Monthly Archives: June 2016

Personal Taxation Planning Guide 2016-17

We are here to help…

Make good use of us! This guide is designed to help you identify areas that might have a significant impact on your tax planning. Please consult us early for help in taking advantage of tax-saving opportunities. We will be delighted to assist you.

Tax Planning is a year-round activity, but it takes on even more importance as the year end draws near.

Since taking office, the new all-Conservative Government has already outlined a number of significant reforms to the tax rules, many of which may have an impact on your financial planning for 2016/17 and beyond.

As your accountants we can advise on how these changes will affect you, and suggest strategies to help boost your business’s profitability, reduce your tax liabilities and maximise your personal wealth. These may include:

  • taking advantage of the tax breaks available to you and your business
  • planning to extract profits from your business tax-efficiently
  • utilising tax-advantaged savings options (including pensions)
  • minimising the inheritance tax due on your estate.
  • Also consider, capital gains such as:

Assets acquired, sold or which have become of negligible value.

‘Wind-fall’ receipts from building societies / insurance companies.

Sales of shares acquired under Company share options.

  • Employment income and the production of P60, P11D, P45 and PAYE coding notices, however Professional Subscriptions and other expenses of employment paid personally need to be considered.
  • Please note that from 6th April 2016, all bank interest will be paid Gross and tax will be collected at the point of the tax return date, and paid over once all tax has been calculated by the due date. This will affect clients with high investment incomes from banks and building societies.


Planning and careful timing are crucial. In some cases, the timing of a transaction or investment determines when any reliefs impact on your tax payments or your tax code.



This help-sheet contains some key points to consider ahead of the year end, but don’t wait until 5 April! Sending us your accounting and personal records in good time means we have plenty of time to discuss planning opportunities and help you manage cash flow by giving you early warning of any tax payments due. And of course, good timing will help to ensure that you avoid any unnecessary penalties and interest levied by HM Revenue and Customs.

On Capital Allowances, remember the timing for the purchase of capital allowances and that ‘Greener’ investment is encouraged through specific 100% allowances available for some investments, including energy-saving equipment and low CO2 emissions (up to 75 g/km) cars.

Otherwise the general rate of annual writing down allowance is 18% on the reducing balance, with an 8% allowance for certain categories, including cars with CO2 emissions exceeding 130 g/km, long life assets and certain specified integral features of buildings.


The New State Pension 2016

The amount of state pension you get will change if you qualify for it on or after 6 April 2016. The basic and additional state pensions are going to be replaced by a flat-rate, single-tier state pension with a full level of £155.65 in April 2016.

The table below compares the current and new systems based on 2016/17 figures.

State pension: what’s changing?
  Qualifying years needed What you


Full level of state pension Deductions Contracting




Before April 6 2016 30 Basic state pension plus additional state pension Basic state pension £119.30 Deduction for years contracted out of additional state pension (during transitional period) Yes Guarantee credit and savings credit
After April 6 2016 35 Single payment New state pension £155.65 Deduction for years contracted out of additional state pension (during transitional period) No – additional state pension no longer exists Guarantee credit

The additional pensions and ‘contracting out’ has been abolished, and so has part of the pension credit for those qualifying for the state pension on or after 6 April 2016.

To lift the burden of paying additional state pension to every worker, the government previously allowed pension savers to ‘contract out’ of the state second pension.

You paid less National Insurance and therefore didn’t get the additional state pension, and the money you saved in National Insurance was put into your workplace or private pension. Qualifying National Insurance years will also be increased from 30 to 35 years.

If you reach state pension age before the 6 April 2016 then the changes to the state pension will not affect you.


How much state pension will I get?

If you reach state pension age on or after 6 April 2016, your state pension figure will be calculated using the full level of new state pension of £155.65.

People might get more or less than the indicated full new state pension (eg their starting amount). Those that have built up a certain amount of additional state pension will get a higher amount, while those that were contracted out before 6 April 2016 for a significant time will probably get less.

This figure will be whatever is higher – either the amount you would get under the old system or the amount you would get had the new system been in place over the whole of your working life.

Exactly what you’ll get, which is based on your National Insurance record, will be no less than the amount you’d have received on the last day of the old scheme (5 April 2016). This assumes you have the minimum number of years on your National Insurance record to get any state pension (10 years).

