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Government announces changes to IHT reforms
The introduction of a £1m cap on 100% business and agricultural property relief in April 2026 has been criticised particularly heavily by the farming industry. The government has announced a significant amendment to the measure. The 2024 Autumn Budget announced the...
Static company car advisory fuel rates
Advisory fuel rates (AFRs) 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...
Latest advisory fuel rates published
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...
Permanent increase to penalty interest rates
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...
HMRC’s rate of interest set to increase
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...
Tax dates for March
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...
Latest advisory fuel rates for company cars
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...
Two months to boost your state pension
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....
Late payment interest rates changed again
PENALTY INTEREST On 6 February 2025 the Bank of England base rate was cut to 4.5% from 4.75%. As HMRC’s late payment and repayment interest rates are linked to the base rate, they will also come down. From 17 February 2025 the following rates will apply: Late...
Essential tax dates for February
2 February Deadline for submitting P46(Car) for employees whose car/fuel benefits changed during the quarter to 5 January 2025. 19 February PAYE, Student loan and CIS deductions are due for the month to 5 February 2025.
Tax dates for January
1 January Due date for payment of corporation tax for period ended 31 March 2024. 14 January Due date for income tax for the CT61 quarter to 31 December 2024. 19 January PAYE, Student loan and CIS deductions are due for the month to 5 January 2025. PAYE quarterly...
Essential Tax Dates for December
1 December New Advisory Fuel Rates (AFR) for company car users apply from today. 19 December PAYE, Student loan and CIS deductions are due for the month to 5 December 2024. 30 December Online filing deadline for submitting 2023/24 self assessment return if you require...
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Middleton Accountancy Services
211 Manchester New Road
Alkrington
Middleton
Manchester
M24 1JT
