From April 2025, Agricultural Property Relief from Inheritance Tax now extends to land under qualifying environmental agreements. This means landowners entering long-term stewardship schemes will not lose IHT relief. From April 2026, a new £1 million limit will apply to combined APR and BPR claims-making timely planning more important than ever.Agricultural Property Relief (APR) is…
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Repay private fuel provided for company cars
Employees using company fuel for private journeys can sidestep a hefty benefit charge by repaying the full private fuel cost to their employer by 6 July 2025. Miss the deadline, and tax becomes unavoidable.This repayment process is known as "making good," and requires the employee to repay the employer for private fuel no later than…
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Employers, don’t forget to pay Class 1A NIC
Employers must pay Class 1A NICs for 2024-25 benefits by 19 July (post) or 22 July (electronic). These apply to perks like company cars and private health cover-late payment risks penalties from HMRC.Class 1A NICs are payable by employers on the value of most taxable benefits offered to employees and directors, including company cars and…
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Tax Diary June/July 2025
1 June 2025 - Due date for corporation tax due for the year ended 31 August 2024.19 June 2025 - PAYE and NIC deductions due for month ended 5 June 2025. (If you pay your tax electronically the due date is 22 June 2025).19 June 2025 - Filing deadline for the CIS300 monthly return for…
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