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.

October 11, 2019

TT303: Cracking down on compliance pays for HMRC

New figures show HMRC’s “customer compliance” efforts are yielding substantial sums.  In early August, HMRC issued its annual report and accounts for 2018/19. While is 301 pages are not everyone’s choice of holiday reading, it did contain some eye-opening information about the “compliance yield” – how much HMRC raised from its work in countering tax avoidance schemes, tax evasion and plain fraud.
October 03, 2019

TT302: Well-being at the heart of recruitment and retention

People always aspire towards achieving the elusive ‘work-life balance’, but in 2019 it’s increasingly an expectation as employees look to their workplace for more than just salary and perks. A survey by Accountancy Age, in October last year, revealed that UK workers spend almost 3,515 days at work during their lifetime.
September 26, 2019

TT301: Deadline spurs surge in Making Tax Digital registrations

Businesses rushed for last-minute sign up for Making Tax Digital (MTD) before the first quarterly VAT submission deadline, according to figures from HMRC. A blitz from software advertisers, and online updates from the government, encouraged qualifying businesses to register before by 7 August, the deadline for submitting their first quarterly VAT filing using MTD.
September 12, 2019

TT300: Brexit? Exit no deal?

How will this impact on recovering debts post Brexit? Brexit looms large for all businesses, some of which trade with Europe.
August 29, 2019

TT299: Reasonable Excuse

In certain circumstances HM Revenue & Customs (“HMRC”) can levy penalties against a taxpayer.
August 14, 2019

TT298: The taxing problem of plastics – a challenge for all

The Treasury has said a single use plastic waste tax will be brought in – but not for three years. What can you do in the meantime to help tackle the environmental challenge? Legislation on a plastics tax is now slated for April 2022 following proposals expected to be included in the next Budget.
August 05, 2019

TT297: All change for Contractors under CIS

Updated September 09, 2019 The new rules relating to VAT for the building and construction sector are now due to start from 1 October 2020. A brief overview of the new rules: From 1 October 2020, subcontractors on most CIS work will no longer charge VAT within the supply chain.
July 29, 2019

TT296: Buy-to-Let Tax Planning

In recent years HMRC has introduced measures that have impacted, mainly negatively, on buy-to-let landlords. In the 2018 Budget there were yet more announcements due to take effect in April 2020 which affect let properties and in particular let properties where the owner once occupied the particular property as a main residence.
July 22, 2019

TT295: Some relief for company car drivers

In the Autumn 2017 Budget the government announced that from April 2020 all newly registered cars will have their emission levels for company car tax purposes determined under a new standard known as WLTP (Worldwide Light vehicles Test Procedure). This replaces the previous test known as the New European Driving Cycle (NEDC).
June 17, 2019

TT294: Share Incentives

For small businesses attracting and retaining staff is often difficult especially when competing with large corporates who offer attractive benefits such as share schemes. Share incentives are an area often overlooked by smaller firms given that there is usually no traded market for the businesses’ shares.
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