HM Revenue and Customs (HMRC) has updated the Advisory Fuel Rates (AFRs) which come into effect on 1 December 2020, for company car drivers requiring fuel costs from their employer. However, you can use the previous AFRs for up to ...
READ MOREWorking parents who fall under the income threshold to claim Tax-Free Childcare as a result of Covid-19 will be allowed to continue receiving relief, it has been announced. According to HM Revenue & Customs (HMRC), eligible working parents who receive support ...
READ MOREFrom 1 October 2020, individuals who complete Self-Assessment tax returns will now be able to divide their tax bill into monthly instalments, without speaking to an HM Revenue and Customs (HMRC) adviser first. On 24 September 2020, the Chancellor announced that ...
READ MOREFrom this week, Self Assessment customers affected by Covid-19 can apply online to spread the cost of their tax bill into affordable monthly payments. The amount of tax liabilities which can be spread out has also been increased from £10,000 to ...
READ MOREHM Revenue & Customs (HMRC) has confirmed that Making Tax Digital (MTD) will be extended to all VAT-registered businesses from April 2022. The change forms part of the Government’s digital tax drive, which will eventually see all kinds of tax reported ...
READ MOREThe Chancellor, Rishi Sunak, is considering the introduction of a new sales tax for the online retail sector in a bid to help the struggling high street compete with the e-commerce sector. The Treasury published a call for evidence last week, ...
READ MORESelf-employed taxpayers due to make a payment on account can automatically defer the payment until 31 January 2021, it has been confirmed. The second Self Assessment payment on account for the tax year 2019/20 is usually due at the end of ...
READ MOREThe “tax gap” – the difference between what should be paid and what is actually paid – has fallen to its lowest recorded rate, new figures have revealed. HM Revenue & Customs (HMRC) said the record is a collaborative result of ...
READ MOREThe Chancellor, Rishi Sunak, is set to announce the introduction of a Stamp Duty holiday in his summer statement on Wednesday 8 July 2020. Several financial measures are expected to be announced in the summer statement as the Government looks to ...
READ MOREDue to the coronavirus pandemic, many people in the UK are now working from home or have been placed on furlough leave, meaning that they are not using their employer-provided company car. But what is the impact on the benefit ...
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