Category Archives: Blog

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…

Notify option to tax land and buildings within 30 days

If you are notifying HMRC of a decision to opt to tax land and buildings, you are normally required to notify HMRC within 30 days. The 30 day deadline was temporarily extended to 90 days to help businesses and agents during the pandemic, but that temporary extension has now ended for decisions made from 1…

We are hiring – Office Administrator – Penrith Office

Saint & Co Chartered Accountants are looking to hire an office administrator to join our Penrith Office. Saint & Co are a well-respected firm, and we pride ourselves on being a diverse accountancy firm that can personalise our services to all sectors of the community. Our offices are based across Cumbria and South West Scotland…

September is the last month for CJRS “furlough” grants

The Government are pulling the plug on support to employers for furloughed staff at the end of September as they anticipate that the economy will be back to normal by October. The grant claims for employees furloughed in the month of September are 60% of the employee’s usual pay up to a maximum cap of…

How can I manage costs and drive the profitability of my farming business? 

Your farming business is incredibly important to you – not just because of your connection to the land and your passion for your community, but because it’s how you support yourself and your family. There are so many elements of business you’re considering, and a very important one is your finances. By being aware of…

Customs Declaration Service to become UK’s single customs platform

HMRC will be closing its Customs Handling of Import and Export Freight (CHIEF) system on 31 March 2023. From this date, all businesses will need to declare goods through the Customs Declaration Service (CDS). CDS is currently used for Northern Ireland and Rest of World declarations. Ahead of the 31 March 2023 complete closure, services…

Accounting for Import VAT on your VAT return

HMRC have recently updated their guidance on accounting for VAT on goods imported from outside the UK which, since Brexit, includes the European Union. Businesses registered for VAT in the UK can account for import VAT on their VAT Return for goods imported into: Great Britain (England, Scotland and Wales) from anywhere outside the UK…

VAT rate change for the hospitality and tourism sector

The hospitality and tourism sector has been enjoying a reduced rate of VAT (5%) since 12 July 2020. It applies to most supplies made by hotels, tourist attractions, members’ clubs and most places that host events. It also applies the food and drink served in those premises, hot takeaway food and drink, but not alcoholic…