Category Archives: Blog

Revised advisory fuel rates from 1 March 2022

fuel rates

COMPANY OWNED VEHICLES HM Revenue and Customs have announced revised tax free advisory fuel rates from 1 March 2022 which may be paid for business journeys in a car owned by the business.   Rates for the previous quarter are shown in brackets.   Engine size Petrol Diesel LPG 1,400 cc or less 13p (13p) 8p…

New VAT penalty regime delayed to January 2023

A new, and arguably fairer, system for determining penalties for late returns and late payment of VAT was due to be introduced from April 2022. However, it has been recently announced that the start has been delayed until January 2023. The same system will also apply to returns under MTD for income tax and those…

Applications now open for the Omicron Hospitality and Leisure Grant

Applications for the Omicron Hospitality and Leisure Grant (OHLG) are now open. Our previous blog gave an outline of the OHLG grant and what eligible hospitality and leisure business can receive https://www.saint.co.uk/omicron-hospitality-and-leisure-grant-ohlg-and-additional-restrictions-grant-arg/ For closure dates (as these seem to vary from 28 February 2022 to 18 March 2022) and to apply contact your local council:…

Planning to sell your business in 2022?

Now that the economy is starting to recover, this could be a good time to think about selling your business. Remember that under the current capital gains rules, the first £1 million of an individual’s gains potentially qualify for a 10% rate of tax, provided business asset disposal relief applies. We can check whether or…

English BPS & the Lump Sum Exit Scheme

Defra have at last put some meat on the bones of the guidance for applying to claim the English Lump Sum Exit Scheme – unfortunately the guidance is still lean in some areas. Full current guidance is at https://www.gov.uk/government/publications/lump-sum-payments-for-farmers-who-leave-or-retire-from-farming-and-delinked-payments/lump-sum-exit-scheme-and-delinked-payments-how-the-payments-will-work If you claim the Lump Sum, you would not be able to claim BPS going forward…

No more payroll headaches – you focus on your business, and we’ll take care of the payroll

Are you feeling overwhelmed by the amount of time you are spending processing your payroll? The headache of managing your own payroll involves buying software, installing updates, ensuring you’re compliant with all HR regulations, dealing with all the pension regulations including deadlines for notifications; the more employees you have, the greater the payroll headache becomes….

Coronavirus Statutory Sick Pay Rebate Scheme

Employers can now use an online service to make claims through the Coronavirus Statutory Sick Pay Rebate Scheme to recover Statutory Sick Pay (SSP) payments they have made to current or former employees who were off work on or after 21 December 2021. Employers are eligible to claim back up to 2 weeks of Statutory…

Will there be a mini budget on 23 March?

Whilst most of us were wrapping our Christmas presents on 23 December 2021, the Chancellor of the Exchequer, Rishi Sunak, commissioned the Office for Budget Responsibility (OBR) to produce an economic and fiscal forecast for Wednesday 23 March 2022. The main Budget is scheduled for Autumn each year, but it is anticipated that the Chancellor…

130% super-deduction for investing in new plant continues

plant and machinery

Many businesses may have been too short of cash to take advantage of the new super-deduction for investing in new plant in 2021 but may be more confident about investing in 2022. This tax break, which started on 1 April 2021 continues until 31 March 2023, allows companies to deduct 130% of the cost of…