Topical Tips - page

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 28, 2019

TT288: DEBT FREE/CASH FREE share sales – Is it as simple as it sounds?

Most business owners will know that their businesses are generally valued by applying a multiple to their maintainable earnings – where the multiple reflects the risk of achieving those earnings. Therefore, the stronger the business, the higher the multiple used and the higher its value.
January 24, 2019

TT287: Are you ready for making Tax digital (MTD) on 1 April

From 1 April 2019 all businesses with taxable turnover above the VAT registration threshold (currently £85,000) must keep business records in digital form and file VAT returns using MTD compatible software. MTD will apply from the first VAT return period commencing after 31 March 2019.
January 07, 2019

TT286: Brexit Warnings

Now that the New Year is here the close proximity of the Brexit date of 29 March 2019 (at 11pm on that day if you want to be accurate) is creating some nervousness amongst our client base. The increasing possibility of a no-deal Brexit will have consequences which need some planning for: 1.
January 02, 2019

TT285: Entrepreneurs Relief – Budget Changes to the Availability of the Relief

In his Budget on 29th October 2018 the Chancellor of the Exchequer announced changes to the legislation on Entrepreneurs Relief (“ER”) to counter perceived to be abuses.
December 18, 2018

TT284: Credit Ratings

Credit ratings are an essential part of business and have a significant impact on financial decision-making from SMEs to large multinationals. Here at Barnes Roffe we are often asked to obtain credit reports for our clients and help to quickly evaluate financial health and enable confident credit related decisions to be made.
December 10, 2018

TT283: Mental Health in the Workplace – Is your business prepared?

Mental Health in the workplace is increasingly becoming an area that employers need to address. First and foremost, commonly our employees are also our friends and it is important to look after their welfare, however there is also a cost impact on businesses.
Home is where the heart is
November 19, 2018

TT282: IR35 changes extended into the private sector

Of the many announcements in the Chancellor’s recent Budget, one which is bound to concern private sectors businesses is the extension of the IR35 “off payroll” rules (where the IR35 status of the worker is determined by the engaging entity and not the worker) into the private sector from April 2020.
November 14, 2018

TT281: Interesting Decisions

The recent Tribunal case of G Daniels was interesting on two fronts. Firstly, it highlighted the complexities surrounding the rules associated with claiming travel and other expenses for the self-employed, and secondly, because it gave a rather worrying indication of the tribunal’s interpretation of the behavioural related penalty regime.
Company Law Changes
November 12, 2018

TT280: Payroll: Update on Automatic Enrolment & Possible Future Changes

Auto-enrolment obliges employers to enrol all workers who satisfy age and earnings criteria into a qualifying workplace pension and pay at least a statutory minimum level of contribution. Currently individuals earning over £10,000 who are at least 22 years old and under state pension age are eligible for auto-enrolment.
October 23, 2018

TT279: Does “Fairness” on taxable income only work in HMRC’s favour?

Recently, we have been reviewing the judgements handed down from Tribunals regarding two similar cases involving partial surrenders of life insurance policies. The first, Joost Lobler v HMRC [2015] UKUT 0152 (TCC) presented a situation where an elderly taxpayer had invested his life savings before he subsequently partially surrendered them in 2 tranches.
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