Tax E-News – October 2025
Welcome to the October 2025 edition of Tax E-News. We hope that you find this informative. Please contact us if you wish to discuss any matters in more detail.
October 2025
BUDGET 2025 DATE – 26 NOVEMBER
The Chancellor will deliver Autumn Budget 2025 on 26 November 2025. The content of the Autumn Budget is anticipated to address significant fiscal challenges, […]
These include:
• Capital Gains Tax (CGT) […]
• Inheritance Tax (IHT) […]
SPOTLIGHT ON UMBRELLA COMPANIES
While there is no legal definition, ‘Umbrella Companies’ is a term used to describe Employment Intermediaries that employ temporary workers who go on to work for different agencies and/or end clients (ultimate recipient of the services). […]
This Spotlight highlights signs that agency workers and contractors should be aware of and that may indicate that the umbrella company they are engaged with is operating a tax avoidance scheme. […]
VAT ERROR CORRECTION
Form VAT652 (Error Correction) was withdrawn on 8 September 2025. The form was used to notify HMRC of VAT return errors that could not be corrected on the next VAT return. The procedure for correcting VAT return errors is now as follows: […]
If you have discovered an error in a VAT return, the first step is to check whether the error can be amended in the VAT return for the period in which the error was discovered. Errors can be amended in the next VAT return if: […]
SIDEWAYS LOSS RELIEF DISALLOWED
A taxpayer can offset trading losses against their general income in the year of the loss, the previous year, or both. In order to do this, the loss must have arisen from a trade that was carried on:
• on a commercial basis, and
• with a view to the realisation of profits of the trade.
HMRC argued that the shoot was not commercial in nature and that there had been no view to a realisation of profits. […]
ADVISORY FUEL RATES FOR COMPANY CARS
The table below sets out the HMRC advisory fuel rates from 1 September 2025. These are the suggested reimbursement rates for employees’ private mileage using their company car.
Where the employer does not pay for any fuel for the company car, these are the amounts that can be reimbursed in respect of business journeys without the amount being taxable on the employee. […]
DIARY OF MAIN TAX EVENTS
OCTOBER / NOVEMBER 2025
| Date | What's Due |
|---|---|
| 1 October | Corporation Tax for year to 31/12/2024, unless quarterly instalments apply |
| 5 October | Deadline for notifying HMRC of chargeability, if not already within Self-Assessment, for 2024/25 |
| 19 October | PAYE & NIC deductions, and CIS return and tax, for month to 05/10/2025 (due 22/10 if you pay electronically) |
| 1 November | Corporation Tax for year to 31/01/2025, unless quarterly instalments apply |
| 19 November | PAYE & NIC deductions, and CIS return and tax, for month to 05/11/2025 (due 22/11 if you pay electronically) |