Background From April 2026, employment expenses and gift aid will be removed from the tax codes of some taxpayers where HM Revenue & Customs (HMRC) data shows that they are unlikely to be accurate or relevant. Individual’s impacted by this are likely to be in the process of receiving a new tax code from HMRC for the 2026/27 tax year if...
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 March 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 for Income Tax Self-Assessment – Final Reminder
Background Following several postponements by the government, Making Tax Digital (MTD) for Income Tax Self-Assessment (ITSA) will commence for landlords and sole traders with qualifying income over £50,000 from April 2026. More individuals will gradually be brought into MTD ITSA as the income level requirement will reduce to those with income over £30,000 from April 2027 and to £20,000 from April 2028. Detail MTD ITSA...
Muras Matters: Changes to Inheritance Tax Reliefs Threshold
Background The Government, just before Christmas, announced a major U-turn on the change to the threshold for Inheritance Tax (IHT) Business Property Relief (BPR) and Agricultural Property Relief (APR) previously announced in the Autumn 2024 Budget and set out in our Muras Matters of 4 August 2025 ‘Government Confirms Changes to Inheritance Tax Reliefs’. The change has been widely welcomed following...
Muras Matters: 31 January Self Assessment Deadline
Background A reminder that the Self Assessment Tax Return deadline for the year ended 5 April 2025 is fast approaching. In fact HM Revenue & Customs (HMRC) have recently issued a prompt regarding the deadline since it falls on a Saturday this year. HMRC have advised that taxpayers should submit their returns on or before Friday 30 January 2026 since both the Self Assessment helpline...
Muras Matters: Merry Christmas!
Muras Matters: Income Tax Rate Increases
Background In the budget delivered on 26 November 2025, Rachel Reeves announced income tax rate rises for both dividends and property and savings income, coming into effect from April 2026 and April 2027 respectively. These rises, coupled with the freezing of thresholds and allowances, means that more taxpayers will be facing higher income tax bills on their passive income. Detail Dividends From 6 April...
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 December 2025. The rates are intended to give guidance to employers about what is an acceptable fuel allowance to reimburse employees for use of...
Muras Matters: Christmas Hustlers And The Tax Trap
Background With Christmas markets springing up across the country, HM Revenue & Customs (HMRC) is reminding anyone selling handmade gifts and trinkets of the need to check if their earnings exceed £1,000 a year. Individuals making sales of £1,000 or more in a year will need to consider whether they are required to file a self assessment tax return with HMRC. There...
Muras Matters: Important To Check Simple Assessments
Background Simple Assessment is a way for HM Revenue & Customs (HMRC) to collect underpayments of tax from taxpayers with relatively straightforward tax affairs. By HMRC issuing a Simple Assessment to a taxpayer it means they are not required to complete a Self Assessment tax return. The types of income that are commonly dealt with under Simple Assessment include the state pension and...