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.
October 25, 2001
TT10: Internal Auditing
Auditors often discover frauds committed by members of clients’ own staff. These are not necessarily new recruits – they can be long-serving and valued members of the team. Theft of stock items is very common. Your company is especially at risk if you hold items of stock that are readily saleable e.g. finished goods.
October 22, 2001
TT9: Guard against surprise payroll costs
Payroll compliance is getting more onerous every day. The government is now using the PAYE system to target benefits to individuals, with the employer increasingly being expected to have expert knowledge of payroll compliance.
September 25, 2001
TT8: October 8th is Stakeholder Pension Day
With effect from 8th October 2001 all businesses employing five or more people must have systems in place to enable their employees to make pension contributions under the new stakeholder code.
September 22, 2001
TT7: Discover a tax-free bonanza
There’s gold in them there schemes No, we are not suggesting that you should go out prospecting for gold or trying to find treasure buried by pirates, although if you need a hobby, why not! In this Issue of Topical Tips, we highlight an important planning point regarding pension schemes which amazingly is seldom reported.
August 22, 2001
TT6: IHT planning can be fun
In this issue, we highlight an important inheritance tax (IHT) planning opportunity that is known as Double-Dipping. It is a technique that is available to husband and wife couples who own certain types of asset.
July 27, 2001
TT5: Reward valued employees paying only 10% tax
The 2000 Finance Act introduced an exciting new share option scheme aimed at smaller trading companies that need to help recruit or retain key employees. Following changes to the rules made by the 2001 Finance Act, the scheme was broadened to include all employees.
July 23, 2001
TT4: Can we get the VAT back?
In a previous issue of Topical Tips, we highlighted the different tax treatment that arises when a business buys vans for employees to use privately rather than cars. One area of difference is VAT.
July 22, 2001
TT3: Cut the Tax on Your Investments
In Issue N0.2 of Topical Tips we explained how Business Asset Taper Relief can mean that substantial gains realised on the disposal of businesses can attract an effective tax rate of only 10% if the asset is owned for a relatively short qualifying period (currently four years- but see below).
June 22, 2001
TT2: Taper Relief is What You Need
As any businessman knows, the time when you make real money from your business is when you sell it. Obviously there are lots of issues to consider in connection with the sale process: How much will you get? When should you sell it? etc., etc.
May 22, 2001
TT1: Avoid the Company Car Tax Trap
Company cars seem to be regarded as a soft target in the game of increasing taxes. The current tax year (ending on 5 April 2002) is the last year for which the existing tax regime will apply.