Last year many businesses put on a “virtual” Christmas party event and HMRC agreed that would be acceptable in order for there to be no taxable benefit for the employees involved. There continues to be no taxable benefit for employees provided that all staff are invited, and the cost does not exceed £150 a head,…
Category Archives: Blog
Many were expecting the chancellor to announce changes to inheritance tax (IHT) in his Autumn Budget, However, like capital gains tax (CGT), the rules have remained broadly the same as last year. That means that each tax year individuals may make gifts of up to £3,000 in total and that amount is not included in…
03
Dec
Dec
Xero is a much loved software – a “beautiful” software. It’s magic, so people say. So what if you’re already using Xero but you’re not seeing the benefits? Often we meet business owners who have been moved over to the platform, but haven’t had the support to follow. They’ve been told it’s going to be…
How does your finance back office operate? It could be that you’re doing most accounting and finance tasks manually – using a cash book or an excel spreadsheet. It could be that you’re already using a digital system like Xero. Whatever your process, it’s important to step back every now and again and ask yourself…
Our Budget Summary provides an overview of the key announcements arising from the Chancellor’s speech. Additionally, throughout the Summary you will find informative comments to help you assess the effect that the proposed changes may have on you personally. Don’t forget, we can help to ensure that your accounts are accurate and fully compliant. We…
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…
07
Oct
Oct
We often get asked when reviewing accounts what certain things mean, so we thought it might be worth running through a few common terms with a brief explanation, although there are some less common things for the less popular letters, so here we go – A – Accruals – charges for work done or goods…
At Saint & Co we work with clients all along their journey, whether they’re just starting or an established business or a private individual. We have a full range of accounting, tax, wealth and business advisory services to help our clients improve, streamline and grow their business and personal finances. We’ve earned a reputation for…
The temporary 5% VAT rate that has applied to supplies made in the tourism and hospitality sector since the start of the pandemic comes to an end at the end on 30 September. The rate is increasing to 12.5% from 1 October until 31 March 2022; the standard rate will then apply from 1 April…
In our previous blog we mentioned that draft legislation has been published to change the basis periods for the assessment of self-employed profits to coincide with the tax year. The proposed new rules provide that from 2023/24 onwards profits or losses will be apportioned to tax years where the period of account does not coincide…
