Category Archives: Blog

My business is below the VAT threshold, so MTD doesn’t apply to me, does it?

Unfortunately the rules are changing soon, and MTD will apply to all VAT registered businesses even if they are voluntarily registered and below the VAT threshold. In short, if your business is VAT registered, it will need to file VAT returns directly from MTD compatible software. Within the software, there should be a digital record…

HMRC warning not to use unfunded pension arrangements

HMRC are currently attacking a marketed tax avoidance scheme using unfunded pension arrangements to avoid Corporation Tax, Income Tax and National Insurance contributions. HMRC strongly believes these arrangements do not work and will seek to challenge anyone promoting or using these arrangements and make sure the correct tax is paid. Users of these arrangements may…

The New Super-deduction – tax relief for capital expenditure

What is the new Super-deduction? As set out in the March 2021 budget, companies will be allowed to claim a new 130% capital allowance deduction on most new plant and machinery purchased between 1 April 2021 and 31 March 2023, and there is no limit as to how much can be claimed.   Any contracts for…

We are recruiting for an Accounts Assistant – Penrith Office

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…

Pension contribution is tax efficient for both employee and employer

Pension contributions to approved pension funds on behalf of employees and directors continue to be a tax-free benefit provided the annual input limit is not breached. The contributions are also deductible for the employer provided incurred wholly and exclusively for the purposes of the trade and paid before the end of the accounting period of…

We are recruiting for an Apprentice Accounts Assistant – Carlisle Office

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…

Beware of Tax Credits renewal scams

HMRC has warned tax credits claimants should be alert to potential scams. Visit GOV.UK for HMRC’s scams checklist to find out how to report scams and for information on how to recognise genuine HMRC contacts https://www.gov.uk/guidance/identify-hmrc-related-scam-phone-calls-emails-and-text-messages In the year to 30 April 2021, HMRC responded to more than 1,154,300 referrals of suspicious contact from the…

Tax free childcare account subsidises summer camp costs

If you have children under 12 who attend a nursery, after school club, playscheme, childminder or you are considering sending them to a summer camp you should think about setting up a tax-free childcare account. The government adds 25% to the amounts that you save in the account up to £2,000 for each child so…

Personal Tax Compliance and Planning Assistant (part time considered)

We are looking to recruit an experienced personal tax compliance and planning assistant to join our growing team in Carlisle. This is a great opportunity for someone who believes there’s more to tax than tax returns! We’ve earned a reputation for honesty, integrity and fairness and we’re committed to serving our local community. The role…