Did you know your business could save over £20,000 annually with green investments? The UK government is offering substantial green tax reliefs in October 2025 for businesses moving towards sustainability. But it’s not enough to simply buy an electric vehicle or replace office lighting. You need to know how to properly claim these tax reliefs, or you’ll be leaving money on the table.

What You’ll Learn From This Article:

• What green tax reliefs exist in the UK for 2025-2026
• Electric vehicle and fleet tax benefits in detail (with latest changes)
• Energy-efficient investment support for offices
• ESG compliance and hidden tax benefits
• Step-by-step guide to claiming
• Common mistakes to avoid
• Exact calculations: how much you can actually save

Quick Answer: The biggest green tax reliefs in the UK for 2025-2026 are the 100% first-year allowance (FYA) for electric vehicles (extended until March 2026), the £1 million Annual Investment Allowance (AIA) for green assets, and deductible energy-efficient investments. An average small business can save between £10,000-£18,000 annually through these programmes.

What Are Green Tax Reliefs and Why Claim Them Now?

Let’s be honest – many still think “green” is just a marketing slogan, and tax reliefs are too complicated to bother with. Wrong.

I remember when one of our clients, James (a construction contractor from Winchester), came into our office saying “electric vans are too expensive”. After we calculated the real costs including tax reliefs, it turned out he’d save £16,000 over 5 years compared to a petrol alternative. He now runs three electric vehicles.

What Counts as a Green Investment in 2025-2026?

Green tax relief categories recognised by HMRC:

Vehicles and Fleets:

• Electric cars and light commercial vehicles (0g/km CO2)
• Low-emission hybrid vehicles (<50g/km)
• Electric bikes and e-scooters
• Charging station installation

Buildings and Energy Efficiency:

• LED lighting systems
• Smart heating and cooling (heat pumps)
• Solar panels and collectors
• Insulation improvements
• Smart energy management systems

Technology and Equipment:

• Energy-efficient servers
• Environmentally-friendly manufacturing equipment
• Water treatment facilities
• Waste reduction technologies

Insider tip: The government has extended the 100% first-year allowance for electric vehicles until March 2026. That’s an extra 6 months for planning!

Electric Vehicles: The Biggest Tax Saving for 2025-2026

If there’s one area where electric vehicle tax relief pays off immediately, this is it. And no, you don’t need to buy a Tesla.

100% First-Year Allowance – What Is It Really?

Simply put: if you buy a fully electric vehicle for business use between October 2025 and March 2026, you can write off 100% of the purchase price against your taxable profits in the first year.

IMPORTANT DEADLINE: The 100% FYA is valid until 31 March 2026 for Corporation Tax, and 5 April 2026 for Income Tax.

Let’s work through a concrete example:

You purchase a Nissan Leaf for £28,000 in November 2025:

• 100% first-year allowance = £28,000 deduction
• If your Corporation Tax rate is 25% = £7,000 immediate tax saving
• Plus: 3% Benefit in Kind (BIK) tax in 2025/26 (petrol: 20-37%)
• Minus: From April 2025, you’ll pay VED (£10 first year, £195 annually thereafter)

Benefit in Kind (BIK) – The Employee Advantage for 2025/26

This is the point where most business owners get excited.

2025/26 BIK rates (UPDATED):

• Full electric: 3% (was 2% in 2024/25!)
• 2026/27: 4%
• 2027/28: 5%
• 2028/29: 7%
• 2029/30: 9% (maximum)
• Hybrid (<50g/km, >130 mile electric range): 5%
• Hybrid (<50g/km, 70-129 miles): 8%

Comparison with petrol vehicle:

A colleague told me about one of his clients (an 8-person IT company owner) who used this calculation to convince his team to choose electric company cars. £8,600 saving annually in total.

NEW FROM 2025: VED (Road Tax) for Electric Vehicles!

CRITICAL CHANGE: From 1 April 2025, electric vehicles are NOT exempt from road tax!

New VED rates for electric vehicles (from 1 April 2025):

• First year (first registration): £10
• From second year onwards: £195/year
• If the vehicle’s new price exceeded £40,000: +£425/year (years 2-6) = £620/year total

Example calculation:

• BMW iX (£65,000 P11D value)
• First year: £10
• Years 2-6: £620/year (£195 + £425 expensive car supplement)
• From year 7: £195/year
• 5-year total VED cost: £3,110

For comparison, a petrol BMW X5’s first year VED: £2,745, then also £620/year. So electric is still cheaper overall.

