Leach’s Tax Dictionary. Version 9 as at 5 June 2016. Page 1 S S Tax code The letter S before a PAYE tax code indicates that the employee is regarded as subject to the Scottish rate of income tax (SRIT) from 6 April 2016. National insurance Contribution letter for an employee who is in a money purchase occupational pension scheme but who does not pay national insurance. The letter is replaced by C from 6 April 2012. Other meanings (1) Shaw, Scottish law reports of Session Cases, published between 1821 and 1838. (2) Old Roman numeral for 7. (3) US dollar, more popularly represented by the symbol $. This was first used in 1785. It is believed to be a corruption of the figure 8. (4) South. (5) CFI code for an ordinary share. (6) For pool betting duty, this denotes the total of stakes. (7) Amount surrendered, as used in the formula in Corporation Tax Act 2009 s1201. (8) For capital allowance on an assured tenancy, the starting expenditure attributable to the dwelling-house (Capital Allowances Act 2001 s522). s (1) Section, particularly of an Act of Parliament. (2) Shilling, pre-decimal unit of currency worth 5p, so 4s = 20p. S£ Abbreviation: Syrian pound. S$ (1) Abbreviation: Singapore dollar (2) Abbreviation: tala, currency of Samoa. SA (1) Self-assessment. (2) Abbreviation used in Income and Corporation Taxes Act 1988 s444AJ(5) to mean “surplus arising” in relation to life assurance business. S & L Savings and loans. S2P State Second Pension. [The abbreviation SSP is used for statutory sick pay.] SA South Africa, including its law reports published from 1948. SAAD Simplified Administrative Accompanying Document Leach’s Tax Dictionary. Version 9 as at 5 June 2016. Page 2 SAARC South Asian Association for Regional Cooperation. Its members are: Bangladesh; Bhutan; India; the Maldives; Nepal; Pakistan and Sri Lanka. SAB Safeguarding Adults Board. Saba One of the islands of what was known as the Netherlands Antilles. Sabbath Holy day of the week. This is generally Friday for Muslims; Saturday for Jews; and Sunday for Christians. There are some special trading provisions for Sunday. sabbatical Period of leave, usually paid, to allow a person to study or rest. These are common in education and the church. sabbatical officers Term considered in the VAT case Keele University Students Union [2009] TC 82. The union wished to claim VAT exemption for admission to cultural entertainments under Value Added Tax 1994 Sch 9 Group 13 Note 2(c). This required the union to be run on a voluntary basis. The union was run by sabbatical officers who received bursaries that were below the market rate for the job but which were not nominal. This meant that the union was not run on a voluntary basis and could not claim the exemption. sabin Unit of 2acoustic absorption. sabotage Deliberate damage to another’s property. Payments to buy off a saboteur are not tax deductible as they are a criminal payment and disallowed by Corporation Tax Act 2009 s1304. The matter is discussed in the Inspectors’ Manual at BIM 43180. SaBRE Support for Britain’s Reservists, part of the Ministry of Defence that deals with reservists. SAC Summary Appeal Court. saccharometer Hydrometer used to measure the concentration of sugar solutions. It was invented in 1847 and used to measure the strength of beer for beer duty purposes from 1880. sack Dismissal from employment. The term comes from the old practice of giving the worker a sack in which to remove his belongings. sackcloth and ashes Colloquialism for the state of contrition and penitence. The term comes from the ancient Hebrew custom of wearing such items. sacrifice Voluntary offering of one’s property, particularly to appease gods. In finance, the term is used to mean giving up one benefit to receive Leach’s Tax Dictionary. Version 9 as at 5 June 2016. Page 3 another, such as a salary sacrifice scheme to gain a better pension. SAD Single Administrative Document. SA Donate A scheme where self-assessed taxpayers may indicate on their tax returns that they wish any tax refund to be donated to a charity. The scheme was introduced in 2005. Hardly any use was made of it, so it was closed from 6 April 2012. saeve indignatio Latin: extreme indignation. SAFE Strategic Accounting Framework, HMRC computer system. safe Definition A secure repository for storing cash, documents and other valuable items. They are also known as coffers and strongboxes. A safe can be as large as a room, though such safes are more commonly known as strong rooms or vaults. A safe may be disguised as a concealment device. In addition to providing protection from theft, a