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.
November 22, 2003
TT43: Family Inheritance Tax
Tax is a family matter Previously in Topical Tips we have drawn attention to the need to take advice on family inheritance planning. The importance of this has been further emphasised by a real life case that received some publicity….
September 22, 2003
TT42: Capital Gains Tax Exemption
Sell at a profit and pay no tax! A little known fact is that some items are, by definition, not subject to Capital Gains Tax (“CGT”) should you sell them at a profit. These items are called Wasting Assets and are defined as assets having a useful life of less than 50 years.
July 22, 2003
TT41: Inheritance Tax Plannings
… and the Eversden Trust scheme really annoyed them! In a well-publicised tax case called IRC v Eversden, the taxpayer established a trust for the lifetime benefit of her husband but with the proviso that, on his death, the trust’s assets would be held for a wide class of beneficiaries including her.
June 22, 2003
TT40: Child & Working Tax Credits
A pointless parallel? …Or smoke & mirrors? These new tax credits have been in existence since 6 April 2003 and are seen by many as little more than political sleight of hand.
May 23, 2003
TT39: Company Van Treatment
In issue 1 of Topical Tips we highlighted the substantial tax savings that could be enjoyed by having the private use of a company van rather than a company car.
May 22, 2003
TT38: Maternity & Sick Pay Changes
New employee rights from 6th April All employers need to be aware of recent major changes to employees’ rights to maternity leave, paternity leave and sick pay.
April 25, 2003
TT37: Business Asset Tax Relief
“Entrepreneurs threaten to quit UK over stealth tax” – that’s what was written in The Times on 26th March in respect of a perceived new attack on Business Gift Relief by the Inland Revenue. The theme has been much replayed elsewhere.
April 22, 2003
TT36: Settlements Legislation
A tax efficient means of remuneration for many small business owners is by way of dividend rather than salary. This itself is not under threat, but in certain instances where non-working spouses receive dividend payments the Inland Revenue is beginning to take an aggressive new stance.
March 30, 2003
TT35: National Insurance Increases
A recent survey by a leading firm of consultants showed that 60% of the UK population are unaware how the impending rise in National Insurance Contributions will affect them! In fact, it’s going to cost most people dearly, and employers even more.
March 29, 2003
TT34: Company cars: more tax changes
From 6 April 2003 the tax rules on company cars change yet again! Here are six points you should consider: New basis of fuel scale chargeFrom 6 April 2003 the fuel scale charge benefit in kind will be calculated by taking the percentage used to calculate the car benefit (dependent on CO2 emissions) and multiplying. . .
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