Is There Relief for Charging Infrastructure in 2025-2026?

Yes! And this is the part many people miss.

If you install charging points:

• Home wallbox: 100% first-year allowance or AIA
• Office chargers: 100% deduction through AIA
• Installation costs: fully deductible
• Workplace Charging Scheme: £350/socket grant (max 40 sockets)

What if you’re a tenant? Even if you’re not the owner, you can claim the deduction with the landlord’s consent for installation costs.

Key Takeaways – Electric Vehicles:

• 100% FYA until 31 March 2026 (CT) / 5 April 2026 (IT)
• 3% BIK rate in 2025/26 (petrol: 20-37%)
• NEW: VED £10 first year, £195/year thereafter (£40k+ vehicles +£425/year in years 2-6)
• Charging infrastructure also 100% deductible
• London Congestion Charge: FREE until 25 December 2025, then 25% discount

Energy-Efficient Investment Support: Making Your Office Green

This is where most UK small businesses miss out. Yet energy-efficient offices aren’t just good for the planet – they’re brilliant for tax returns too.

What Happened to Enhanced Capital Allowances?

IMPORTANT CHANGE: Enhanced Capital Allowances (ECA) ENDED in April 2020! Many websites still mention it, but don’t be fooled.

What’s replaced it in 2025?

• Annual Investment Allowance (AIA): £1,000,000/year limit
• 100% deduction in the first year for all qualifying plant & machinery
• No separate “energy efficient” list anymore – all energy-efficient investments fall under AIA

Annual Investment Allowance (AIA) – The New System

AIA is £1 million annually and covers:

Lighting:

• LED lighting units
• Motion sensors, daylight controls
• Smart lighting management systems

Heating and Cooling:

• Heat pumps (air source, ground source)
• High-efficiency boilers
• Radiant heaters
• Smart thermostats

Ventilation and Air Conditioning:

• Energy-efficient AC units
• Variable speed drives
• High-efficiency motors
• Heat recovery systems

Note: AIA doesn’t apply to cars, but does apply to vans, white goods and all other equipment.

Solar Panels and Renewable Energy – Worth It in 2025?

Short answer: Yes, but costs are higher than many think.

2025 solar panel tax reliefs:

• 100% capital allowance through AIA (if within the £1M)
• Smart Export Guarantee (SEG) – 5-15p/kWh for exported electricity
• 0% VAT until March 2027
• Business rates exemption (for larger systems)

Real example from Southampton (UPDATED PRICES):

A client with a 12-person office:

• 10kW solar panel system: £13,500 with installation (October 2025 prices)
• Annual generation: ~8,500 kWh
• Annual savings: ~£2,200 (2025 prices)
• 100% AIA deduction year 1: £3,375 tax rebate (25% CT)
• SEG income: ~£450/year
• Payback period: ~4.5 years

But – and this is important – this is in a sunny southern area. If you’re in Scotland, add another 1-2 years to the payback period.

Common Mistake:

Many people buy solar panel systems without checking building orientation and shading. Always get an independent assessment first! Quick ROI calculators typically overestimate production by 20-30%.

ESG Compliance and Hidden Tax Benefits

You know what nobody talks about? ESG (Environmental, Social, Governance) compliance is increasingly not a choice, but a requirement in the UK.

What Is ESG and Why Does It Matter for Tax?

Let’s be honest – ESG compliance sounds intimidating at first. But it’s really about your business operating responsiblyfrom environmental, social and governance perspectives.

Here’s the kicker: From 2025 onwards in the UK, more grants and tenders require ESG reports. If you’re not ESG compliant, you’re simply excluded from certain bids.

Sustainability Reporting – Do I Need This?

If you have 250+ employees or £36M+ turnover: Yes, mandatory.

If you’re a small business (like most UK companies): Not mandatory, but…

Listen: more and more large UK companies only work with suppliers who have ESG reports. A construction client lost a £120,000 tender last year because they didn’t have an ESG report.

R&D Tax Credits for Green Innovation – NEW MERGED SCHEME FROM 2024

CRITICAL CHANGE: A new merged R&D scheme has been in effect since 1 April 2024!

