Following the new Chancellor John Healy's first Budget, we take a look at a few of the more initially significant announcements. The Chancellor presented the budget as a means to providing families and businesses with breathing space from rising costs and for big structural changes needed for the future. Reduction in Business Asset Disposal Relief Limit Business asset disposal relief (BADR) reduces...
Muras Matters: Cake Shed Bakers And The Tax Bite
Background With the cost of living and changes to tax thresholds taking a bite out of pay packets, more people are turning to a side hustle to help make extra cash. However, it should be remembered that such entrepreneurs will need to check if their earnings exceed £1,000 a year. With the prevalence of social media, a new money-making trend seems to...
Muras Matters: Muras Baker Jones’ Tax Team Expanding
Exciting news from the Muras Baker Jones tax team! We have always prided ourselves on our tax expertise — from winning 'Best Single Office Tax Practice' at the prestigious Tolley’s Taxation Awards to being named a finalist again in 2023. Since then, our footprint in the region has grown through the acquisition of two local firms, bringing fantastic new talent into...
Muras Matters: Deadlines This Week For Opting Out Of The Winter Fuel Payment
Background Last year the government reinstated winter fuel payments for all pensioners in England and Wales with an income of £35,000 or less per annum. For winter 2026/27, eligible pensioners will be due to receive the winter fuel payment from November 2026. The tax-free payments will automatically be made to all pensioners and so those pensioners whose annual income exceeds £35,000 will have...
Muras Matters: Company Cars Changes to Advisory Fuel Rates
This Bulletin is aimed at company car drivers (and their employers) who are not provided with fuel for private mileage HM Revenue and Customs (HMRC) have updated their advisory fuel rates for company cars with effect from 1 September 2026. The rates are intended to give guidance to employers about what is an acceptable fuel allowance to reimburse employees for use of...
Muras Matters: Making Tax Digital
Background Making Tax Digital for Income Tax (MTD ITSA) was first scheduled for implementation in April 2018 but has been discussed and delayed several times since then. Despite the delays, taxpayers have now experienced their first quarter of digital reporting which began in April 2026. Keeping digital records is only a part of the obligation that relevant taxpayers now have. Once the...
Muras Matters: Budget 2026 Date Announced
On Friday, just eleven days after taking over from Rachel Reeves as the new Chancellor of the Exchequer, John Healey, announced via a video message posted to Instagram, that the date of the next Budget will be on Wednesday 28 October 2026. In his video message, the Chancellor said ‘This government is working fast to restore hope and back Britain’s communities’. In just...
Muras Matters: Full Rollout of Mandatory Payrolling For Benefits In Kind Delayed
Background Only last month in Muras Matters we reported that the mandatory payrolling of benefits in kind (‘BIK’) would start from 6 April 2027 for those business who had not already voluntarily adopted to payroll benefits, after a number of delays to the original start date. However, HM Revenue & Customs have now announced a further change, and there is now set...
Muras Matters: Increase In Approved Mileage Rates
Background Individuals who use their own vehicles for business travel have historically been able to claim 45p per business mile for the first 10,000 business miles with no tax or national insurance contribution (NIC) implications. This mileage rate has been frozen for 15 years, but as part of the governments measures intended to address rising fuel prices, the Chancellor, Rachel Reeves,...
Muras Matters: Company Cars Changes to Advisory Fuel Rates
This Bulletin is aimed at company car drivers (and their employers) who are not provided with fuel for private mileage HM Revenue and Customs (HMRC) have updated their advisory fuel rates for company cars with effect from 1 June 2026. The rates are intended to give guidance to employers about what is an acceptable fuel allowance to reimburse employees for use of...