Advisory fuel rates update

New advisory fuel rates are in play for employees' usage of company cars, following the latest quarterly update. As of 1 December 2019, the following advisory fuel rates are in place for petrol and LPG-fuelled company cars. Engine size Petrol (per mile) LPG (per mile)...

Landlords ‘prefer operating as limited companies’

Buy-to-let landlords prefer to purchase residential properties through a limited company, regardless of the size of their portfolio. Foundation Home Loans (FHL) claimed that 62% of landlords with up to ten properties bought homes via a limited company in the three...

Delay to loan charge review leaves thousands in limbo

A report into the controversial loan charge may not be published until after a deadline for settlements with HMRC has passed. Up to 50,000 people whose employers had paid them through loans from offshore trusts dating back to 1999 were warned earlier this year they...

Committee demands business rates reform

The Treasury Committee believes the current business rates system in England and Wales is "broken" and in "urgent need of reform". Business rates are a tax on property used for business purposes, and calculated based on a property's estimated value on the open market....

HMRC allays contractors’ concerns

Contractors or freelancers who see their employment status change under off-payroll (IR35) rules next year will not face an automatic tax probe. From April 2020, IR35 rules that currently apply to public-sector contractors will be extended to the private sector....