Old system (until March 2024):

• SME scheme: 130% additional deduction
• RDEC: 13% credit

New merged scheme (from April 2024):

• All companies (SME and large) use the same system
• 20% above-the-line credit on qualifying R&D expenditure
• The credit is taxable income, so net benefit is ~15-16.2% (depending on CT rate)
• Exception: R&D intensive loss-making SMEs (30%+ R&D intensity) – they get 14.5% credit

Examples of what counts as green R&D:

• Developing energy-efficient production processes
• Carbon footprint reduction software
• Recyclable packaging development
• Testing environmentally-friendly materials
• Renewable energy integration solutions

Calculation example (new merged scheme):

An SME spends £100,000 on qualifying green R&D:

• 20% RDEC credit = £20,000 credit
• This is taxable income, so CT at 25% = £5,000 tax
• Net benefit: £15,000 (15%)

Insider tip: Many UK business owners think R&D is only for big tech companies. Wrong. If you have your own development that’s green-focused, it’s worth investigating.

Key Takeaways – ESG and R&D:

• ESG compliance is an increasingly important tender requirement
• New merged R&D scheme: 20% credit (net ~15-16%)
• R&D intensive SMEs: 14.5% credit
• Supply chain advantage: large UK companies prefer ESG-compliant partners

Step by Step: How to Claim Green Tax Reliefs

Right, enough theory. How do you actually claim these green tax reliefs? Let’s go through it step by step, as we do at AWOC.

Step 1: Decide What to Invest In

Don’t rush! I’ve seen people buy an electric car, only to find they needed diesel for their fleet’s long distances.

Planning checklist:

• What’s the company’s actual need? (not just the latest trend)
• What ROI do you expect? (be realistic + factor in new VED costs)
• Is there compatible infrastructure? (e.g. charging points)
• Can your cash flow handle it? (or do you need to lease)
• Are you within the deadline? (100% FYA until March 2026!)

Note: If you’re leasing, you can still claim deductions, but it works differently. Consult your accountant beforehand!

Step 2: Check Eligibility

Not every “green” product qualifies for tax relief. HMRC works with specific criteria.

Where to check:

• Vehicle Certification Agency: gov.uk/check-vehicle-tax
• Annual Investment Allowance: £1M limit for qualifying plant & machinery
• DVLA vehicle data: electric vs hybrid classification

Common mistake: Many think if it has an “eco-friendly” label, the relief is automatic. Wrong. Only officially qualified equipment is eligible.

Step 3: Document Properly

This is where the devil’s in the details. HMRC likes precise documentation.

What you need to keep:

• Invoice – with detailed breakdown
• Manufacturer’s certificate
• CO2 emissions certificate (for vehicles)
• Installation documentation
• Proof of date placed in service

I remember when… a client lost a £3,500 tax deduction because they couldn’t prove the solar panel system was commissioned in 2024, not 2025. Invoice date isn’t enough – they needed the grid connection certificate too.

Step 4: Report in Corporation Tax Return

This is your accountant’s job, but you need to understand the process:

In the CT600 form:

• Capital allowances section (boxes 1-30)
• First-year allowances separately stated
• Annual Investment Allowance (£1M limit) separate category
• Carry forwards if applicable

Deadlines for 2025-2026:

• 12 months after year-end: CT600 submission
• Payment deadline: year-end + 9 months + 1 day

What if you’re late? Automatic £100 penalty, plus daily interest on unpaid tax. Not worth it.

Step 5: Track and Optimise

Most business owners stop at submission. This is a mistake.

What to do annually:

• Review your capital allowances pool
• Check for new eligibilities
• See if another investment is worthwhile (before March 2026!)
• Document savings (monitoring)

Listen: If your business is growing, it’s worth creating a 3-year green investment plan. This way you can plan cash flow and tax savings in advance.

Common Mistakes and Misconceptions – Avoid These!

Let’s look at what I see day in, day out. These are mistakes that are easily avoidable, yet many make them.

Mistake #1: “I’m Too Small for This”

Myth: Green tax reliefs are only for big companies.

Reality: Even a sole trader qualifies. In fact, small businesses often see bigger relative savings.

Example: Tom, a freelance photographer from Manchester, bought an electric car for £22,000. 100% capital allowance = £22,000 deduction. As a sole trader, from income tax (40% bracket) = £8,800 saving in first year. Small company, big impact.

