Vehicle Expenses for Sole Traders

Vehicle Expenses for Sole Traders

While running your business, you may drive to client meetings, carry tools, transport stock or collect supplies. Because of this, vehicle expenses can take up a large part of your business budget. The good news is that you can claim many of these costs and lower your...
Advisory Fuel Rates for Company Cars

Advisory Fuel Rates for Company Cars

To simplify fuel reimbursement, HMRC publishes Advisory Fuel Rates (AFRs). These rates provide a clear and consistent way to calculate fuel-only mileage costs. With this in mind, AFRs only apply to employees who drive a company car. What are Advisory Fuel Rates? HMRC...
What is a Fuel Card?

What is a Fuel Card?

A fuel card lets you purchase fuel exclusively at designated petrol stations. It works much like a credit or debit card, but businesses use it specifically for managing fuel expenses. The business pays for all transactions directly, so drivers do not need to pay...
Company Cars and Vans

Company Cars and Vans

Company Cars and Vans The government detailed important updates in the recent Autumn Budget on taxing company cars and vans, with a particular focus on electric vehicles and low-emission options. Whether you’re considering a new company car or an electric...
P11D Deadline Looming: Expenses and Benefits

P11D Deadline Looming: Expenses and Benefits

Expenses and benefits: P11D deadline looming To stay on the right side of HMRC’s expenses and benefits legislation, P11Ds need to be filed by 6th July. Here we take a look at the P11D form; what’s included, what’s exempt and what the penalties are for filing late...
Taxation of company cars in 2021/22

Taxation of company cars in 2021/22

Taxation of company cars What is taxation of company cars? If you are an employee with a company car, you will be taxed on the benefit derived from the car being available for your private use. If you are an employer who makes company cars available to your employees,...