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These are the suggested reimbursement rates for employees' private mileage using their company car from 1 March 2022. Where there has been a change the previous rate is shown in brackets. Engine Size Petrol Diesel LPG 1400cc or less 13p 8p (9p) 1600cc or less 11p 1401cc to 2000cc 15p 10p 1601 to 2000cc 13p Over 2000cc 22p 16p 15p Note that for hybrid cars...
For individuals and businesses wanting to donate money to help to support those suffering in Ukraine, there are a number of charities providing humanitarian relief. Ideally this should be done via the Disasters Emergency Committee (DEC) Appeal at www.dec.org.uk/. Individual UK taxpayers should make sure to tick...
Despite lobbying to delay the upcoming 1.25% increase in NICs payable by employees, employers and the self-employed, the government has decided to go ahead as planned from April 2022, to provide additional funds for health and social care. Some new measures have however been announced...
The R&D tax relief schemes for companies will be enhanced from April 2023 but we have to wait until this summer for more details. We do know the reform is set to boost sectors where the UK is a world-leader, including artificial intelligence, robotics, manufacturing, and...
No extension has been granted to the leisure and hospitality sector for use of the reduced 12.5% VAT rate on eligible supplies including food, non-alcoholic beverages and hotel and holiday accommodation. The VAT rate applied to these supplies will revert to 20% from 1 April 2022...
Green technology, including solar panels and heat pumps, will be exempt from business rates in England from April 2022, a year earlier than originally planned. VAT on Energy Saving Materials (ESMs) installed in residential accommodation will be reduced from 5% to 0% from this April in...
The Household Support Fund will be doubled to £1billion from April 2022. The Fund will help households with the cost of essentials such as food, clothing and utilities....
Fuel duty has been cut by 5p per litre for 12 months from 6pm on 23 March 2022. The Treasury report that this will save the average car driver £100 a year and the average van driver £200 a year....
In preparation for the 130% ‘super-deduction’ for companies coming to an end on 31 March 2023, other alternatives are being considered in an attempt to continue encouraging investment from April 2023. In the meantime, remember to talk to us about the reliefs potentially available (to companies...
The Chancellor has committed to reduce the basic rate of income tax from 20% to 19%, but not until 6 April 2024. Note that the Scottish Parliament and Welsh Assembly have devolved powers to set their own income tax rates on earned income. It is estimated that this...