BR Blog

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 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.
December 11, 2018

Rise in HMRC mediation cases

There has been a dramatic increase in the amount of disputed tax collected by HMRC through mediation, according to research by law firm RPC. According to RPC, £40.8 million was collected through mediation for the year ending 31 March 2018, compared to £25.2 million for in 2016/17 – a 62% increase.
December 10, 2018

New probate fees to affect many estates

The government has revived plans to raise probate fees in England and Wales. A new, banded structure for probate fees in England and Wales is to be introduced, according to a written statement issued after the 2018 Budget. The announcement comes despite the 2018 Budget barely mentioning inheritance tax (IHT).
December 10, 2018

Are you taking your cyber-security responsibilities seriously?

Historically, IT grew as a responsibility of the finance function, largely because most of the early programmes were focused on providing and processing financial information.
November 26, 2018

Child Benefit – To Opt or Not To Opt Out?

Most of us are now familiar with the ‘high income’ child benefit charge, whereby a parent is in receipt of child benefit and the parent or someone else (not necessarily the parent’s partner) living in the same household earns in excess of £50,000, then the highest earner may need to repay some of the child. . .
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