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.
January 24, 2019
Making Tax Digital Pilot
As the deadline for Making Tax Digital for VAT is fast approaching, HMRC has released further updates, one of which is the pilot (timeline) for businesses to consider. The primary organisations affected by MTD will be those with a turnover over the VAT threshold (currently £85,000).
January 17, 2019
Partnership tax filing – lessons from the tax tribunal
If you’re in a partnership, who is responsible for filing the partnership tax return? A recent First Tier Tax Tribunal (FTT) case has highlighted not just worrying HMRC practice, but also the need for clarity. Mrs L is a partner in a two-partner business.
January 16, 2019
Gig economy’ reprieved in overhaul of workplace rights
The government has responded to the Taylor Review into workplace rights by adopting the majority of its recommendations to provide greater protection for workers on flexible or zero hour contracts. The working economy has changed substantially and with it the need to ensure that all workers are treated fairly.
January 15, 2019
Bonus gender pay gap revealed
Men are receiving almost twice the level of bonuses as women, according to data from the Office for National Statistics (ONS). The spotlight in 2018 fell on the gender pay gap and revealed significant differences across many industries.
January 14, 2019
Counting down to Making Tax Digital for VAT
The stage is still set for Making Tax Digital (MTD) for VAT to be rolled out on 1 April. But according to the Institute of Chartered Accountants in England and Wales, 40% of relevant businesses aren’t aware they are about to be affected.
January 11, 2019
Setting your Intentions for 2019
It’s that time of year again. Have your New Year’s resolutions fallen by the wayside already? We all mean to do better about eating healthily, drinking less and exercising more as the year turns over a new page.
January 03, 2019
Four weeks to go ……………. The Self Assessment tax return filing deadline in looming!
Top tips for filing your 2017/18 Self Assessment tax return Registering with HMRC If this is your first year of filing a tax return, you will need to register with HMRC before you can start the Self Assessment process.
December 14, 2018
VAT change coming for construction industry
A new VAT reverse charge will apply to construction or building related services from October 2019. Under the new rules, a VAT-registered company purchasing certain construction services will be responsible for accounting the VAT to HMRC, rather than the supplier. The reverse charge includes goods where the goods are supplied with the specific services.
December 13, 2018
SMEs boost on apprenticeship levy
The government has halved the apprenticeship levy for small businesses, from 10% to 5%, with a view to increasing uptake of the scheme. This means that the government will pay 95% of training and assessment costs for any apprentices taken on by SMEs.
December 12, 2018
Time extended on entrepreneur’s relief
New restrictions added to entrepreneur’s relief (ER) during the 2018 Budget have reduced access to this valuable tax relief. ER provides a reduced rate of capital gains tax on disposal of shares – at 10% instead of 20% – for individuals, provided they meet certain conditions.