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.
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. . .
March 28, 2003
TT33: Information & Communication Reliefs
Small companies can claim 100% tax relief on ICT until 31st March only! The Finance Act 2000 introduced a generous 100% tax write-down known as a “first year allowance” for small businesses investing in information and communications technology (ICT).
March 27, 2003
TT32: Tax-Free Development Gains Revisited
In Issue 19 of Topical Tips we reviewed how, in certain circumstances, tax-free gains could be made from selling off up to half a hectare (about an acre) of garden attached to a main residence. We will now consider what action should be taken if the garden is bigger than this.
March 26, 2003
TT31: Pre-March 1987 Pensions
In Issue 7 of Topical Tips we highlighted the incredible tax planning opportunities offered by pre-March 1987 pension schemes where beneficiaries can draw the whole of the funds of the scheme as tax-free cash.
March 25, 2003
TT30: Data Protection Act 1988
If your business processes information on individuals either on computer or manually, you are known as a Data Controller and there is a legal requirement for you to comply with the Data Protection Act. If you don’t you could face a fine of up to £5000.
March 23, 2003
TT29: Capital Expenditure Planning
Every year the Chancellor of the Exchequer announces changes to the way that businesses obtain tax relief on their plant and equipment.
March 22, 2003
TT28: Retirement Saving
What are you going to do to provide for your retirement? Many business owners say that their business is their pension scheme and/or they will rely on the cash tied up in their home.
December 22, 2002
TT27: Company Car Tax Loophole
In the very first issue of Topical Tips last year we drew your attention to the punishing new levels of company car tax that came into effect on 6 April 2002 and suggested certain ways in which these rules could be side-stepped.