Mistake #2: Poor Timing – Critical Until March 2026!

Myth: Doesn’t matter when I buy it, I can still deduct it.

Reality: The accounting period matters! And the 100% FYA expires on 31 March 2026!

If you buy an electric car in April 2026, you’ll only get the standard 18% writing down allowance annually, not the 100%.

Timing tips:

• November 2025-March 2026: ideal period for 100% FYA
• Buy before year-end (not after!)
• Date placed in service counts, not order date

Mistake #3: Mixed Use – Not Clarifying

Myth: If my car is 80% business, I can claim 80%.

Reality: Yes, BUT this must be precisely documented. Mileage log, business trip proof, private vs business split.

HMRC audits check this first. If you don’t have proof, they’ll reject the entire claim.

Mistake #4: London Congestion Charge – Not Knowing the New Rules

Myth: Electric vehicles are always free in London.

Reality October 2025: FREE until 25 December 2025, then it changes!

From 2 January 2026:

• Electric cars: 25% discount (£13.50/day instead of £18)
• Electric vans: 50% discount
• AutoPay registration required
• Further reductions from 2030

Factor into annual costs: If you drive into central London daily, that’s £3,500+/year extra cost from 2026!

Mistake #5: Hybrid vs Electric Confusion

Myth: Hybrid vehicles get the same benefits.

Reality: Big difference! Fully electric (zero emission) vs plug-in hybrid categories get different treatment.

Comparison table:

See the difference? A £35,000 hybrid’s first-year relief: £1,575. Same car as electric: £8,750. £7,175 difference!

Key Takeaways – Avoiding Mistakes:

• 100% FYA deadline: 31 March 2026 – don’t miss it!
• London Congestion Charge changes December 2025
• Document EVERYTHING – no paperwork, no relief
• Electric ALWAYS better than hybrid for tax
• VED now applies to electric vehicles too

2025-2026 Changes: What the New Year Brought

You know what always changes in the UK? Tax laws. Let’s see what’s new in 2025-2026 on the green tax relief front.

Spring Budget 2024 Impacts on 2025-2026

Jeremy Hunt’s spring budget extended the 100% FYA until March 2026, which is good news.

What Remains and Was Extended:

• Electric vehicle 100% FYA: guaranteed until 31 March 2026 (CT), 5 April 2026 (IT)
• AIA: £1,000,000 permanently (since 2023)
• Workplace Charging Scheme: £350/socket until March 2026

What Changed in 2025:

• Company car tax (BIK): 2% → 3% (2025/26), then gradually to 9% by 2029/30
• VED introduction for electric vehicles: £10 first year, £195 annually (from 1 April 2025)
• Expensive car supplement: £425/year for £40k+ vehicles (years 2-6)
• London Congestion Charge exemption ends: 25 December 2025

Brexit Impact on Green Taxation

This is a commonly misunderstood area.

What CHANGED after Brexit:

• EU green grants ended (e.g. Horizon programmes)
• UK pursues independent policy on green tax matters
• Import duties and costs on equipment purchased from EU

What DIDN’T CHANGE:

• Domestic capital allowances system remains the same
• UK green tax relief regulations remained independent
• Tax relief rates haven’t decreased

Real example: A client ordered a solar panel system from Germany in 2023. Import duty + VAT + admin made it 15% more expensive than a UK supplier. Capital allowance was the same, but initial cost was higher.

UK CBAM – Coming in 2026?

This isn’t set in stone yet, but likely:

UK Carbon Border Adjustment Mechanism (CBAM): Similar to the EU version, imposing extra duty on imported high-carbon products.

What does this mean for you?

• If you import goods, look for low-carbon suppliers
• If you export to EU, EU CBAM is already active from 2026
• Green investments make you more competitive

Numbers That Count: ROI Calculations for 2025-2026

Enough theory. Let’s see concrete numbers. How much can you actually save?

