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.

January 15, 2021

TT339: Supreme Court sides with small firms in business interruption insurance case

The Supreme Court has delivered its judgment in respect of the Financial Conduct Authority (“FCA”) business interruption insurance test case, with the court’s ruling in the favour of small firms.
January 12, 2021

TT338: Tariff free trade between the UK and EU

As announced just before Christmas the UK and EU agreed a trade deal which heralded tariff free trade. The Trade and Cooperation Agreement (“TCA”) was agreed between the UK and EU and came into force at 11pm on 31 December 2020.
January 04, 2021

TT337: Fraudsters don’t stop for Christmas

Many people will be aware that fraud attempts online have escalated during the Covid period.  Fraudsters have used the fact that people are working from home and are not in regular contact with colleagues to try and gain an advantage and extract money under false pretences.
December 02, 2020

TT336: Tax Investigation Insurance

What Is Tax Investigation Insurance? Tax Investigation Insurance covers you against the cost of any professional fees that you incur as a result of being investigated by HMRC. Tax Investigations are time consuming, complex and stressful. You will require specialist advice from us during an enquiry.
November 26, 2020

TT335: Changes afoot for Capital Gains Tax

Over the last few months many of the national newspapers have run stories on anticipated changes to capital gains tax (“CGT”).  The most common predictions have been the alignment of income tax and CGT rates and the abolition of Business Asset Disposal Relief (the relief formally known as Entrepreneurs Relief).
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 www.ipg-online.org.  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.
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