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 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.
Annual Tax On Enveloped Dwellings
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.
Patent Box Regime
November 24, 2016

TT252: Autumn Statement 2016: all change for the Chancellor

The UK has experienced plenty of political upheaval this year with the EU referendum followed by a change of leadership. The Chancellor, Philip Hammond, delivered his first Autumn Statement on 23 November– which also turned out to be his last.
Annual Tax On Enveloped Dwellings
November 07, 2016

TT251: Large Businesses Required to Publish Tax Strategy Online

New legislation enacted by the Finance (No. 2) Bill 2016, requires all UK large businesses to publish their annual tax strategy online. The legislation applies to over 2,000 UK businesses and is part of HMRC’s anti-tax avoidance and tax transparency plans.
Company Law Update 2
October 27, 2016

TT250: Country-by-Country Reporting (CbCR) for Large Multinationals

Country-by-Country Reporting (CbCR) is one of the actions recommended by the Organisation for Economic Co-Operation and Development (OECD) as part of its work on Base Erosion and Profit Shifting (BEPS), to enhance global transparency and anti-tax avoidance.
September 26, 2016

TT249: Company Law Update 2

This is the second instalment providing an update on forthcoming company law changes. The majority of the planned changes have now been implemented including the introduction in June 2016 of the Confirmation Statement which replaced the Annual Return.
Company Law Update 2
August 18, 2016

TT248: The death of paper correspondence from HM Revenue & Customs (“HMRC”)

July and August are normally quiet months in terms of tax announcements. This is partly due to the Parliamentary break as well as the holiday season.
July 29, 2016

TT247: Incorporating Residential Property Portfolios

New measures to restrict relief for finance costs on residential properties to the basic rate of Income Tax will be introduced gradually from 6 April 2017. Together, with falling rates of Corporation Tax this has made the holding of property portfolios through a corporate entity very appealing for some people.
Incorporating Residential Property Portfolios
July 19, 2016

TT246: VAT partial exemption calculations

We are now past the VAT year end period – depending on the VAT quarter stagger of the business, VAT year ends are March, April or May. For partially exempt businesses, who make both exempt and taxable supplies, this is the period in which the partial exemption annual adjustment needs to be made.
Annual Tax On Enveloped Dwellings
June 16, 2016

TT245: Travel and Subsistence – Recent Legislative Changes

The Finance Bill 2016 contained full details of the changes which came into effect from 6 April 2016. These primarily affect the ability of employed workers to reclaim travel and subsistence expenditure where an employment intermediary (i.e.
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