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...
Muras Matters: Form P11D Deadline and Mandatory Payrolling of Benefits In Kind
Background Employers will generally already be aware of the current requirement to report to HM Revenue & Customs (HMRC) the benefits and expenses provided to employees and directors each tax year on forms P11D and P11D(b) unless a business has chosen to voluntarily adopt the payrolling of benefits in kind (‘BIK’). The deadline for submitting these forms for the 2025/26 tax...
Muras Matters: Increase In Corporation Tax Late Filing Penalties
Background The filing deadline for a company to submit a corporation tax return to HM Revenue & Customs (HMRC) for an accounting period is 12 months after the end of that accounting period, which is usually the same as its financial period end. Penalties apply where a return is submitted late. For corporation tax returns that have a filing date of 1...
Muras Matters: Employment Related Securities – Annual Reporting
Background Where an individual acquires or receives a security in a company, either in the form of shares or other type of security, by virtue of their employment then it falls under the legislation of Employment Related Securities (“ERS”). Companies have a requirement to report to HM Revenue & Customs (HMRC) in respect of almost all share and securities acquisitions in any circumstances by a director, company...
Muras Matters: Increase in Tax on Dividends and Directors’ Loans
Background As part of the Budget in November 2025, the Chancellor, Rachel Reeves, announced that both the basic rate and higher rate of tax on dividends would increase by 2%. That increase has now taken effect from 6 April 2026, the start of the new tax year for 2026/27, and owner-managed businesses in particular may need to factor this tax increase...
Muras Matters: Year End Tax Tips
Background As the tax year is nearing its end most pre year-end planning will have been completed or should be well under way. However, there may still be some measures which can be undertaken to improve your tax position before the end of the tax year. Here are our top five tips to consider: Top Five Tips Make full use of your personal income...
Muras Matters: Tax on Residential Property Owned by a Company
This Bulletin is aimed at limited companies who own, develop or let residential property Annual Tax on Enveloped Dwellings (ATED) The ATED charge is a tax on residential property which is owned through a corporate vehicle. It was introduced in 2013 primarily to prevent non-resident investors from avoiding Stamp Duty by owning their UK residence through a company. The legislation is drafted...
Muras Matters: Tax Code Changes
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...