What is Contracted out or contracted in?

Contracted out

If you’ve been contracted out, you’ve been making NI contributions at a reduced rate (in a DB scheme), or receiving a rebate into your pension pot (in a DC scheme).

The new system makes a reduction in the flat-rate pension in the same way a ‘contracted out-deduction’ has been made from your additional state pension under the old system.

If you’ve been contracted out but carry on working for a number of years after 2016, making full-rate NI contributions, you can carry on building up further state pension until you reach the full flat rate.

Contracted in

The new rules mean that no-one will lose any additional state pension they’ve accrued while contracted in. If you collect your state pension on or after 6 April 2016, the government will make two calculations.

The first will be your state pension entitlement under the old rules. The second will be the amount of state pension you are entitled to under the new post-April 2016 rules.

Whichever value is the highest is called your ‘starting amount’. If this is more than the full level of new state pension, you’ll get the higher amount.

A pension forecast

You can currently get a state pension forecast from the Department for Work and Pensions (DWP) at: or by calling 0345 3000 168.

The forecast gives you an estimate of what you can expect in terms of your state pension based on your National Insurance contributions.

Just note that those of you intending to retire abroad, you need advice as to which countries take the state pension and at what rate, and what their policy is regarding  getting the annual increases.


Inheritance Taxation (IHT)


Take advantage of IHT reliefs of up to 100%

There are a number of IHT reliefs available, perhaps most importantly relief on business and agricultural property, which effectively takes most of such property outside the IHT net. As always, there are detailed conditions, including a two-year minimum holding period, but business and agricultural property will generally attract 100% or 50% relief.

IHT exempt transfers between spouses

Transfers of assets between spouses or civil partners are generally exempt from IHT, regardless of whether they are made during a person’s lifetime or on their death. In addition, the nil-rate band may be transferable between spouses and civil partners. This means that if the bulk of one spouse’s estate passes, on their death, to the survivor, the proportion of the nil-rate band unused on the first death goes to increase the total nil-rate band on the second death.

Other exempt transfers include:

  • small gifts (not exceeding £250 per tax year, per person) to any number of individuals annual transfers not exceeding £3,000 (any unused amount may be carried forward to enhance the following year’s exemption)
  • certain gifts in consideration of marriage or civil partnership
  • normal expenditure out of income
  • gifts to charities


Lifetime gifts

A programme of lifetime gifts can also significantly reduce the IHT liability on your estate. As long as you survive the gift by seven years and no longer continue to benefit from the gift yourself, it will escape IHT. Gifts also have the advantage of allowing you to witness your family members benefitting during your lifetime.

A discount can also apply where lifetime gifts were made between three and seven years before death (note that the discount applies to the tax on the gift rather than the gift itself, so, as above, these ‘old’ gifts can significantly increase the final bill unless we have been able to cover them for you with an exemption or relief).


Trusts can be used to help maintain a degree of control over the assets being gifted, especially useful in the case of younger recipients. Life assurance policies can be written into trust in order that the proceeds will not form part of the estate on your death. Talk to us about using trusts to meet your planning needs.

Your Will

Your Will is your ultimate opportunity to get money matters right. You should review your Will at regular intervals to ensure that it reflects changes in your family and finances, is tax-efficient, and includes any specific legacies you would like to give, including tax-free donations to charity.



Company Taxation


More ways to extract profit

You may also want to consider alternative means of extracting profit, which might include the following:

  1. Capitalisation

For those expecting to liquidate their company in the next few years, profits might be left in the company to be eventually drawn as capital.

Current rules allow retained profits distributed on liquidation to be subject to capital gains tax, with a potential tax rate as low as 10% if Entrepreneurs’ Relief is available. However, caution is advised as high cash reserves held without a clear business purpose or substantial investments can potentially jeopardise Entrepreneurs’ Relief or IHT Business Property Relief.

  1. Incorporation

As the above points suggest, incorporation may give some scope for saving or deferring tax than operating as a self-employed person or partner.

Of course, incorporation may not suit all circumstances, and the ‘IR35’ rules specifically counter the use of ‘personal service companies’ to reduce tax, but we will be pleased to discuss how incorporation might apply to you and your business.