Scenario #1: Small Business (5-10 Employees)

Profile: Service company (IT, marketing, consulting)

Green investments:

• 2 electric company cars: £50,000
• Office LED lighting replacement: £3,000
• 5kW solar panel system: £6,500

Annual tax saving (first year):

• Cars 100% FYA (25% CT): £12,500
• LED 100% AIA: £750
• Solar panels 100% AIA: £1,625
• First year: £14,875

Plus operational savings:

• Petrol vs electricity: ~£3,500/year
• Office electricity reduction: ~£800/year
• Solar generation: ~£900/year
• Annual recurring: £5,200

Minus new costs (from 2025):

• VED for 2 cars: £390/year (£195 × 2 from second year)
• London Congestion (if used, from 2026): ~£3,500/year less saving

Total 5-year ROI:

• Tax saving year 1: £14,875
• Operational savings 5 years: £26,000
• Minus VED 5 years: -£1,560
• Total: £39,315 savings
• Investment: £59,500
• Net position after 5 years: -£20,185 (but you still have £45,000 worth of vehicles)

Scenario #2: Medium Business (15-30 Employees)

Profile: Construction company with fleet

Green investments:

• 5 electric light commercial vehicles: £150,000
• 10kW solar panels: £13,500
• Heat pump central heating: £18,000
• LED + smart controls: £8,000

Annual tax saving (first year):

• Fleet 100% FYA: £37,500
• Solar AIA: £3,375
• Heat pump AIA: £4,500
• LED AIA: £2,000
• First year: £47,375

Operational savings:

• Diesel vs electricity (5 vans): ~£14,000/year
• Solar generation: ~£2,000/year
• Gas vs heat pump: ~£5,500/year
• LED savings: ~£1,200/year
• Annual recurring: £22,700

Minus new costs:

• VED for 5 vans: £975/year (from second year)

5-year ROI:

• Tax saving: £47,375
• Operational 5 years: £113,500
• Minus VED 5 years: -£3,900
• Total: £156,975
• Investment: £189,500
• Payback period: ~4.4 years

Key insight: The bigger the fleet, the faster the payback (even with new VED). And this doesn’t even count brand valueand ESG compliance benefits.

FAQ: Common Questions About Green Tax Relief

Question: Does a Used Electric Vehicle Qualify for Tax Relief?

Answer: Partially. If you buy a new car as first owner by 31 March 2026, then 100% FYA. If you buy used, you still qualify for capital allowance, but only at the standard writing down allowance rate (18% annually), not the 100% FYA.

Exception: If you buy a used car that’s never been used for business purposes, there may be a chance for FYA. But this must be documented.

Question: I Work from Home but Use the Company Van. What’s the Situation?

Answer: If the vehicle is exclusively for business use (you don’t take it for personal use), then 100% business expense and full FYA. If mixed use, you must apportion based on private vs business split.

Note: HMRC generally doesn’t believe a van is 100% business-only if you park it at home. Prepare to prove it: mileage log, business trip log, etc.

Question: Does a Leased Vehicle Qualify for Tax Relief?

Answer: Yes, but differently. With leasing, you can’t write off the full purchase price, but rather the monthly lease payments as allowable expenses.

Electric vehicle leasing: 100% of lease payment deductible. Petrol/diesel leasing: Maximum 85% deductible (15% restriction due to CO2 emissions).

Which is better? Depends:

• If you have cash flow: purchase, bigger first year relief (100% FYA until March 2026!)
• If cash is tight: leasing, but remember this relief expires soon

Question: What If I Sell the Car After 2 Years?

Answer: This is a common misunderstanding. If you sell within 2 years and the selling price is higher than the accounting value, you’ll have to pay a balancing charge.

Example:

• Bought an electric car for £30,000
• Claimed 100% FYA = £30,000 deduction year 1
• Sell after 18 months for £25,000
• Balancing charge: £25,000 (you have to pay tax on this)

Tip: If you know you’ll sell soon, don’t take the 100% FYA in the first year, write down at standard rate instead. This smooths out the balancing charge.

Question: What Happens in April 2026 When the 100% FYA Expires?

Answer: Good question! From 1 April 2026 (CT) / 6 April 2026 (IT), electric vehicles will be treated like other assets:

• Standard writing down allowance: 18% annually
• Or use AIA (if still within £1M limit)

Example:

• £30,000 electric car purchase in April 2026
• Option 1: Use AIA (if capacity remains) = 100% deduction
• Option 2: Writing down allowance = £5,400 first year (18%), then continues

Advice: If you’re planning a major fleet purchase, do it by March 2026!

Key Takeaways – FAQ:

• Used car: only standard rate, not 100% FYA
• Leasing: monthly cost deductible, but no full first-year benefit
• Early sale: balancing charge risk
• After April 2026: 18% writing down allowance or AIA

What’s Your Next Step? How Can AWOC Help?

