Topical Tips - page
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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.
January 22, 2005
TT59: Staff Home Computers
Sometimes, just sometimes, the Chancellor is kind with benefits in kind! Topical Tips 58 highlighted a tax efficient benefit enabling both employers and employees to save money by altering the employee’s remuneration package to include an element of child-care.
December 22, 2004
TT58: Employer Contracted Child-Care
An easing of the tax burden for parents From April 2005, employers can pay for child-care of up to £50 per person per week without the employee being liable for income tax and National Insurance Contributions. However, there are two conditions that must be met: The contract must be with a Registered child-carer.
November 22, 2004
TT57: Investment Property Finance
A bigger loan may not mean more tax relief With the recent increase in property prices, people owning investment properties may be thinking about increasing the borrowings on their investments to release equity and obtain more tax relief on the interest paid.
September 22, 2004
TT56: Sub-Contractor Tax Status
Sub-contractor or employee? The fact that an individual may hold a CIS card does not necessarily mean that he is a subcontractor for tax purposes! The Inland Revenue is undertaking a sweeping review of the “employment” status of various individuals working within the construction industry.
August 22, 2004
TT55: Prior Ownership Tax
Take care when you give things away! This issue looks at the complicated and onerous rules introduced by the 2004 Finance Act in respect of the beneficial enjoyment of property that has been wholly or partly given away. Under these new rules an income tax charge given the acronym POT (Prior Ownership Tax) arises.
July 22, 2004
TT54: Health & Safety Law
H&S is a potential minefield! Issues relating to Health and Safety (H&S) are of increasing concern to employers, and this edition of Topical Tips has been produced to provide a brief reminder of key points of the relevant legislation (The Health and Safety at Work Act 1974; The Management of Health and Safety at Work. . .
June 22, 2004
TT53: Private Fuel for Company Cars
Your company car tax review starts here Car taxation remains an area where employers find it hard to judge where a cost saving can be made and, if it can, hard to communicate the nature of the saving to employees.
May 22, 2004
TT52: Key-Man Insurance
Directors beware! Key-man insurance policies are becoming increasingly popular (or are increasingly being demanded by banks), but the tax treatment of the premiums payable and the proceeds receivable is far from straightforward.
March 25, 2004
TT51: Settlements Legislation
The recent Budget brought into focus the potentially very nasty Settlements legislation. This little-used legislation has been in existence for a number of years but it is becoming increasingly clear that the Inland Revenue is now seeking to use it in a more aggressive way as a means of blocking commonplace tax saving strategies.
March 24, 2004
TT50: Company Car Tax
Company cars revisited In this post-Budget issue we return to one of our favourite topics – the tax charge that is imposed on employees and directors who enjoy the benefit of private use of a company owned vehicle. The news is mixed: some bad, some good and some neutral.