  1. Tax‑free allowances

Tax-free allowances, such as mileage payments, apply when you drive your own car or van on business journeys. The statutory rates are 45p per mile for the first 10,000 miles and 25p per mile above this. If you use your motorbike the rate is 24p per mile, and you can even claim 20p per mile for using your bicycle!

  1. Pensions

Employer pension contributions can be a tax-efficient means of extracting profit from a company, as long as the overall remuneration package remains commercially justifiable. The costs are usually deductible to the employer and free of tax and NICs for the employee.

  1. Property

Where property which is owned by you is used by the company for business purposes, such as an office building or car park, you are entitled to receive rent, which can be anything up to the market value, if you wish.

The rent is usually deductible for the employer. You must declare this on your Tax Return and pay income tax, but a range of costs connected with the property can be offset. On the other hand, receiving rent may mean a bigger capital gains tax bill if or when you decide to sell the property, so care needs to be taken to weigh up the pros and cons

  1. Changes to Dividend Tax 2016/17:
  • From April 2016, notional 10% tax credit on dividends will be abolished
  • A £5,000 tax free dividend allowance will be introduced
  • Dividends above this level will be taxed at 7.5% (basic rate), 32.5% (higher rate), and 38.1% (additional rate)
  • Dividends received by pensions and ISAs will be unaffected
  • Dividend income will be treated as the top band of income
  • Individuals who are basic rate tax payers who receive dividends of more than £5,001 will need to complete self-assessment returns from 6 April 2016.

The Impact on this change:

  • The proposed changes raise revenue despite the so-called “triple lock” on income tax. Perhaps aimed at tax small companies who pay a small salary designed to preserve entitlement to the State Pension, followed by a much larger dividend payment in order to reduce National Insurance costs. It appears that the government is anti-small companies, preferring workers to be self-employed
  • These changes will affect anyone in receipt of dividends: most taxpayers will be paying tax at an extra 7.5% p.a. Although the first £5,000 of any dividend is tax free, in 2016/17
  • Upper rate taxpayers will pay tax at 38.1% instead of an effective rate of 30.55% in 2015/16
  • Higher rate taxpayers will pay tax at 32.5% instead of an effective rate of 25% in 2015/16
  • Basic rate taxpayers will pay tax at 7.5% instead of 0% in 2015/16

This measure will have a very harsh effect on those who work with spouses in very small family companies. For example, a couple splitting income of £100,000 p.a. could be over £5,000 p.a. worse off.

How does this work? Here are some examples of the ‘before and after’:

1a.          2016/17 example: the dividend allowance is within your basic rate tax band

  • If you are a basic rate taxpayer, and you receive all your taxable income in dividends you will be up to £2,025 worse off
  • The basic rate tax threshold for 2016/17 is £43,000 (personal allowance of £11,000, plus basic rate tax band of £32,000)
  • If a dividend of £32,000 is received it is taxable as follows, breaking it down into the different “slices”:
  • The first £5,000 – covered by your dividend allowance
  • The next £27,000 (the remainder of your basic rate band) – taxed at the new 7.5% = £2,025 tax due

1b.          Old dividend rules: this shows what would have been payable under the old rules (if they were in place in 2016/17)

  • If your gross dividend is £32,000 (including tax credit)
  • The first £32,000 falls into the basic rate band – taxed at 10% = £3,200
  • You receive a tax credit = £(3,200)
  • Tax is paid of £nil

The above examples assume that the taxpayer has other income which takes up their personal allowance.


2a.          Higher rate taxpayer £50,000 of dividends

  • A higher rate taxpayer will pay tax at 32.5% on any dividend income in excess of the new £5,000 dividend allowance and basic rate threshold, and an upper rate taxpayer will be taxed at the new 38.1% rate
  • If you are a higher rate taxpayer, and you receive £50,000 of income in dividends in 2016/17 you will be worse off by £2,575
  • If a dividend of £50,000 is received it is taxable as follows, breaking it down into the different “slices”:
  • The first £5,000 – covered by your dividend allowance
  • The next £27,000 – taxed at the new 7.5% = £2,025
  • The next £18,000 – taxed at 32.5% = £5,850
  • Total tax due = £7,875


2b.          Re-working 2016/17 for a higher rate tax payer under the current rules

  • If a dividend of £50,000 is received that is grossed up to £55,555 taxable as follows, breaking it down into the different “slices”:
  • The first £32,000 – taxed at 10% = £3,200
  • The next £23,555 is taxed at 32.5% = £7,655
  • You receive a tax credit = £(5,555)
  • Tax is paid of £5,300

The above examples assume that the taxpayer has other income which takes up their personal allowance.



