HMRC has published the latest Advisory Fuel Rates (AFRs) which apply from 1 June 2025. AFRs are the official rates used when reimbursing employees for business mileage in company cars. They’re reviewed every quarter (February, May, August and November) and adjusted in line with fuel prices.
An audit may be a legal requirement for your business but a well managed audit can also boost your business growth and ensure that it is operating in the best way possible.
Are you looking for clarity over the future direction of your business? Do you want to know the actions you should take in order to grow your business? Then consider taking time to create a budget for your business.
SME owners and managers – are you part of the one in five small and medium-size enterprise managers that work on average an additional 3 hours a day on a regular basis? Or one of the 33% that claim that there just aren’t enough minutes in a day to get everything completed? (The Independent study 2023)
Self employed and want to buy a house? It is possible to get a mortgage when you’re self-employed and most lenders are quite supportive and should offer the same rates as someone in a permanent full time job. However, as you do not have an employer to confirm your income, you will need evidence that you have a stable income and you may be offered more expensive rates by some lenders. Here’s an overview of what you need to know.
The growing threat of cyberattacks remains for all UK businesses. It could result in Cyber Vandalism – such as the publication of a fake terror attack at UK stations thanks to an admin error that impacted National Rail, fake voices and images – known as a deepfake attack – scammed the British design firm Arup out of $25m (£19m) or a ransomware attack on payroll data at the Ministry of Defence. Incidentally, as well as data, ransomware gangs stole more than $1bn last year, according to US blockchain analysis firm Chainalysis.
From 2024 onwards, Companies House has introduced important changes as part of the Economic Crime and Corporate Transparency Act. One of the biggest changes is the requirement for certain individuals to verify their identity to obtain a VIN number. This key step is to improve corporate transparency and tackle economic crime in the UK.
We’re thrilled to announce that the HB Accountants Work Experience Programme has officially launched giving local students the opportunity to rotate through five different businesses over their week experiencing the workplace.
Sponsoring a university student in Zambia via the charity African Impact Foundation, has been an eye-opening experience for the HB team. Gertrude is studying for her Bachelor of Business Administration in Accounting and Finance at Chalimbana University in Zambia. She took time away from her studies to join a conference call with us and the charity team to tell us more about her studies and her life.
The registration system used by Companies House is changing in 2025 due to the Economic Crime and Corporate Transparency Act. The changes are designed to prevent fraud and ensure that businesses are more transparent. If you are a director of a UK company, a person with significant control (PSC) or a member of a LLP, this will impact you. This is what you need to know.
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HB Accountants is the trading name of HBAS Limited, a company registered in England with registration number 5085258. The registered office of HBAS Limited is Plumpton House, Plumpton Road, Hoddesdon, Hertfordshire EN11 0LB, England. Registered for VAT number 866062806.