We're all about communication at Barnes Roffe, especially when it comes to our clients and contacts: existing or potential. For this reason we have set up our 'Blog Spot'. To help you to get to know our team, recognise our motivations and more importantly feel confident in the strategies we promote.We post here regularly, to help give you the insight and understanding you need to take every market change in your stride.
March 05, 2021
Prepare for the new tax year
Taking some time to start planning for 2021/22 now can be worthwhile. While there is often a focus on planning for the end of the tax year, much less attention is paid to the start of the tax year.
February 26, 2021
A year on – four financial lessons from the Covid-19 pandemic
As the pandemic enters its second year, what have we learned? The World Health Organisation declared Covid-19 a pandemic on 11 March 2020, coincidentally the day that Chancellor Rishi Sunak presented his first Budget. At the time, the Chancellor announced a £12bn stimulus to counter the impact of the pandemic.
February 19, 2021
Brexit transition leaves questions on VAT
Many businesses are struggling with the VAT regime in place since Brexit, especially when it comes to exporting goods to the EU. We address some of the common misunderstandings. Exporting goods Provided you have proof of postage or shipment, goods exported from the UK to the EU are zero-rated.
February 05, 2021
Taxing wealth – a viable option?
An independent body of tax experts has set out the framework for a one-off wealth tax. Will the Chancellor be tempted? “[W]e have a responsibility, once the economy recovers, to return to a sustainable fiscal position.
January 29, 2021
Post-Brexit EU business travel
Business travel to the EU has become significantly more complicated since 1 January, with many activities carried out by short-term business visitors now requiring a work permit. Business travel includes activities such as travelling for meetings and conferences, providing services, and touring art or music.
January 22, 2021
Self-assessment: last minute filing
Some 2,700 taxpayers took time out from their Christmas day festivities to go online and file their self-assessment tax return for 2019/20. Despite such diligence, 45% of taxpayers (some 5.4 million) had still to file by the start of January, and it is very easy to make mistakes when left to the last moment.
January 15, 2021
New Covid business support measures
With a new national lockdown from 5 January, the Treasury announced another round of one-off cash grants for retail, hospitality and leisure businesses to help them through to the spring. There is also further discretionary funding to support other impacted businesses.
December 31, 2020
Capital gains tax: increases on the way?
A recent report could herald changes to capital gains tax. Last July the Chancellor asked the Office of Tax Simplification (OTS) to undertake a review of capital gains tax (CGT) “in relation to individuals and smaller companies”. The request was something of a surprise for two reasons.
December 21, 2020
Changes to the National Minimum and Living Wages
One of the announcements to come out of the Chancellor’s Spending Review was welcome increases to minimum wages. From 1 April 2021, the National Living Wage will get a 19p increase, going up to £8.91 per hour, with this rate being extended to employees aged 23 and over.
December 09, 2020
CBILS: the key to winter survival
A recent survey of small businesses has revealed that only a quarter of them are confident of their survival into 2021, with many worried about cash flow. Those businesses that took out Bounce Back Loans (BBLs) have already used up most of this funding.