Declaration and Voting of Dividends

In many small, family Companies the Directors may determine that a dividend should be voted and paid to Shareholders during and before the end of the Company’s Accounting Period.  Very often, drawings have been taken effectively ‘on account’ of such dividends because small Companies do not have the facility to provide an extremely accurate estimate of likely Results for The Period from which dividends will be payable.

In the above situations, it could be argued that a dividend was paid in the year it was formally Minuted and Voted, as opposed to being applied to the Accounting Period in which the sums ‘on account’ were drawn. In past years, with a notional tax credit of 10% being available, the application to one tax year or the next very often did not make any material difference to the tax liability arising.

With the provisions in the March 2016 Budget, this is no longer the case.  A dividend effectively confirmed for a year end 31 March 2016 being determined ONLY if and when Financial Accounts were finalised and approved at, say 30 September 2016, could be challenged by HMRC with an argument that it is a dividend for 2016/17, not 2015/16.

Not only could the above result in a higher personal tax bill for the Shareholders, but the drawings made without cover of dividend in the 2015/16 Accounting Period might give rise to taxation under section 455 which penalises Directors/Shareholders who overdraw their Directors Current Accounts.

Therefore, we encourage all such Companies to liaise with us as soon as, if not before, the year-end approaches. We can assist in reviewing the financial information and discussing dividend options at the earliest opportunity. We will always try offer assistance to our clients where ever possible in any area of the accounting and tax process. Please just contact us and make an appointment to discuss your opportunities or concerns with us.





Annual Employment Allowances (AEA) changes for 2016/17

An annual employment allowance for businesses and charities to be offset against their employers Class 1 NICs was introduced in April 2014. The allowance can be claimed as part of the normal payroll process through RTI using our Payroll services.

From April 2016, the maximum amount available increases to £3,000 (2015-16: £2,000) per year. For example, if an employer’s Class 1 NICs are £1,200 each month, in April and May the employment allowance used will be for the full amount and in June the remaining £600 would be used.

There are a number of excluded employers who cannot claim the employment allowance. For example, persons employed for personal, household or domestic work, such as a nanny or au pair and employment that is either wholly or mainly of a public nature. No allowance is available for deemed payments of employment income under the IR35 regime.

From April 2016, the eligibility to claim the employment allowance has been removed from limited companies with a single director and no other employees. This measure has been put in place to ensure that companies with a single director and no employees do not benefit from an allowance designed to help small businesses take on additional staff.

Change to Employment Allowance from 6 April 2016

From 6 April 2016, limited companies where the director is the only employee paid earnings above the Secondary Threshold for Class 1 National Insurance contributions will no longer be able to claim Employment Allowance.

The Secondary Threshold is set at £156 a week for the 2016 to 2017 tax year.

A company is no longer eligible for the allowance if:

  • only one employee (or director) in the limited company is paid above the Secondary Threshold
  • that employee is a director of the limited company

This means that companies with several employees, where the director is the only employee paid above the Secondary Threshold, will no longer be eligible for the Employment Allowance.

This change only applies to limited companies. If you’re self-employed, you won’t be affected by this change.

Stopping your Employment Allowance claim

If you are affected by these changes and at the start of the tax year your company is no longer eligible to claim the Employment Allowance, you should stop your claim. Select ‘no’ in the ‘Employment Allowance indicator’ field within your payroll software, and submit an Employment Payment Summary (EPS) to HMRC.

You must ensure you pay the full amount of employer Class 1 National Insurance contributions (NICs), without deducting the Employment Allowance.

These changes will not affect any claims made in previous years.

The additional employee test

If your company circumstances change and more than one employee or director earns above the Secondary Threshold, you’ll be eligible for Employment Allowance for the whole tax year.

This includes companies where:

  • all employees are directors where both earn above the Secondary Threshold
  • the company employs husband and wife directors where both earn above the Secondary Threshold
  • the company employs seasonal workers where one or more is an employee earning above the Secondary Threshold in a week
  • where you’re the only UK based employee of an international company that meets the other eligibility criteria, and you earn above the Secondary Threshold in a week

The decisive factor is that the additional employee(s) must be paid above the Secondary Threshold (£156 in the tax year 2016 to 2017).

