HLAS

The table below sets out the HMRC advisory fuel rates from 1 September 2025. These are the suggested reimbursement rates for employees' private mileage using their company car. Where the employer does not pay for any fuel for the company car, these are the amounts that can be reimbursed in respect of business journeys without the amount being taxable on the employee. Previous rates are shown in brackets. You can also continue to use the previous rates for up to 1 month from the date the new rates apply. Note that for hybrid cars, you must use the petrol or [...]

In a recent First Tier Tribunal case, Charlotte MacDonald v HMRC, a taxpayer was denied sideways loss relief for losses that she had incurred when organising an annual 'woodland shoot' on an estate because the activities were not carried on with a view to the realisation of profits. A taxpayer can offset trading losses against their general income in the year of the loss, the previous year, or both. In order to do this, the loss must have arisen from a trade that was carried on: on a commercial basis, and with a view to the realisation of profits of [...]

Form VAT652 (Error Correction) was withdrawn on 8 September 2025. The form was used to notify HMRC of VAT return errors that could not be corrected on the next VAT return. The procedure for correcting VAT return errors is now as follows: If you have discovered an error in a VAT return, the first step is to check whether the error can be amended in the VAT return for the period in which the error was discovered. Errors can be amended in the next VAT return if: The net errors, i.e. output VAT less input VAT errors, are less than [...]

While there is no formal legal definition, the term ‘Umbrella Companies’ generally refers to employment intermediaries that hire temporary workers who, in turn, undertake assignments for various recruitment agencies and/or end clients (the ultimate recipients of the services). Umbrella companies typically enter into contracts with recruitment agencies, which then arrange suitable work opportunities. Employment Intermediaries Rules The ‘employment intermediaries’ rules apply to both staff and employment agencies: Agency workers are ordinarily subject to PAYE and National Insurance Contributions (NICs) on their earnings. The employment status rules were amended in 2014: any worker provided via an agency who is subject to, [...]

The Chancellor will deliver Autumn Budget 2025 on 26 November 2025. The content of the Autumn Budget is anticipated to address significant fiscal challenges, including potential tax rises to address the public finance deficit. Before turning to Autumn Budget 2025, we must note that some of the ramifications of Autumn Budget 2024 are still to come. These include: Capital Gains Tax (CGT) - in addition to the tax hikes that have already taken effect on 30 October 2024 and 6 April 2025, the rate of CGT where Business Asset Disposal Relief (BADR) applies is set to further increase from 14% to 18% [...]

The increasing prevalence of cyber-attacks has also led the Information Commissioner’s Office (ICO) to remind businesses to review their security measures and protect any personal information they hold. According to government figures, UK businesses experienced an estimated 7.7 million cyber-crimes over the past year. Most small businesses store personal information and rely on digital systems. Ian Hulme, Executive Director for Regulatory Supervision at the ICO, said: “When people share their personal information with your company, they need to feel confident you’ll do as much as possible to keep that information secure. While cyber-attacks can be very sophisticated, we find that [...]

The Intellectual Property Office (IPO) is preparing to launch its new One IPO patents service in early 2026. The system will replace several existing services and change how businesses apply for and manage patents. The IPO will confirm the launch date 6-8 weeks in advance. Updates will be shared on GOV.UK and via IPO social media channels. The new service will require an IPO account. Larger patent holders are being contacted directly to help with setup. Smaller patent holders will be able to create an account via the IPO website when the service goes live. To find out more, check [...]

The Chancellor of the Exchequer, Rachel Reeves, recently hosted US Treasury Secretary Scott Bessent at Downing Street for a joint industry roundtable. The meeting highlighted the strong connections between London and New York as leading global financial centres and announced the creation of a new Transatlantic Taskforce for Markets of the Future. Purpose of the Taskforce The taskforce will provide recommendations to both governments on how the UK and US can collaborate more closely in key areas, including: Digital assets – exploring short-term opportunities while regulation continues to develop, as well as long-term potential for innovation in wholesale digital markets. [...]

Cyber incidents continue to feature in the news headlines, with airports now joining large UK retailers and manufacturers in experiencing serious disruption to supply chains and services. While small businesses are unlikely to grab the same headlines, the risks are just as real. For many, a serious cyber-attack could stop their business from trading altogether. That is why it is important not only to think about preventing attacks, but also how your business would recover if the worst happened. Start with the basics The National Cyber Security Centre (NCSC) encourages all businesses to adopt the Cyber Essentials programme. This focuses [...]

A businessman has been banned from acting as a company director for eight years after it was discovered that he continued to serve as a director between July 2013 and July 2015, despite being bankrupt since 2005. In addition to the disqualification, he was sentenced to 22 months in prison in October 2024 for contempt of court in an unrelated case concerning company transfers made in breach of a freezing order. The Insolvency Service’s perspective The Insolvency Service emphasised that bankruptcy automatically prevents someone from being a company director. They highlight that the ban exists to protect creditors and the [...]