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HM Revenue and Customs (HMRC) have issued a reminder to be careful about scam attempts that target people filing Self Assessment tax returns. In the last year, nearly 150,000 scam attempts were referred to HMRC, a 16.7% increase on last year. With the 31 January 2025 filing deadline approaching, fraudsters are likely to step up […]
Read more December 10th, 2024
The table below sets out the HMRC advisory fuel rates from 1 December 2024. These are the suggested reimbursement rates for employees’ private mileage using their company car. Where the employer does not pay for any fuel for the company car these are the amounts that can be reimbursed in respect of business journeys without […]
Read more December 9th, 2024
We previously reported on the HMRC website having a function to check your State Pension Entitlement. HMRC have now developed an app that can help people prepare for their retirement. Individuals can use the app to check their State Pension Forecast, allowing them to: The app can also be used to check National Insurance contribution (NIC) […]
Read more December 6th, 2024
Some employers need to pay their employees earlier than usual in December. This can be for several reasons, such as businesses closing during the festive period and needing to pay workers earlier than normal. As in earlier years, HMRC have announced that they have relaxed the RTI (Real Time Information) reporting obligations. If you do […]
Read more December 5th, 2024
The announcement in the Autumn Budget about restrictions to inheritance tax (IHT) agricultural and business property relief from April 2026 has upset farming businesses in particular, resulting in a demonstration in London on 19th November. From 6 April 2026, it is proposed that 100% relief will only apply to the first £1 million of combined […]
Read more December 4th, 2024
There continues to be no taxable benefit for employees provided that all staff are invited to the Christmas Party, and the cost to the employer does not exceed £150 a head, inclusive of VAT. If you have already had a summer event, provided the combined cost of the two events is no more than £150 […]
Read more December 3rd, 2024