Directors must be paid above the annual Secondary Threshold (£8,112 for 2016 to 2017, or pro-rata if the directorship began after the start of the tax year).



Remember tax doesn’t

have to be taxing:


  1. Should it be the case you have a property which is rented out, we will require full details of rents received and expenses incurred, for which you have receipts. if you have an Agent collecting the rent for you, they usually provide this. Also, if you have a loan on that property we need a statement from the Mortgage Lender confirming the amount of interest paid on the loan during the 2015/16 tax year i.e. period ending 5th April 2016. If you sell an investment/rental property, please let us know so that we can advise the best course of action.
  2. Land and Property Rental income. Profits from land / property rental businesses are subject to income tax. Expenses incurred wholly and exclusively in connection with the rental business may generally be deducted unless they are capital in nature.


  • At the end of the tax year it is good practice to review your records to ensure you are able to evidence property expenditure for tax purposes.


  • Finance Bill 2016 intention is to repeal the Wear and Tear Allowance provisions and make new provision for a deduction for the replacement of furnishings. The deduction is available for capital expenditure on furniture, furnishings, appliances (including white goods) and kitchenware, where the expenditure is on a replacement item provided for use in the dwelling. The amount of the deduction is the cost of the new replacement item, limited to the cost of an equivalent item if it represents an improvement on the old item (beyond the reasonable modern equivalent) plus the incidental costs of disposing of the old item or acquiring the replacement less any amounts received on disposal of the old item.
  • The result is from 6th April 2016 (2016/17) the 10% wear & tear allowance is abolished. Where you own a furnished rental property, your expenditure on furnishings will be claiming tax relief on the actual costs of the renewals.


  • If you are thinking about purchasing a buy-to-let property, an additional 3% loading on all existing to Stamp Duty Land Tax (SDLT) rates will be payable on second properties and buy-to lets.



  • Remember – from April 2017, buy-to-let landlords of residential properties will begin to see the phased reduction of tax relief on their finance costs thus significantly increasing the income tax burdens of many. Some landlords may ultimately find it uneconomical to retain their portfolios, particularly in circumstances where portfolios are highly geared. From a tax perspective, there is no “one-size-fits-all” solution to this problem.  Selling part of the portfolio in order to pay down mortgage debt may be a difficult decision – but the most pragmatic step to take.  Exploring the possibility of purchasing new buy-to let properties through companies, and analysing the tax costs of transferring existing properties to companies could also be considered.
  1. If you have a Student Loan and you earn in excess of £15,000 per year, then you will need to make repayments to the Student Loan Company. So that we can complete your tax return correctly we need to know whether you have such a loan outstanding and the amount of any repayments made during the 2015/16 income tax year.
  2. Could you also confirm if you are in receipt of Child Benefit, and the amount per week you receive, as we now need to record this fact on your return? A number of clients have asked us about the advisability of continuing to claim Child Benefit, particularly if you are earning in excess of £50,000, but our advice would be to continue to claim the benefit anyway as, if you need to return any of the benefit, this will be taken into account when we complete your return.

High Income Child Benefit Charge (HICBC) If you, your spouse or civil partner, or common law partner received Child Benefit during 2015/16 and either of you had an income in excess of £50,000 then the higher earner may be liable to pay the HICBC.  Where that person’s income exceeds £60,000 then all of the Child Benefit received may be repayable through Self-Assessment.  Check whether you or your partner is liable to pay the HICBC and include it in the appropriate 2015/16 tax return.

