Jolly Accountancy Services Limited

24/06/2026

VAT 15-day grace window

Under HMRC's new VAT late payment rules, there's no penalty if you pay within 15 days of the due date.
After that, charges kick in at 2% and grow from there.

https://jollyaccountancyservices.co.uk/2026/06/01/hmrc-penalties-interest-may-2026/

23/06/2026

Even if you have not made a on your self employment, you still need to declare the income and expenses on your annual

22/06/2026

Corporation Tax reminder

Limited company directors: your Corporation Tax return is due 12 months after your accounting period ends but your payment is due 9 months and 1 day after.
Two different deadlines. Both matter. Don't mix them up.

https://jollyaccountancyservices.co.uk/2026/06/01/hmrc-penalties-interest-may-2026/

19/06/2026

18/06/2026

Is there any tax relief if I use my own car for work?

Employees who do not receive full mileage allowances may claim relief on their tax return.

The relief is given on the difference between the AMAP and the amount paid by their employer.

17/06/2026

Inaccuracy Penalties

A careless mistake on a tax return can cost you up to 30% of the tax owed in penalties.
A deliberate error? Up to 100%.
The good news: voluntary disclosure to HMRC before they find it themselves can significantly reduce or even eliminate the charge.

https://jollyaccountancyservices.co.uk/2026/06/01/hmrc-penalties-interest-may-2026/

16/06/2026

Your tax code indicates how much tax HMRC will deduct from your salary. Check it each year, or after changing jobs, to make sure it's correct. If you're on the wrong code, you may be entitled to pay less tax in coming months, or receive a refund for previous years. HMRC do make mistakes.

15/06/2026

Late payment interest

HMRC's late payment interest rate is currently 7.75% per annum.
That's on top of any filing or payment penalties and it starts accruing from the day your payment was due.

https://jollyaccountancyservices.co.uk/2026/06/01/hmrc-penalties-interest-may-2026/

11/06/2026

If I share a company car, how much will I be taxed?

You are only taxed on the proportion of the year you use the car

Tax due on fuel can also be worked out proportionately if you give up the ‘free’ fuel and so long as the fuel is not reinstated later.