Apr 13

Chancellor cuts fuel duty in Spring Statement

Chancellor Rishi Sunak announced a 5p per litre cut in fuel duty for petrol and diesel in the 2022 Spring Statement. The government says it is the largest ever cut on all fuel duty rates, which applies from 6pm on 23 March 2022. The Chancellor also announced that the starting thresholds for national insurance contributions (NICs) will rise to […]

READ MORE
Sage Easter Blog

Apr 08

Sage and Co Easter Opening Hours 2022

Easter Opening Hours This Easter we have decided to treat our fabulous team to an additional break, so our offices will be closed from 5pm Wednesday 13 April 2022 and will reopen Tuesday 19 April 2022 at 9am. Happy Easter from everyone at Sage & Company

READ MORE

Mar 25

Spring Budget Announcement

On the 23rd. March 2022 The Chancellor announced his spring budget statement. Click here to download our report on it.

READ MORE

Mar 16

Advisory fuel rates for company cars March 2022

New company car advisory fuel rates have been published and took effect from 1 March 2022. The guidance states: ‘you can use the previous rates for up to one month from the date the new rates apply’. The rates only apply to employees using a company car. The advisory fuel rates for journeys undertaken on […]

READ MORE

Over a million take advantage of extra time to file self assessment returns

HMRC has revealed that more than one million taxpayers filed their late tax returns in February – taking advantage of the extra time to complete their self assessment without facing a penalty. About 12.2 million taxpayers were expected to file a return for the 2020/21 tax year and more than 11.3 million submitted their returns […]

READ MORE

MPs call for road pricing to replace motoring taxes

The government must overhaul motoring taxes as it phases out new diesel and petrol vehicles, according to MPs. MPs on the Transport Committee say the government must come up with new policy options by the end of the year. A ban on the sale of new diesel and petrol vehicles will be introduced by 2030, which […]

READ MORE

HMRC raises late payment interest rate to 3%

Following the decision by the Bank of England to increase the base rate, HMRC has confirmed that the late payment interest rate rose a quarter of a percent. The increase applies from 14 February 2022 for quarterly instalment payments and from 21 February 2022 for non-quarterly instalment payments. On 2 February 2022, the Bank’s Monetary Policy Committee (MPC) increased […]

READ MORE

Two freeports planned for Scotland

A partnership agreement to establish two green freeports in Scotland has been reached between the Scottish and UK governments. The locations for the freeports have not yet been decided and there will be an application process with a view to setting up the freeports in 2023. Applicants in Scotland will be required to contribute towards a just […]

READ MORE

Businesses urged to apply for remaining COVID-19 support grants

Businesses are being encouraged to apply for remaining coronavirus (COVID-19) grant funding from local authorities. Hospitality, leisure and accommodation businesses can still apply for one-off cash grants of up to £6,000 through the Omicron Hospitality and Leisure Grant scheme. The funding is made up of £556 million available through the Omicron Hospitality and Leisure Grant […]

READ MORE

Coronavirus SSP Rebate Scheme set to close on 17 March

The Statutory Sick Pay Rebate Scheme (SSPRS) will close on 17‌‌‌ ‌March‌‌‌ ‌2022. The SSPRS was reintroduced by the government on 21 December 2021 for employers with fewer than 250 employees. The maximum claim per employee is two weeks at the statutory sick pay (SSP) rate of £96.35 per week (£192.70 in total), which is the rate for […]

READ MORE

Spring Statement is the time to act, says CBI

The Chancellor must act at the Spring Statement or risk the UK economy drifting backwards to low growth, warns the Confederation of British Industry (CBI). The Spring Statement will take place on 23 March 2022. The CBI has set out a range of policies it says are aimed at sparking growth via business investment. These include a permanent […]

READ MORE

Feb 11

BCC calls for ‘urgent action’ to improve UK-EU trade

The British Chambers of Commerce (BCC) has called for urgent action to help improve trade with the EU. A survey carried out by the BCC revealed that 60% of UK exporters reported difficulties trading with the EU. The business group said the number of lorries waiting to get into the port of Dover ‘also offers […]

READ MORE

Scam HMRC call reports drop by 97%

Reports of scam HMRC phone calls have fallen by 97% over the last 12 months, according to the latest figures from the tax authority. According to HMRC, reports of scammers impersonating HMRC in phone calls peaked at 79,477 in March 2021 and fell to just 2,491 in December 2021. The fall in scam call reports to HMRC has […]

READ MORE

No ‘convincing case’ for digital UK currency, says House of Lords committee

Creating an official digital currency in the UK could pose significant risks to the financial stability of banks, a House of Lords committee has warned. The Lords Economic Affairs Committee said introducing a Central Banking Digital Currency (CBDC) ‘would have far-reaching consequences for households, businesses and the monetary system‘. The committee made its conclusions after hearing testimony […]

READ MORE

National insurance rise ‘set to squeeze budgets’, warns CBI

The Confederation of British Industry (CBI) has warned the government that the planned rise in national insurance will squeeze budgets and affect economic growth. The rise will see employers, employees and the self-employed pay 1.25p more in the pound from April 2022. From April 2023, the extra tax will be collected as part of the […]

READ MORE

Consumer group urges taxpayers to avoid using refund firms to claim tax rebates

Consumer group Which? has urged taxpayers to avoid using so-called ‘refund firms’ to claim tax rebates. Which? stated that people are losing hundreds of pounds by using third-party companies to claim tax rebates rather than going directly to HMRC. Research carried out by the group found that one in five people had been either contacted directly […]

READ MORE

Claims portal reopens for Statutory Sick Pay Rebate Scheme

HMRC has reopened a claims portal for small employers to again claim refunds for coronavirus (COVID-19)-related sick pay. The reopening follows the announcement of the reintroduction of the Statutory Sick Pay Rebate Scheme (SSPRS) from 21 December 2021 for employers with fewer than 250 employees by the government. The maximum claim per employee is two weeks […]

READ MORE

Government scheme gives discounts of up to £5,000 on accounting software

The government’s Help to Grow: Digital scheme – designed to support smaller businesses in adopting digital technologies – is now open for applications. Under the scheme, eligible businesses can now receive discounts of up to £5,000 off the retail price of approved digital accounting and CRM software from leading technology suppliers. Businesses can also access practical, specialised support and advice […]

READ MORE

COVID-19 support grants paid to companies must be included on company tax returns

HMRC has warned that businesses must declare any coronavirus (COVID-19) support grants or payments on their company tax returns and stated that the grants and payments are taxable. The deadline for filing company tax returns is 12 months after the end of the accounting period. The deadline to pay corporation tax will depend on any […]

READ MORE

Jan 12

Over 440,000 small firms at risk due to late payment crisis

More than 440,000 small firms could be forced out of business by the late payment crisis, according to the Federation of Small Businesses (FSB). An FSB study of more than 1,200 business owners found that close to one in three has seen late payment of invoices increase over the last three months, with a further 8% experiencing other […]

READ MORE

Open Quote

From first going self-employed to starting a limited company, the fantastic accountants at Sage have talked me through the processes and looked after all things accounts-related, leaving me with peace of mind; free to focus on the day-to-day operating of the business. Sage handles everything for me from payroll to tax returns and their service is flawless; when I need something its done; when I need info I get it. All of their staff are friendly, professional, efficient and patient and I couldn’t manage without them.

 

Close Quote