Company Cars Archives

Jun 13 2026

Approved Mileage Allowance

By admin Company Cars, HMRC, Potts & Co Accountancy & Business Advice News

Employees and business owners could be entitled to an additional £1,000 per year in tax relief for business journeys undertaken in personal vehicles. If you use your own vehicle for business travel you may be entitled to tax relief to help with the cost of owning and running your vehicle.…

Sep 30 2025

Advisory Fuel Rates

By admin Company Cars, Expenses, HMRC, National Insurance, Potts & Co Accountancy & Business Advice News

If you reimburse fuel or charging costs for employees using a company car for business travel there will be no taxable profit and no Class 1A national insurance, provided the mileage amount paid does not exceed the advisory rates From 1 September 2025 the advisory rates per mile for non-electric…

Nov 08 2024

Another Handbrake Turn On Double Cab Pick-Ups

By admin Budget Update, Company Cars, HMRC, National Insurance, Potts & Co Accountancy & Business Advice News

Reversing the previous Government's u-turn on the tax treatment of double cab pick-ups, they will revert to being treated as cars for certain taxation purposes from April 2025 If you purchase a double cab pick-up with a payload of one tonne or more before 1 April 2025 for corporation tax,…

Nov 07 2024

Bad News For Hybrid Vehicles

By admin Budget Update, Company Cars, Electric Cars, HMRC, Potts & Co Accountancy & Business Advice News

Showing renewed commitment to promoting electric vehicles over petrol, diesel and hybrid models, the Government has extended the 100% first year allowance for zero-emission cars Businesses and individuals can continue to deduct the full cost of zero-emission vehicles and electric vehicle charge-points from their taxable profits until 31 March 2026…

Mar 31 2024

Advisory Fuel Rates

By admin Company Cars, Electric Cars, Expenses, HMRC, Potts & Co Accountancy & Business Advice News

HMRC has updated the recommended reimbursement rates for employees reclaiming business travel in company vehicles. If you pay for the fuel in your company car your employer can reimburse you for the cost of business journeys in that car at the following mileage rates tax free from 1 March 2024:…

Dec 04 2023

Charging Your Electric Company Car At Home

By admin Company Cars, Electric Cars, HMRC, Potts & Co Accountancy & Business Advice News

HMRC has updated its Employment Income Manual to bring the guidance on charging electric company cars at home in line with the legislation. Until now, the guidance in the Employment Income Manual (EIM23900) has contradicted the legislation in advising that if an employer reimburses an employee for charging their company…

Jun 03 2023

Excess Mileage Payments

By admin Company Cars, Electric Cars, HMRC, Potts & Co Accountancy & Business Advice News

Petrol and diesel pump prices are high but the tax-free mileage rates payable to employees who use their own vehicles for business have not been adjusted for over a decade. Many employees cannot afford to use their own car or motorbike for business journeys if they only get reimbursed at…

Jun 15 2022

Trivial Benefits For Directors

By admin Company Cars, Directors, HMRC, Potts & Co Accountancy & Business Advice News, Travel Expenses

It is important to keep your personal money and your company's money completely separate. If you use your company's bank card to buy personal items or to pay your own bills, that expenditure is treated as a loan to you. The loan creates a corporation tax charge if it is…

Jun 14 2022

Car Or Van Questions

By admin Company Cars, Electric Cars, HMRC, P11D, Potts & Co Accountancy & Business Advice News, Travel Expenses

When completing the annual expenses and benefits return (P11D) you need to know what company-provided vehicles each employee and director used in the tax year. A problem can arise when deciding whether small commercial vehicles should be treated as vans or as cars. The difference can have a significant impact…

Jun 13 2022

Reporting Employee Expenses

By admin Company Cars, Expenses, HMRC, Income Tax, P11D, Potts & Co Accountancy & Business Advice News

It is time to report the expenses and benefits provided to employees during the year to 5 April 2022. This reporting process is known as the P11D after the number of the relevant HMRC form although these days the report is normally a function within payroll software. HMRC has been…

Company Cars

Approved Mileage Allowance

Advisory Fuel Rates

Another Handbrake Turn On Double Cab Pick-Ups

Bad News For Hybrid Vehicles

Advisory Fuel Rates

Charging Your Electric Company Car At Home

Excess Mileage Payments

Trivial Benefits For Directors

Car Or Van Questions

Reporting Employee Expenses

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