| Business mileage allowances changesThe maximun tax free mileage allowances for employees using their own transport for business journeys are as follows: | |||||||||
| 2010-2011 Tax Year | |||||||||
| REIMBURSEMENT RATES, PER MILE | |||||||||
| 1st 10,000 | Over 10,000 | ||||||||
| Miles | Miles | ||||||||
| Car/van | 40p | 25p | |||||||
| Motorcycle | 24p | 24p | |||||||
| Bicycle | 20p | 20p | |||||||
| 2011-2012 Tax year | |||||||||
| REIMBURSEMENT RATES, PER MILE | |||||||||
| 1st 10,000 | Over 10,000 | ||||||||
| Miles | Miles | ||||||||
| Car/van | 45p | 25p | |||||||
| Motorcycle | 24p | 24p | |||||||
| Bicycle | 20p | 20p | |||||||
Monthly Archives: March 2011
The Plumbers Tax Safe Plan
The Plumbers Tax Safe Plan is the latest initiative from HM Revenue and Customs to plug the hole in the black economy.
It is intended to cover people who work (or worked) in the plumbing, heating or gas installation trades and this includes anyone who installs and repairs pipes and fixtures for water, drainage or gas systems in a building.
As with the other ‘tax amnisties’ offered by HMRC coming forward and registering that you have undeclared income means you are offered a penalty rate which is significatly lower that the penalty you would be offered through a more traditional tax enquiry.
HMRC are intending to track down tradesmen who should have come forward using data from the Corgi and Gas Safe registers and from internet research.
If you want to take advantage of the plan you will need to register with HMRC by 31 May 2011 and we will be happy you guide you through the full process.
More information can be found on the HMRC’s website
