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Autumn Budget 2025
On 26 November Chancellor Rachel Reeves will deliver her second Budget, continuing her mission to reshape the UK’s economic landscape under the Labour government.
This budget faces several critical challenges, including speculations surrounding fiscal deficit, weak economic growth, and the need to boost productivity without breaching Labour’s tax pledges.
We are pleased to invite you to our live online briefing seminar, where our tax experts will unpack the budget announcements, explore their implications for businesses and individuals, and offer practical insights into adapting your tax planning strategies. | Details for our seminar:
Date: Thursday 27 November 2025
Timings: 9:30am - 11:00am
Venue: Online Seminar (we will send out the joining instructions the day before) | | VAT Advisory Fuel Rates for electric vehicles
HMRC has introduced, effective from 1 September 2025, a new VAT Advisory fuel rate for public charging of electric vehicles. The rate is set at 14 pence per mile, with the VAT element being 1/6th of this amount, equating to 2.33 pence per mile.
VAT recovery is only possible for businesses (excluding sole proprietors) for public electric charging. Charging at the employer’s premises is classified as public charging. No VAT recovery is possible when an employee charges the car at home, as HMRC determines that the supply of electricity is made to the employee, not the business.
For Advisory Fuel purposes, a hybrid vehicle is treated as either a petrol or diesel vehicle. The normal VAT recovery rules for employee mileage claims apply to electric charging. Therefore, a receipt for public charging dated within the period of the employee's expenses claim, along with details of the mileage on the expenses claim, is required.
If you wish to discuss this in further detail, please get in touch with one of our Indirect Tax Services experts by clicking below. | | | |
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Covid repayment window opens | |
The government has launched a voluntary repayment scheme to allow recipients of financial Covid support to repay outstanding money they were not entitled to or did not need with ‘no questions asked’.
The government says that over £10 billion was lost to pandemic fraud, flawed contracts and waste under the previous government’s pandemic era procurement and schemes. £1.54 billion has already been recovered through existing efforts.
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Advisory fuel rates for company cars | |
New company car advisory fuel rates have been published and took effect from 1 September 2025.
The guidance states: ‘you can use the previous rates for up to one month from the date the new rates apply’. The rates only apply to employees using a company car.
The advisory fuel rates for journeys undertaken on or after 1 September 2025 can be read in more detail by clicking below. | | | |
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Maximise your business potential - Complete our strategic business health check now! | |
The UK government has announced important tax and business reforms that make proactive financial planning more vital than ever for business owners. To help you stay compliant and identify opportunities, we’ve designed a short questionnaire that addresses key planning areas such as: - Business Property Relief (BPR)
- Salary sacrifice arrangements
- Employee share schemes
- And more...
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Once completed, you’ll receive a tailored PDF summary highlighting areas for potential tax efficiency and strategic planning based on your responses. Don’t miss out on tailored advice for staying compliant and maximising tax reliefs - ensure your business is ready to adapt, thrive and grow, take the questionnaire by clicking below. | |
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James Cowper Kreston is a leading firm of accountants and business advisers with offices across the South of England. We deliver focused, innovative advice to a diverse range of businesses and individuals helping our clients to maximise their potential.
If you have any questions about the topics covered in this newsletter or want to explore how we can help you please contact us here:
Email: info@jamescowperkreston.co.uk
Call: 01635 35255
James Cowper Kreston
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The information in this newsletter must not be relied on as giving sufficient advice in any specific case.
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