Author Archives: Alex Dent

Do you hold investments for your grandchildren?

Do you have an investment bond policy that is written under trust? Are you a partner in a partnership that holds properties on behalf of the business? Are you an executor of an Estate which is taking longer than 2 years to administer? ARE YOU AWARE OF THE REQUIREMENTS TO REGISTER UNDER THE TRUST REGISTRATION…

How long do I have to keep my accounting records for?

We are often asked how long accounting records should be kept for.   Below are the statutory time limits set by HM Revenue and Customs for accounting, PAYE and tax return records, with lists of the documents that should be kept. For accounting records: VAT registered businesses must keep VAT records for at least 6 years….

Chancellor’s Spring Statement Summary

Today’s spring statement brought a welcome announcement of the increase in the national insurance primary threshold. Below is a brief summary of some of the measures to be introduced: National insurance – The threshold at which individuals start paying National insurance will rise to £12,570 in July this year bringing it into line with the…

Additional Restrictions Grant (ARG)

With all the uncertainty that continues into 2022, some of our clients may be experiencing a downturn in trade or other adverse effects. To support businesses who have been severely affected, the government has announced an Additional Restrictions Grant (ARG). If this applies to you and your business, you should keep an eye on the links…

Omicron Hospitality and Leisure Grant (OHLG) and Additional Restrictions Grant (ARG)

Many of our clients are now asking what grants they might be entitled to, when they are available and how much they might receive following the Government announcement just before Christmas regarding grants available to the hospitality and tourism sector. Here is a link to our previous blog giving a brief outline of the position https://www.saint.co.uk/new-financial-support-for-the-tourism-and-hospitality-sector/…

Autumn 2021 Budget

It was an unusual budget today delivered by Chancellor of the Exchequer Rishi Sunak; many expected changes in capital taxes and VAT did not materialise. The constant theme of the budget was that of growth and investing in the future to generate revenue for the government, with one of his goals being to reduce taxes…

Increase in National Insurance, increase in dividend tax, cap on care fees

The prime minister has confirmed that there will be a 1.25% increase to NIC and dividend tax rates. National Insurance Increases There will be a temporary increase in April 2022 of 1.25% to Class 1 and Class 4 NIC as well as a 1.25% increase in Class 1 Secondary NIC paid by employers. It will…

Self-Assessment Late penalties waived until 1 April 2021

Normally 30 days after the filing deadline of 31 January, on 3 March a late payment penalty of 5% is levied if you have not settled your tax liability in full by this date. Due to the coronavirus pandemic the date of the late payment penalty is to be extended to 1 April 2021. Meaning…

Budget Highlights

Chancellor Rishi Sunak delivered his Budget 2021 statement in Parliament at 12.30pm this afternoon, his opening sentiments were: “This Budget meets the moment with a three-part plan to protect the jobs and livelihoods of the British people. First, we will continue doing whatever it takes to support the British people and businesses through this moment…