Taxation

21-07-2010

Updated mileage rates apply to all journeys on or after 1 June 2010. Click on title for the new rates and for more information. For more detailed information go to:

http://www.hmrc.gov.uk/cars/advisory_fuel_current.htm


23-12-2009

These rates apply to all journeys on or after 1 December 2009. After discussions with trade bodies, the month's notice previously given has been withdrawn for this change.

 

 

http://www.mercia-group.co.uk/news/images/tableDec09.jpg 

Employers are not obliged to reimburse their employees for business fuel at these rates as long as they do not exceed them overall. Employers making or collecting payments at the superseded rate because they have not been able to change their systems in time may use their judgement on whether to make or require a second payment in respect of the same period in order to apply the new rate from its effective date.

However, employers should note that under the normal rules, employees are only able to avoid the car fuel benefit charge if the amount they repay in respect of private fuel at least equals the amounts based on the rates as published.

 

 


10-06-2009

For all VAT accounting periods commencing on or after 1st Juy 2009 there are new fuel scale rates applicable.  RATES HAVE FALLEN.

Click on title for details......


23-03-2009

From 6 April 2008 the HMRC approved allowance for employees working from home increased from £2 to £3 per week.


26-07-2007

The House of Lords has found in favour of Geoff Jones in the landmark tax case Jones v. Garnett (also knows as ?Arctic Systems?). The law lords rejected HM Revenue and Customs? appeal to tax Geoff Jones on dividends paid to his wife, Diana. The judgment marks the dramatic end of a tax case that has gripped accountants and small business owners for the last four years and dominated all recent SME tax planning. No further appeals are possible under UK law.