HMRC allows a certain amount of daily subsistence for tax relief if working away from your usual place of work. If you are travelling up to 5 hours then it is £5 per day, if up to 10 hours then £10 and if over then £25 per day. Remember to add these to your tax return expenses for maximum tax relief.
The latest news from PMC Partnership incorporating Pomfreys Accountants – 30th August 2024
Following on from the Bank of Englands base rate cut of interest rates to 5% from 20th August HMRC have cut their late payment interest rate to 7.5% from 7.75%