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.

February 23, 2011

TT161: iXBRL – An Update

As we have reported in earlier Topical Tips (TT 151 & TT 158), HM Revenue & Customs (“HMRC”) have mandated a change in the way that financial statements, tax returns and tax computations are filed. Basically, filing submissions from 1 April 2011 will be expected to be iXBRL compliant.
January 23, 2011

TT160: Business Record Checks

Small and medium businesses (SMEs) are being urged to maintain accurate and up to date financial and business records. HMRC has announced it is planning a programme of business records checks that will review both the adequacy and accuracy of business records within the SME sector.
December 23, 2010

TT159: Professional Fee Protection

<em>With the Government looking to reduce the massive national debt there is now even more pressure on HM Revenue &amp; Customs (HMRC) to bring in additional monies to the Exchequer.
November 23, 2010

TT158: Corporation tax is going electronic! Or is it?

From 1 April 2011 all corporation tax payments and the filing of corporation tax returns will have to be done electronically. At least that’s what the press releases say. Tax payments Previously HMRC have accepted payments for corporation tax by cash, cheque or electronically.
October 23, 2010

TT157: Preparing your Business for Sale

<em>In the previous issue of <a href=””>Topical Tips</a> we looked at general grooming issues that can be applied to any business to help it operate at its optimum level, even if a sale is not being considered immediately.
September 23, 2010

TT156: Online fraud – a timely reminder

<em>As ever we encourage our clients to be vigilant and understand risks to their business.</em> However, the recent announcements by HM Revenue &amp; Customs (HMRC) about errors made and refunds due have triggered an increase in the attacks by fraudsters trying to get bank account details.
August 25, 2010

TT155: Maximising the Potential of Your Business

<h3>Prepare to sell – even if you are not going to</h3> One of the best ways to help your business reach its full potential, and maximise its value, is to run it on the basis that one day you will want to sell it.
August 23, 2010

TT154: Inheritance Tax relief for War Veterans

<em>Any member or ex-member of the armed forces will know of the so-called ‘covenant’ that is supposed to exist between the military and the country which they serve.</em> In exchange for the dangers and sacrifices that such people put themselves through, the country promises to look after them.
July 23, 2010

TT153: Cohabitation Agreements

In many respects, the law does not recognise cohabitation. Cohabitants’ rights are usually limited to financial claims on behalf of children and/ or claims in respect of property. A cohabitation agreement allows unmarried couples to formalise their relationship in a legally enforceable way.
June 30, 2010

TT152: Taxman helps you lose pounds

Anyone who remembers “Fat Fighters” from the “Little Britain” show might find it difficult to treat any story involving Weight Watchers without a smile but this latest story is very serious news indeed for anyone who organises their business using a self employed workforce.
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