Income Child Benefit Charge

The Government has introduced a new and controversial charge which effectively claws back child benefit – called the “High Income Child Benefit Charge”. This will apply from the current tax year 2012/13, coming into effect from 7 January 2013.
October 07, 2012

TT180: Find Out What Real Firms Think of the Economic Outlook

In the real world where our clients live, away from bankers and pundits but where services and goods are bought and sold, confidence in the immediate future is falling, at least according to our latest client survey. But there is one bright spot.
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