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.

November 16, 2020

TT334: Investing/Doing business in the US: Post-Election Perspectives

As you might be aware, Barnes Roffe is a member of a worldwide association of accountants, tax advisors and lawyers spanning the globe.  The association is called International Practice Group  It exists to support our clients, wherever they go in the world to do business.
October 27, 2020

TT333: Still considering an electric company car?

There is currently a zero P11D benefit for the drivers of electric cars in 2020/21. The legislation for this change was included in Finance Act 2020 which also states that the benefit will be 1% of list price in 2021/22 and then 2% in 2022/23.
October 13, 2020

TT332: Self Assessment individuals to benefit from enhanced payment plans

HMRC has increased the threshold for paying tax liabilities to £30,000 for Self Assessment individuals to help ease any potential financial burden they may be experiencing due to the coronavirus (COVID-19) pandemic.
October 01, 2020

TT331: Capital Gains Tax (“CGT) planning opportunities in anticipation of increased rate of CGT

The press has been rife recently with speculation that rates of taxation and in particular CGT are set to rise imminently to fund the costs of Government support for the economy during the COVID-19 pandemic.
September 10, 2020

TT330: Cash flow forecasting in uncertain times

The phrase ‘cash is king’ is one commonly used in times of financial crisis that make cash a more valuable asset than holding other forms of investments.  However, for businesses, it is much more than that and it becomes a critical success factor to turn profit into cash to pay debts as they fall due.
September 04, 2020

TT329: Small Business Support Grants

£20 million in Small Business Recovery Grants On 30 July, the Government announced a new grant scheme to help small businesses recover and adapt from the challenges arising as a result of the Covid-19 crisis. The package of funding is supported by the England European Regional Development Fund (ERDF).
August 25, 2020

TT328: Will you be due a corporation tax refund?

With many industries facing uncertain times due to the COVID-19 pandemic, with those worse affected being the hospitality, tourism and aviation sectors, HMRC have issued an update to their guidance on repayments of corporation tax.
August 11, 2020

TT327: Temporary reduced rate of VAT and impact on flat rate schemes

From 15 July 2020 the hospitality, holiday accommodation and attraction sector will benefit from a temporary reduction in the rate of VAT from 20% to 5%. This temporary VAT rate will run until 12 January 2021.
July 28, 2020

TT326: R&D tax relief – Still a valuable relief despite the AHK case

Even in these difficult times the government want companies to claim R&D tax relief, where appropriate. The benefit of the SME scheme, for companies that have less than 500 employees and for some companies that have 500 or more employees, is that the corporation tax deduction for qualifying spend is increased by 130%.
July 10, 2020

TT325: Self-assessment July 2020 payment on account deferral

A reminder to ALL self-assessment taxpayers, not just the self-employed, that you are eligible to defer your July 2020 payment on account until January 2021.
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