Tax news

Advisory fuel rates for company cars
Advisory fuel rates for company cars

HMRC has published new advisory fuel rates for company car users which take effect from 1 June 2024. The rates have increased by 1p per mile for most petrol and diesel cars. Petrol cars with an engine size over 2000c have seen a larger increase of 2p per mile. The LPG...

Inheritance tax planning guide
Inheritance tax planning guide

Inheritance tax planning How can I reduce any inheritance tax liabilities? Planning ahead allows individuals and couples to employ strategies for reducing the value of their taxable estate, helping them stay under the inheritance tax threshold.   Annual gift allowance...

Avoid the £10 Daily Penalty for Self-Assessment
Avoid the £10 Daily Penalty for Self-Assessment

£10 daily penalty for Self-Assessment starts on 1st May Starting from 1st May 2024, individuals who have yet to submit their overdue Self-Assessment tax return for the 2022-23 tax year will incur additional late filing penalties of £10 per day (capped at a total of...

Succession Planning for Farms
Succession Planning for Farms

Have you thought about succession and the long-term plans for your family farm? As agriculture makes up the highest concentration of family businesses passed through the generations, it is no surprise that succession is a key issue and is something farmers need to...