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Company vehicles can be a valuable benefit, but they come with significant tax implications that employers and employees need to understand. In 2025, the tax treatment of company cars, vans, pickups, and fuel is largely based on CO₂ emissions, usage, and vehicle type. Low-emission cars, especially electric and plug-in hybrids, attract lower benefit-in-kind (BIK) charges, while diesel and high-emission vehicles are taxed heavily, up to 37% of the car's list price. Vans are generally more tax-efficient, but HMRC has tightened the definition, especially around crew-cab and dual-purpose vehicles. Fuel for private use also carries a hefty tax charge unless fully reimbursed. Staying informed on these rules is crucial for making cost-effective choices around business vehicles in the current tax landscape.
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The routine services you would expect us to provide are listed below but it’s the important ongoing professional advice that really helps our clients.
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In an unexpected decision, the official rate of interest (ORI) applicable to advantageous loan agreements such as director’s loans will remain at 2.25% for a consecutive second year. The HMRC has announced that there will be no increase in the ORI for outstanding director’s loans during the 2024/25 tax year, maintaining the rate at 2.25% despite the base interest rate being 5.25%.
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Let's discuss the impact of the triple lock pension guarantee on the state pension, which has increased to £11,502.40. With the allowance freeze until 2028, an estimated 1.6 million retirees may face tax liabilities. The following tips should give you a clear idea how to grow your pension in the tax efficient way.
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Taxpayers have less than a week to take advantage of their tax-free allowances before the conclusion of this fiscal year. Understanding these allowances and making informed choices can minimize your tax liability and significantly impact your financial well-being!
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As you know, keeping accurate records not only complies with regulations but also prepares businesses for a smooth experience during HMRC inspections. But is it clear when a VAT invoice should be issued and how to handle cash payments in relation to VAT invoicing? Today we’ll help you understand the importance of VAT invoices and how to manage them effectively, ensuring you’re always prepared for VAT recovery and compliance.
We are experienced certified accountants in Kent that are committed to helping small businesses achieve growth.
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