Topical Tips - page
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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 04, 2017
TT262: Childcare Vouchers vs Tax Free Childcare
New research shows that nowadays parents face bills of almost a quarter of a million pounds to raise just one child to the age of 21. Based on current prices, approximately £70,000 of the total costs will be spent on babysitting, nursery fees or childminders.
September 05, 2017
TT261: Inheritance Tax (IHT) and the Non-domicile rules
The April Finance Act 2017 was pruned due to the untimely General Election, meaning that much of the legislation which was expected to come into force from 1 April 2017 has not been legislated for.
June 28, 2017
TT260: HM Revenue & Customs Errors on tax calculation 2016/17 Self-Assessment
Many of you would have seen the recent press regarding HMRC’s internal system errors in calculating the income tax payable for individuals in 2016/17.
June 14, 2017
TT259: Changes to the Companies House PSC regime from 26 June 2017
The person of significant control (PSC) regime introduced from April 2016 will see significant changes come into effect from 26th June 2017. Any changes to a Company or LLP’s PSC information will now require notification to Companies House on an event basis as opposed to annual reporting via the Confirmation Statement (formally the annual return).
May 17, 2017
TT258: Beware! More Fraudulent fee scams! EU VAT registration scam!
You might have been previously aware of fraudulent letters being sent from Eastern Europe to UK businesses in regard to Intellectual Property registration fees. These letters look like official letters from the Intellectual Property registrar in Europe.
May 02, 2017
TT257: The Apprenticeship Levy
This has now been introduced with effect from 6 April 2017 for all employers (company or partnership) with an annual payroll in excess of £3m (including associated companies). The Apprenticeship Levy must be applied if your 2016/17 payroll total was more than £3m.
April 21, 2017
TT256: Making Tax Digital
With less than a year to go until the rollout of Making Tax Digital (“MTD”) there are still a raft of unanswered questions about thresholds and software provision, not to mention the readiness and ability of HM Revenue & Customs (“HMRC”) to support such a radical overhaul of the tax system.
April 18, 2017
TT255: Annual tax on enveloped dwellings
We are all familiar with the term annual tax on enveloped dwellings ("ATED") which has been with us since the Finance Act 2013 introduced detailed provisions to deter, what was perceived, as avoidance activity using corporate structures to hold high value residential property.
April 12, 2017
TT254: New Small Company Filing Requirements
For small companies previously able to file abbreviated accounts with the Registrar of Companies, this option is no longer available for accounting periods beginning on or after 1 January 2016, as FRS 102 compliant accounts must be prepared.
March 13, 2017
TT253: Budget Summary Spring 2017
The 8th of March saw Philip Hammond deliver the first of two budgets scheduled for 2017. At a mere 69 pages, the Spring Budget was comparatively short, however the Chancellor still managed to throw in a few surprises.