New company car fuel rates, the Data Protection and Digital Information Bill, 2024’s Sold to the World Awards plus UK government funding for jobs in AI sector
Take a look at today’s blog post from MLS Accountancy to keep up to date with the latest UK business news. Any questions? Get in touch, we’d love to hear from you.
Advisory fuel rate for company cars
The table below sets out the HMRC advisory fuel rates from 1 December 2023. 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.
| Engine Size | Petrol | Diesel | LPG |
| 1400cc or less | 14p (13p) | 10p | |
| 1600cc or less | 13p (12p) | ||
| 1401cc to 2000cc | 16p | 12p | |
| 1601 to 2000cc | 15p (14p) | ||
| Over 2000cc | 26p (25p) | 20p (19p) | 18p (19p) |
Where there has been a change, the previous rate is shown in brackets.
You can also continue to use the previous rates for up to 1 month from the date the new rates apply.
Note that for hybrid cars you must use the petrol or diesel rate. For fully electric vehicles the rate is 9p (10p) per mile.
Please contact us if you need help in applying the new rates.
Changes to data protection laws – The Data Protection and Digital Information Bill
A raft of changes to the Data Protection rules have been laid before Parliament in the Digital Information Bill which aims to build an innovative data protection regime in the UK.
The changes include new powers to require data from third parties, particularly banks and financial organisations, to help the UK government reduce fraud and save the taxpayer up to £600 million over the next five years. Currently, Department for Work and Pensions (DWP) can only undertake fraud checks on a claimant on an individual basis, where there is already a suspicion of fraud.
The new proposals would allow regular checks to be carried out on the bank accounts held by benefit claimants to spot increases in their savings which push them over the benefit eligibility threshold, or when people spend more time overseas than the benefit rules allow for. This will help to identify fraud and take action more quickly. To make sure that privacy concerns are at the heart of these new measures, only a minimum amount of data will be accessed and only in instances which show a potential risk of fraud and error.
Another measure offers vital reassurance and support to families as they grieve the loss of a child. In cases where a child has died through suicide, a proposed ‘data preservation process’ would require social media companies to keep any relevant personal data which could then be used in subsequent investigations or inquests.
Current rules mean that social media companies aren’t obliged to hold onto this data for longer than is needed, meaning that data which could prove vital to coroner investigations could be deleted as part of a platform’s routine maintenance. The change tabled before Parliament represents an important step for families coming to terms with the loss of a loved one and takes further steps to help ensure harmful content has no place online.
The use of biometric data, such as fingerprints, to strengthen national security is also covered by the amendments, with the ability of Counter Terrorism Police to hold onto the biometrics of individuals who pose a potential threat, and which are supplied by organisations such as Interpol, being bolstered.
This would see officers being able to retain biometric data for as long as an INTERPOL notice is in force, matching this process up with INTERPOL’s own retention rules. The amendments will also ensure that where an individual has a foreign conviction, their biometrics will be able to be retained indefinitely in the same way as is already possible for individuals with UK convictions – this is particularly important where foreign nationals may have existing convictions for serious offences, including terrorist offences.
See: Changes to data protection laws to unlock post-Brexit opportunity – GOV.UK (www.gov.uk)
Made in the UK, Sold to the World Awards 2024
The annual Made in the UK, Sold to the World awards recognises and celebrates the global trading success of SMEs from across the UK.
The Department for Business and Trade’s (DBT’s) 2024 Made in the UK, Sold to the World awards are now open for entries.
There are ten categories of awards to enter:
- Agriculture, Food & Drink;
- Consultancy & Professional Services;
- Creative Industries;
- Education & EdTech;
- Financial Services & FinTech;
- Healthcare;
- Infrastructure & Engineering;
- Low Carbon Energy;
- Manufacturing, Advanced Manufacturing & Construction; and
- Retail & Consumer Goods.
There will be one winner from each category and up to three highly commended businesses.
Winners will receive a 2024 winner’s trophy, certificate, and digital badge, as well as a year’s free business membership to the Institute of Export and International Trade (IoEIT). Your business will also receive tailored promotion across Department for Business and Trade channels.
Highly commended businesses will receive a certificate, digital badge and a year’s free business membership to the Institute of Export and International Trade.
If you have a story to tell about how your business is successfully selling its products or services to the world, DBT want to hear from you. Entries for the 2024 awards will close Sunday 14 January 2024.
See: Awards now open for entries – great.gov.uk
UK government funding for jobs in AI sector
Up to £17 million in government funding will create more scholarships for AI and data science conversion courses, helping young people from groups underrepresented in the tech industry including women, black people, people with disabilities, and people from disadvantaged socioeconomic backgrounds join the UK’s world-leading Artificial Intelligence (AI) industry.
The government is encouraging companies to play their part in creating a future pipeline of AI talent by co-funding the AI scholarships for the conversion courses. Industry support for these scholarships will help get more people into the AI and data science job market quicker and strengthen UK businesses.
Together, government and industry funding will create two thousand scholarships for masters AI and data science conversion courses, each worth £10,000. The programme is enabling graduates to do further study courses in the field even if their undergraduate course is not directly related, creating a new generation of experts in data science and AI.
Courses are open to anyone who meets a participating university’s entry requirements. Details of how to apply are available on the universities’ websites. Eligible applicants can apply for a scholarship through their university. Please visit the Office for Student’s website for more information.
The UK is ranked third in the world for private venture capital investment into AI companies (2019 investment into the UK reached almost £2.5 billion) and is home to a third of Europe’s total AI companies.
The new scholarships will ensure more people can build careers in AI, create, and develop new and bigger businesses, and will improve the diversity of this growing and innovative sector.
See: £17 million to boost skills and diversity in AI jobs – GOV.UK (www.gov.uk)