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.
May 28, 2019
Record IHT take parallels estate planning confusion
While the Treasury benefitted from record inheritance tax (IHT) receipts of £5.2bn in 2018, new figures show that many people are unaware of how the IHT system works or how it could help them pass their wealth to their beneficiaries.
May 21, 2019
Doctors tapering off as pension tax rules bite
Measures designed to limit the cost of pensions tax relief to the Treasury are having some unwelcome consequences, as some senior doctors have found their incomes disappearing. Some members of the medical profession have found changes to legislation mean their earnings are getting swallowed up by the tax system.
May 14, 2019
Painful lessons from the loan tax charge
5 April also marked the deadline from which those still affected by loan schemes will now have to pay a potentially punishing tax bill. The controversy surrounding the loan charge deadline is a reminder of the dangers of aggressive tax planning.
May 07, 2019
Probate fees hike delayed
An expected revision of the probate fees structure for England and Wales set for 1 April has been delayed. The proposed changes will increase the cost of probate from the current single, flat charge of £215 to a minimum of £250.
May 01, 2019
Company of Good Standing?
I was recently requested to provide a client with an up to date ‘confirmation of good standing’ in connection with a tendering process in China and must admit I had not come across this before.
April 30, 2019
Property tax payment window cut
From 1 March the timescale for payment of stamp duty land tax (SDLT) in England and Northern Ireland has been cut in half. Both residential and commercial property transactions now have only 14 days to pay SDLT. The cut, down from 30 days previously, affects all property transactions in the two countries.
April 23, 2019
Remember the Spring Statement?
The Chancellor’s Spring Statement could easily have passed you by as March was dominated by other high-profile events. Ever since he announced a move to an Autumn Budget in 2016, Philip Hammond has made it clear that he wanted to avoid the Spring Statement becoming a mini-Budget.
April 22, 2019
Enterprise Investment Schemes (“EIS”) – shelter for capital gains
Many people are probably broadly familiar with the income tax relief available where a qualifying EIS investment is made, and tax relief is given equal to 30% of the amount subscribed by an individual for new qualifying shares (ie. a tax repayment of £3,000 arises on a £10,000 investment).
April 16, 2019
Up and running – MTD for VAT is live
After tests, pilots and amid continuing controversy, Making Tax Digital (MTD) for VAT went live on 1 April. All VAT registered businesses above the £85,000 threshold are now required to keep their records digitally and submit their VAT return via compatible software.
April 08, 2019
A new mission for emissions?
Back in 2015, the motoring world was hit with the news that VW diesel cars were only efficient during the testing stage and that in reality the amount of CO2 pollution was much higher.