Month: November 2020

HMRC has announced the latest changes to the advisory fuel rates for company cars. What are they and when can you apply them from? The rate you can pay employees for business mileage in their own vehicles is relatively well-known - 45p per mile for the first 10,000 miles and 25p per mile thereafter. However, … Continue reading HMRC New advisory fuel rates from 1 December

Businesses that took up HMRC’s offer to defer some or all of their VAT liability due for payment between 20 March and 30 June 2020 are to be given more time to pay. Originally, the terms of the offer required the deferred VAT to be paid in full by no later than 31 March 2021.  … Continue reading HMRC launches new VAT deferral scheme

The office Christmas party is off the cards this year, but many firms are being innovative and holding virtual parties instead. Why does a recent announcement from HMRC give reason to be merry?   Function exemption.  HMRC permits an exemption of up to £150 per head for the cost of staff events every tax year. … Continue reading HMRC gives green light to tax-free virtual parties