Advisory fuel rates for company cars

New company car advisory fuel rates have been published and took effect from 1 March 2023. 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… Read more…

How Does Inheritance Tax Work?

Maligned by some and celebrated by others, Inheritance Tax affects the estates of those who have passed away. This includes any assets, such as property, possessions and money, with the tax bill falling at the feet of those who have inherited these assets. Obviously, this can be a source of anxiety for some, who don’t… Read more…

Government launches consultation on R&D relief

The government has launched a consultation on simplifying the UK’s research and development (R&D) tax relief system, driving innovation and growing the economy. The consultation runs to 13 March 2023 and sets out proposals on how a single scheme could be designed and implemented. This would replace the two R&D tax relief schemes currently in… Read more…

UK business confidence plummets to 13 year low

The UK’s business confidence has dropped to a 13-year low, according to a survey conducted by the Institute of Chartered Accountants in England and Wales (ICAEW). The ICAEW’s latest Business Confidence Monitor (BCM) showed that record high inflation and rising costs, including energy and the cost-of-living crisis, have adversely affected business confidence. The latest monitor… Read more…

BCC warns SME exporters ‘under tightening pressure’

The British Chambers of Commerce (BCC) has warned that small and medium-sized enterprises (SMEs) that export are facing ‘tightening pressure’ as a result of decreasing export sales. The BCC’s quarterly Trade Confidence Outlook report, which polled more than 2,300 SMEs, showed that 27% of exporters recorded decreased export sales during the fourth quarter of 2022.… Read more…