Advisory fuel rates for company cars

Advisory fuel rates for company cars 2016

New company car advisory fuel rates have been published which took effect from 1 June 2016. The guidance states: ‘You can use the previous rates for up to one month from the date the new rates apply’. The rates only apply to employees using a company car. The advisory fuel rates for journeys undertaken on or…

Pensions Freedom update

According to HMRC figures over 230,000 people have used the new pension freedoms introduced one year ago and accessed over £4.3 million in pensions saving. In April  2015, the government introduced significant pension reforms giving people the ability to access their pensions savings how and when they want. The statistics show that in the first…

New Savings allowance

A new savings allowance is available to basic and higher rate taxpayers for 2016/17. The amount available depends on the individual’s circumstances: If any of the individual’s income for the year is additional rate income then the individual’s savings allowance for the year will be nil. If any of the individual’s income for the year…

Parking fines ruled not deductible

A tribunal has ruled that security firm G4S cannot reduce its profits for tax purposes by deducting parking fines. The company, G4S Cash Solutions, tried to reduce their corporation tax bill by approximately £580,000 but the first-tier tribunal has ruled in HMRC’s favour in rejecting the claim for the deduction of the fines. The company…

voom

#VOOM 2016 is back!

If you have a business idea that you really want taking off the ground, now’s your chance! VOOM 2016 is a platform whereby you get the chance to pitch your idea to Richard Branson and the chance to win £1m in prizes as well as a trip to Necker Island and mentoring at 10 Downing…