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Explore insightful articles, tips, and industry updates from RMT. Stay informed on the latest trends, innovations, and best practices in accounting and business services.

New Mileage Rates From September 2021

Mileage rates for petrol and diesel cars have increased from 1 September 2021, employers have been reminded. The new rates only apply to employees using a company car, rather than their own vehicle. If you need to reimburse staff for business travel, here’s what you need to know. What are mileage rates? Mileage rates –

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Brexit And Immigration: The Key Dates You Need to Know About

Despite ‘officially’ leaving the European Union in January this year, there are still a number of loose ends that need tying up. In fact, the Brexit deal itself includes transitional rules that span from 2021 to 2028. While many of these rules relate to trade and customs, immigration is a matter yet to be fully

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Personal Tax: Thousands of Parents “Missing Out” on Tax-Free Childcare

HM Revenue & Customs (HMRC) has reminded parents that they may be eligible for Tax-Free Childcare ahead of the new academic year. The tax authority said thousands of families may be missing out on thousands of pounds in tax relief every year. If you are a working parent, here’s what you need to know. What

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Tax-Relief Schemes May Help Start-Ups Raise Outside Investment – ICAEW

Tax-relief schemes may help start-ups and established businesses attract outside investment when traditional investment is not viable, a major regulator has said. The Institute of Chartered Accountants in England and Wales (ICAEW) said initiatives, such as the seed enterprise investment scheme (SEIS) and the enterprise investment scheme (EIS), may help even the smallest of firms

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Are You Entitled to The Marriage Allowance?

Millions of married couples and those in civil partnerships could be entitled to up to £252 in income tax relief, HM Revenue & Customs (HMRC) has revealed. The latest statistics suggest that nearly 1.8 million couples are currently claiming the Marriage Allowance. But following a change in circumstances, millions more couples may be eligible to

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Beware of Exceeding Your Pension Pot Allowance

Thousands of people who put money into their pension each year are inadvertently failing to declare pension tax charges, according to HM Revenue & Customs (HMRC). This can lead to an unexpected and costly tax bill. Your annual allowance is the maximum you can save in your pension pots in a tax year (6 April

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HMRC Helpsheet to Support Residential Property Sellers With New CGT Rules

New guidance will help homeowners understand the implications of capital gains tax (CGT) when selling UK residential property, it has been revealed. HM Revenue & Customs (HMRC) said the new helpsheet – which can be downloaded here – will support taxpayers in complying with new reporting obligations. The guidance comes after major changes to the

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Fraud Now Costs UK Businesses and Individuals “£137 Billion a Year”, Research Reveals

Fraud now costs UK businesses and individuals more than £137 billion a year, a major study has revealed. Published by the University of Portsmouth Centre for Counter Fraud Studies, the data suggests that the Covid-19 outbreak has highlighted significant holes in companies’ cybercrime defences. According to the study, the cost of fraud has increased by

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New Plans to Support Hospitality Industry in Wake of Coronavirus Pandemic

New plans will help pubs, bars, restaurants, and hotels bounce back from the coronavirus pandemic, it has been revealed. The report comes after the Government unveiled The Hospitality Strategy on Friday, 16 July. With a focus on “reopening, recovery and resilience”, the plans will introduce a variety of measures designed to help hospitality businesses recover

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