by MAS | Jun 3, 2025 | Accounts, Business advice, Financial news, HMRC, Self employed, Tax
Advisory fuel rates for company cars are updated by HMRC on a quarterly basis due to fluctuations in fuel prices. The rates determine the amount that can be paid to an employee using a company car for business mileage, or where an employee has to reimburse their...
by MAS | Apr 16, 2025 | Business advice, Corporation Tax, Financial news, HMRC, NIC, PAYE, Self Assessment, Tax
PENALTIES The new tax year saw a change to the way interest on late paid taxes is calculated. What’s changed and what are the new charges? Prior to 2025/26, interest was charged at the Bank of England base rate plus 2.5% on most underpaid taxes. In a push for unpaid...
by MAS | Mar 14, 2025 | Accounts, Financial news, HMRC, Self employed, Tax
HMRC’s official rate of interest (ORI) will increase from 2.25% to 3.75% on 6 April 2025. This is the first increase since 2023.The ORI is used to calculate the taxable benefit in kind where an employee has a loan from their employer, or their employer provides them...
by MAS | Feb 27, 2025 | Accounts, CIS, Corporation Tax, Financial news, HMRC, NIC, PAYE
1 March New Advisory Fuel Rates (AFR) for company car users apply from today. 2 March 5% late payment penalty on any 2022/23 outstanding tax which was due on 31 January 2024 and still remains unpaid. 19 March PAYE, Student loan and CIS deductions are due for the month...
by MAS | Feb 26, 2025 | Financial news, HMRC, Self Assessment, Self employed, Tax
Advisory fuel rates for company cars are updated by HMRC on a quarterly basis due to fluctuations in fuel prices. The rates determine the amount that can be paid to an employee using a company car for business mileage, or where an employee has to reimburse their...
by MAS | Feb 19, 2025 | Financial news, HMRC, NIC
Not having a complete national insurance record can mean that you do not get the full state pension — you need 35 years of national insurance contributions for the maximum of £221.20 a week (£11,502 a year), and ten years of contributions to get anything at all....
