HMRC opened 4,940 formal inheritance tax (IHT) enquiries in the last financial year - an 18% increase year-on-year. Read More...
Summer attractions see VAT reduced to 5%
As part of the government's "Great British Summer Savings" package, aimed at helping families during rising costs linked to the Iran war, Rachel Reeves announced a VAT cut to 5% on tickets (for adults and children) for theme parks, zoos and museums. Read More...
Increase in Mileage Allowance
The Approved Mileage Allowance Payment (AMAP) for employees using their own car for work (not commuting) has risen from 45p to 55p per mile for the first 10,000 miles per tax year. After 10,000 miles, the rate remains 25p per mile. Read More...
Reminder: check if you are eligible for the Employment Allowance
The Employment Allowance allows companies and charities to reduce their annual National Insurance (NI) liability. Read More...
July Questions and Answers
Q: I can no longer claim tax relief on my expenses when working from home. Is there anything I can do (I'm a basic rate taxpayer)? Read More...
July Key Dates
1st: Corporation Tax payments are due for companies with a year-end of 30th September. Read More...
