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.

September 23, 2005

TT70: Tax-Free Staff Incentives

Many of our recent Topical Tips have dealt with various types of tax free ‘perks’ that can be offered to employees and this one is no exception! In this issue we look at three more tax-efficient incentives for employees! And remember, Directors are employees too! Tip 1 Mobile Phones Most people know that there is. . .
September 22, 2005

TT69: Company Car Fuel Update

In Topical Tips 53 we dealt with the important saving available if an employee chooses to pay for all fuel in their company vehicle and then claim back money for only the actual business mileage driven (to cover just the fuel cost).
August 22, 2005

TT68: Goodwill on Incorporation

Why is ‘goodwill’ an issue? Goodwill is the difference between the price the purchaser pays for the business and the value of the underlying assets. For example a business might have assets worth £100,000 (e.g.
July 25, 2005

TT67: Business Incorporation

Many businesses start as sole traders or partnerships, but after a short period of time often expand into serious concerns. It is then that the proprietors usually begin wondering whether they ought to be trading via a limited liability company (‘company’) or a limited liability partnership (‘LLP’).
July 22, 2005

TT66: Tax Return Update 2

Topical Tips 65 dealt with changes to the Income Tax Return situation for 2004/05. This issue deals with some advantages you might be able to claim from HMRC! Approved mileage allowances An employer can reimburse an employee for business travel in the employee’s own vehicle at approved mileage rates.
June 22, 2005

TT65: Tax Return Update 1

Returns they are a changing Yes, the tax return season has well and truly started! This issue of Topical Tips highlights some changes this year that might affect Barnes Roffe LLP clients.
May 22, 2005

TT64: New Accounting Standards

No more room for manoeuvre New accounting standards have been issued in the UK that attempt to harmonise UK accounting standards with International Standards. The standards have been introduced because businesses have used the lack of specific standards to measure income recognition (i.e.
April 22, 2005

TT63: Personal Pensions & Property

Owner-managers of businesses have often used a company Small Self Administered Scheme (“SSAS”) to make company pension contributions into their plan to invest in commercial property; other individuals can do the same with their personal pension scheme by starting a Self Invested Personal Pension (“SIPP”).
March 23, 2005

TT62: Reclaiming VAT on Employees’ Expenses

In a surprising case heard recently at the European Court of Justice (ECJ) it was held that UK VAT law was incompatible with European law. This means that there is potentially a forthcoming change in the way that UK companies handle their VAT reclaims for certain expenses paid to employees, particularly road fuel costs.
March 22, 2005

TT61: Companies House Changes & Security

There have been changes at Companies House and to the Companies Act 1985. Here we deal with the aspects that will most commonly affect our clients.
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