Telephone 0800 0811 567
HMG Forecasted Tax Take 2013/14
Mileage payments for business travel
Employee vehicles: mileage payments for business travel
| Type of vehicle | Rate per business mile 2013-14 |
|---|---|
| Car | For tax purposes: 45p for the first 10,000 business miles in a tax year, then 25p for each subsequent mile
For NICs purposes: 45p for all business miles |
| Motorcycle | 24p for both tax and NICs purposes and for all business miles |
| Cycle | 20p for both tax and NICs purposes and for all business miles |
Company cars: advisory fuel rates
The rates below apply from 1 March 2013.
| Engine size |
Petrol | LPG |
|---|---|---|
| 1400cc or smaller |
15p | 10p |
| 1401cc to 2000cc |
18p | 12p |
| Bigger than 2000cc |
26p | 18p |
| Engine size |
Diesel |
|---|---|
| 1600cc or smaller |
13p |
| 1601cc to 2000cc |
15p |
| Bigger than 2000cc |
18p |
Expenses that are not tax deductible
HMRC have declined tax deduction for Jade Goody's...
- expenses from her wedding to Jack Tweed a month before her death and
- donations to cancer and anti-bullying groups, around £48,000, because it was donated at charity auctions.
Do call us on 0800 0811 567 or email me if you would like help with your taxes or for a no obligation chat
Use your annual CGT tax free allowance
You and your spouse can make a gain of £10,600 each year free of tax. If you hold shares with gains attached, it may be worth selling some of these in a timely manner each year to regularly utilise these tax free allowances. The CGT allowance does not carry forward, so if you don't use them your lose them.
Do call us on 0800 0811 567 or email me if you would like help with your taxes or for a no obligation chat.
HMRC are watching
HMRC’s use of technology to provide information on tax payers is getting very efficient and has won awards. HMRC use the data collected to check for under declared income/tax. It is suspected that HMRC might be using social media such as Twitter, Facebook and other cloud based information to build profiles on the public. I found the following article interesting...click here.
Do call us on 0800 0811 567 or email me if you would like help with your taxes or for a no obligation chat.
Help with tax, costs, cash-flow, profitability ?
Contact WAGNER Associates in either Glasgow or Edinburgh to find out how our services can improve your business performance.
Contact