HMRC has announced its first increase to the Approved Mileage Allowance Payment (AMAP) rate in 15 years.
New HMRC mileage rates (2026/27)
Cars & vans: First 10,000 miles 55p every mile thereafter 25p
Motorcycles: First 10,000 miles 24p every mile thereafter 24p
Bicycles: First 10,000 miles 20p every mile thereafter 20p
Remember travelling to and from your usual place of work/business does not count.
The change is being backdated to 6 April 2026 meaning if you've already been reimbursed at 45p per mile for business travel since the start of the 2026/27 tax year, employers may need to review claims and potentially make additional payments to reflect the new 55p rate. The government has said it will legislate retrospectively so the higher rate applies from the start of the tax year.
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16/04/2026
UK Tax Rates & Thresholds 2026/27 Quick Guide
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Income Tax
Personal Allowance - £12,570 (0%)
20% - £12,571 to £50,270
40% - £50,271 to £125,140
45% - £125,140+
National Insurance (Employees)
0% - up to £12,570
8% - £12,571 to £50,270
2% - £50,270+
Dividend Tax
Allowance: £500
10.75% (basic rate)
35.75% (higher rate)
39.35% (additional rate)
Corporation Tax
19% - profits up to £50,000
25% - profits over £250,000
Capital Gains Tax (CGT)
Allowance: £3,000
18% / 24% - property gains
10% / 20% - other assets
💡 Smart Moves
✔️ Max out ISA (£20,000 allowance)
✔️ Use pension contributions to reduce tax
✔️ Split income/dividends where possible
Plan smart. Stay efficient. Build wealth
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