safe may offer protection from fire. In the UK, safes conform with the standards set out in British Standard EN-1047 on fire retardance and impact resistance. Capital allowance This is listed in Capital Allowances Act 2001 s23 List C as an item that is not affected by the provisions of s21 (buildings) or s22 (structures). This means that its eligibility for capital allowance depends on the nature and purpose of the item. Spirits duty The term has a specific meaning for spirits duty, as set out in Customs notice 39. safe-bouncing Opening a safe by hitting it hard on the top so that the lock springs open. safe-cracking Opening a safe without the key or lock combination. safe deposit Safe primarily used to keep valuables such as currency and jewels. safe-for-work Description of a product or service that is safe for use in the workplace. It includes websites that are free of nudity and hate speech. safeguarded amount Balance that must be left in a taxpayer’s bank account after HMRC has seized the funds under the provisions of Finance (No 2) Act 2015 Sch 8, which require no court approval. The safeguarded amount is £5,000 for a first hold notice and zero for a subsequent hold notice. safeguarded rights For pensions, the rights as set out in Pension Schemes Act 1993 s68A. Leach’s Tax Dictionary. Version 9 as at 5 June 2016. Page 4 Safeguarding Adults Board (SAB) Board that each local authority is required to establish under Care Act 2014 s43. safeguarding adults review A review that a Safeguarding Adults Board may be required to carry out into a particular individual under Care Act 2014 s44. safe harbour Term for any provision which provides a measure of protection against a regulation. For controlled foreign companies from 2012, the term relates to activities that are automatically not within the UK tax charge. safe harbour profits In relation to the new regime for controlled foreign companies, refers to such a company that makes a low profit relative to its cost base and would therefore be exempt from a UK tax charge. safe house Place where a person may be kept safely, such as when they are vulnerable to violence, abduction or intimidation. safety factor Ratio between the actual breaking point of a material or structure, and the permissible minimum. By extension, this is used for any similar margin, such as an addition to cost price to allow for lower than expected sales. safety need Second level under Maslow’s hierarchy. The security a person needs to feel to be able to address social needs. safety net Net placed below acrobats to prevent injury if they have an accident. In finance, the term is used to mean any similar provision designed to minimise the consequences of an adverse situation. safety paper Paper that is designed to be difficult to copy, such as is used for banknotes and some documents. safety seat In relation to the reduced rate of VAT for child car seats, “means a seat — (a) designed to sat in by a child [under 14] in a road vehicle, (b) designed so that, when in use in a road vehicle, it can be restrained in one or more of the following ways — (i) by a seat belt fitted in the vehicle, or (ii) by belts, or anchorages, that form part of the seat being attached to the vehicle, or (iii) by a related base unit, and (c) incorporating an integral harness, or integral impact shield, for restraining a child seated in it” (Value Added Tax 1994 Sch 7A Group 5 para 2). safety valve A means by which excess pressure, such as in a boiler, may be relieved to prevent damage. By extension, the term applies to any such similar provision, such as a clause in an agreement. Leach’s Tax Dictionary. Version 9 as at 5 June 2016. Page 5 SAI Amount shown in a unit trust’s scheme as income. The abbreviation is used in Corporation Tax Act 2009 s973(2). SAIL address Single alternative inspection location. This term is used by Companies House when a business holds its records for inspection at an address other than its registered office. sailaway boat A vessel supplied VAT free in the UK, which is to be exported under its own power to a destination outside the VAT territory of the EU. The special VAT provisions for sailaway boats are given in VAT notices 703/3 (intra-EU) and 703/2 (outside EU). sailing The Customs implications of sailing to and from the UK are set out in Customs notice 8. The special VAT provisions for sailaway boats are given in VAT notices 703/3 (intra-EU) and 703/2 (outside EU). SAIM Prefix for HMRC’s tax manual on savings and investment. Saint Helena UK Overseas Territory comprising a volcanic island in the South Atlantic Ocean.