Author Archives: Jane Maclachlan

Buying an electric car? Does it need to be new?

The shortage of semiconductors has meant long delays in the delivery of new cars. This has caused many company car drivers to choose a second hand car instead, but what are the tax consequences? Unless the car has zero emissions, the capital allowance rules are the same for new and used cars bought by the…

Is your business entitled to the employment allowance?

The Employment Allowance (EA) is a £5,000 allowance set against employer National Insurance Contributions (NICs) and has to be claimed each tax year by qualifying employers. The EA was increased from £4,000 to £5,000 this tax year to help to soften the blow of the 1.25% increase in employer contributions, now calculated at 15.05%. If…

Capital gains tax on separation and divorce

When a married couple or civil partners separate, tax planning is understandably not at the top of the list of their thoughts. However, a ‘no gain/no loss’ rule allows capital assets to be transferred between them free of capital gains tax (CGT) up to the end of the tax year in which they permanently separate….

Report employee benefits on Form P11D by 6 July

P11D forms for reporting expenses and benefits in kind provided to employees and directors in 2021/22 need to be submitted by 6 July 2022. Remember that reimbursed expenses no longer need to be reported where they are incurred ‘wholly, exclusively and necessarily’ in the performance of the employee’s duties. HMRC do however expect internal controls…

Advisory fuel rate for company cars from 1 June 2022

Unbelievably there were very few changes to the HMRC advisory fuel rates from 1 March 2022, which may not have been your experience at the filling station! Now that the increased prices have fed through into the HMRC calculations there are some significant increases from 1 June 2022, as set out in the table below….

Annual Tax on Enveloped Dwellings (ATED) returns and revaluations due

The Annual Tax on Enveloped Dwellings (ATED) was introduced in April 2012 and is charged where certain residential properties are owned within a corporate structure. This tax not only catches UK properties owned by wealthy oligarchs via offshore companies but also applies to UK resident companies. Originally the charge only applied where the value of…

We are recruiting for Accounts Clerks at our Ambleside Office

At Saint & Co we work with clients all along their journey, whether they’re just starting out, an established business or a private individual. We have a full range of accounting, tax, and business advisory services to help our clients improve, streamline and grow their business and personal finances. We’ve earned a reputation for honesty,…

Employers NICs in relation to ex-military staff

Last year the Government announced a one-year exemption from paying employers national insurance contributions (NICs) where military veterans are recruited by civilian employers. Employers can claim relief from employer NICs for the first 12 months of the veteran’s first civilian job after they leave the military. For 2021/22 employers had to initially pay the employers…