Right, you’ve read this far (or skipped straight here, which is totally fine!). So what now?

Don’t Wait – The 100% FYA Expires in March 2026!

Listen: the 100% FYA for electric vehicles expires on 31 March 2026. This is serious, there’s currently no extension plan!

Your action plan for October 2025 – March 2026:

1. By end of November 2025: decide what investments you’re making
2. January 2026: procurement and documentation
3. By 15 March 2026: place in service (this is critical!)
4. First 2 weeks of April 2026: all documents to your accountant

I remember when… there was a similar deadline in March 2023, and in the last week everyone was scrambling to find suppliers. Prices shot through the roof because everyone panicked. Don’t be that business owner.

Free Consultation at AWOC

I know I have to say this, but I genuinely don’t want to sell you anything. The truth is, green tax reliefs are so complex – and changing so fast right now – that it becomes worthless if you get it wrong.

What AWOC offers during a free consultation:

• Personalised ROI calculation for YOUR business (including new VED costs)
• We check which investments are worth it for YOU by March 2026
• We look at timing and cash flow impact
• Concrete action plan for the next 5 months (until 31 March 2026)

What we WON’T do:

• Push anything you don’t need
• Overcomplicate things
• Give generic advice (you need personalised guidance)

Get in Touch – Now!

These investments take months from planning to implementation. If you want the 100% FYA by end of March, you need to start NOW.

Request a free consultation here!

Our team, led by Peter, has helped hundreds of UK businesses with green investment decisions. We know the typical pitfalls and how to avoid them.

Remember: A 30-minute conversation could save you £8,000-£20,000 in 2025-2026. And you only have 5 months left for the 100% FYA.

Summary: Bottom Line Up Front

If you take away just ONE thing from this article:

Green tax reliefs in the UK for 2025-2026 are real, substantial, but CHANGING. An average small business can save £10,000-£18,000 annually, a medium-sized company £35,000-£50,000. But the 100% first-year allowance expires on 31 March 2026.

The 3 most important action points:

1. Electric vehicles: If you use a fleet, switch by March 2026 – 100% FYA expires!
2. Energy-efficient investments: LED, heat pump, solar panels – 100% deductible through AIA
3. Factor in new costs: VED £195/year, London Congestion Charge changing

What you can do today:

• List potential investments (vehicles, office improvements)
• Cost estimate and quick ROI calculation (including VED)
• Book NOW for free consultation at AWOC

Listen: The best business owners aren’t those who know everything, but those who ask in time and act in time. You only have 5 months left for the biggest relief.

Contact us now and let’s start saving!

Sources and References

The data in this article comes from credible sources:

1. HM Revenue & Customs (2025). “Capital Allowances: First Year Allowances”. GOV.UK. Retrieved: 6 October 2025. https://www.gov.uk/capital-allowances/first-year-allowances
2. Department for Transport (2025). “Vehicle Certification Agency – Fuel Consumption and Emissions Data”. GOV.UK. Retrieved: 28 September 2025.
3. Office for Zero Emission Vehicles (2025). “Benefit in Kind Tax Rates for Company Cars 2025/26-2029/30”. GOV.UK. Retrieved: 6 April 2025.
4. Transport for London (2025). “Cleaner Vehicle Discount Ending December 2025”. TfL. Retrieved: 29 May 2025.
5. HM Revenue & Customs (2025). “Annual Investment Allowance”. GOV.UK. Retrieved: 22 October 2025. https://www.gov.uk/capital-allowances/annual-investment-allowance
6. GreenMatch (2025). “10kW Solar System UK: Costs & Savings”. Retrieved: 5 March 2025.
7. Federation of Master Builders (2025). “Solar Panel Costs UK 2025”. FMB. Retrieved: 2 October 2025.
8. GOV.UK (2025). “Research and Development Tax Relief: Merged Scheme”. HMRC. Retrieved: 20 March 2025.
9. Deloitte UK (2024). “The UK’s Merged R&D Regime”. Retrieved: 12 December 2024.
10. PWC (2025). “United Kingdom – Corporate – Taxes on Corporate Income”. Tax Summaries. Retrieved: 1 April 2025.

Note: All tax and financial information is based on current regulations (as of 6 October 2025). Tax laws can change, so we always recommend consulting with a qualified accountant before making decisions.