  1. Marriage Tax Allowance – if your partner does not have sufficient income to be liable to pay tax AND you only pay tax at the basic (20%) rate then it is possible for your partner to transfer part of their allowance to you. Unfortunately, we cannot do this for you as your partner is the one who has to make the application, not the tax-payer. This can be done online at and you will need both your NI numbers and one of a range of different acceptable forms of ID for the non-taxpayer. If it is not possible to do this via the web, then they can ring the tax office on 0300 200 3300. Please bear in mind that this transfer can only be done between couples who are married or in civil partnership.
  2. If your spouse or civil partner pays tax at lower rates than you, consider whether any income can be transferred to them prior to the end of the tax year. For example, it may be possible to transfer a bank account, unconditionally, into your spouse’s name prior to the interest payment date if this falls before the end of the tax year. If you have children it may be possible to switch income from one spouse to another in this way so that the income of both spouses remains below the £50,000 threshold for the High Income Child Benefit Charge.
  3. The annual allowance on pension savings is currently £40,000 per annum. This is the annual limit on your pension savings without incurring an income tax charge. However due to changes introduced by the government in July 2015 to align pension savings with the tax year, it may be possible to contribute up to £80,000 in the 2015/16 tax year.
  4. The Tax Efficient investments. ISAs for 2015/16 the overall investment limit is £15,240. You may invest in any combination of cash or stocks and shares, provided that the amount invested does not exceed £15,240. There are several tax benefits attached to ISA’s:
  • Dividend and interest income is earned tax free.
  • Where investments are sold within a stocks and shares ISA any capital gains realised are tax free and do not use up your CGT annual exemption.
  • If your spouse or civil partner dies and you inherit their ISA, it will not lose its status and you may continue to enjoy the tax free benefits irrespective of its size.
  • From 6th April 2016 it will be possible to withdraw funds from your ISA and replace them at a later date without the replacement funds counting towards your ISA investment limit for the year, thus increasing the flexibility of ISAs as a savings vehicle.
  • It is possible to transfer your existing ISA from one provider to another without it losing its tax free status.
  • From 6 April 2017, the ISA limit goes up from £15,240 to £20,000.
  • The NEW Lifetime ISA will launch in April 2017 and is designed for first-time buyers and those saving for retirement. Anyone with a Help to Buy ISA will be able to roll it into this new Lifetime ISA.

How will it work?

An eligible adult can save up to £4,000 per tax year and receive a 25% state bonus.

This means that a person saving the full £4,000 in the first year will get an additional state bonus of £1,000.

How old can I be?

Anyone aged 18 to 40 can start a Lifetime ISA (from April 2017). You can pay into it until you’re 50.






March Budget 2016 Summary


Figures at a glance:

  • Corporation tax rate from 1 April 2016 @ 20%
  • 2016/17 personal allowance (PA) is £11,000
  • 2016/17 basic rate (BR) threshold is £32,000
  • 2016/17 higher rate (HR) threshold is £43,000

Key highlights:

  • Restricted relief for corporate interest expense from April 2017 coupled with a reduction in the rate of corporation tax to 17% from April 2020
  • Capital gains tax to be cut 28% to 20% from April 2016, with the exception of gains in respect of residential property and carried interest
  • Changes to the rates and bands applicable for stamp duty land tax on commercial property effective from midnight

Refocusing on capital gains tax (CGT):

One of the themes of the Budget has been to differentiate between gains realised on different categories of assets. Gains made as a result of investing in entrepreneurial business will suffer reduced rates of tax as compared to gains made from pure investment assets. For example, the government is extending entrepreneurs’ relief to outside investors in unlisted trading companies investing in newly issued shares purchased after 16 March 2016.  Provided the shares are held for at least 3 years from 6 April 2016, they will benefit from a 10% rate of tax with a separate lifetime limit of £10 million of gains.

There has been a reduction in the higher rate of capital gains tax (CGT) from 28% to 20%, with the basic rate falling from 18% to 10%, in relation to disposals made on or after 6 April 2016.

Types of property that do not qualify for the reduced CGT rates include residential property, Buy to Lets and ‘carried interest’. Such a move should help to encourage investment, and paradoxically it may also increase tax yields by making tax less of an issue in the context of selling investment assets.

Changes to Dividend Tax 2016/17: (see Company Taxation for the Impact this will have for all Shareholders taking Dividends from a company)

  • From April 2016, notional 10% tax credit on dividends will be abolished
  • A £5,000 tax free dividend allowance will be introduced
  • Dividends above this level will be taxed at 7.5% (basic rate), 32.5% (higher rate), and 38.1% (additional rate)
  • Dividends received by pensions and ISAs will be unaffected
  • Dividend income will be treated as the top band of income.
  • Individuals who are basic rate payers who receive dividends of more than £5,001 will need to complete self-assessment returns from 6 April 2016

Share and Enjoy

  • Facebook
  • Twitter
  • Delicious
  • LinkedIn
  • StumbleUpon
  • Add to favorites
  • Email
  • RSS