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.

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.
March 23, 2004

TT49: Money Laundering Regulations 2003

What is Money Laundering? ‘Money laundering’ is exchanging criminally obtained money or other assets for ‘clean’ money or other assets with no obvious link to their criminal origins.
March 22, 2004

TT48: Audit Exemption

Are you exempt from the requirement to have an audit? If your company’s financial year ends on or after 30 March 2004 increased audit exemption thresholds come into effect. The new thresholds are in line with the new small company limits.
December 24, 2003

TT47: Inheritance Tax & Family Home

A growing tax attack Inheritance Tax (“IHT”) used to be paid only by the wealthiest people in the country, but now many ordinary homeowners, especially those who live in the South East, are under attack.
December 23, 2003

TT46: Reducing Childcare Costs

A mismatch in the rules This issue of Topical Tips focuses on a mismatch between the income tax and National Insurance contributions (“NICs”) rules in respect of the benefit in kind that arises if an employee receives employer provided childcare support.
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