There are a few options for claiming home offices expenses as a limited company. We go through them in this post starting with the simplest, and going on to the most complex. FLAT RATE AMOUNT The first is using HMRC’s flat rate amount. This is by far the simplest way and allows you to claim […]
Use of Home Expenses for Limited Companies Read More »
A question we get asked regularly is around what businesses can claim for phone and internet expenses. As always the rules differ for sole traders and limited companies! Limited Company – Can I claim for my home phone/broadband? Unfortunately much to many business owners annoyance, the answer is usually no. The old HMRC rule of
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Are you looking for a way to treat yourself or your employees and reduce your tax bill? Then you need to know about Trivial Benefits. Under HMRC rules you are able to provide gifts up to the value of £300 a year to directors and employees, at £50 a time, tax free. You don’t have
What are Trivial Benefits? Read More »
Every limited company director has experienced the moment of uncertainty regarding whether they can claim for something they intend to buy or not. Its important to know what you can claim to avoid paying more tax than you need to, and to make sure you don’t buy things through the company that aren’t allowable business
Key Limited Company Expenses Read More »
As a Sole Traders it is important to know what you can claim to avoid paying more tax than you need to, and to make sure you don’t buy things that aren’t allowable business expenses. The tricky thing for the self employed is knowing what you can and can’t claim! As with all expenses the
Sole Trader Expenses Read More »
Despite what some people may believe there is a wide range of reasons other than being self employed that may cause HMRC to ask you to complete a self assessment tax return. The most common are self employment, owning a rental property or being a director of a limited company. Below are some of the
Do I need to do a tax return? Read More »
When it comes to claiming the expense of workwear and corporate gifts it is all about using your logo! You can buy workwear with your logo on it and it will be a taxable expense. Most other clothing is not going to be allowed unless its very clearly specifically for business. Maybe you need some
Workwear and corporate gifts Read More »
Despite government pressure for everyone to return to the office now, there is resistance to this. Employees are enjoying the option to work from home particularly saving time and money on the commute, and employers are seeing the cost saving potential of shutting offices down or reducing the number of people in the office at
Working from home allowance and ways to treat your employees Read More »
When starting your own business you have to make a choice about how you would like your business set up. The main choice is between a sole trader or setting up a limited company. There are advantages and disadvantages of both and what is right for one person may not be right for you. What
Should I be a Limited Company or a Sole Trader? Read More »
One of the first hurdles to cross when starting your own business is getting everything set up and ready to go. You’ve finally settled on a limited company over being a sole trader and want to get started, but aren’t sure of what you need to do or if you’ve covered everything. Here is our handy checklist to
Limited company set up checklist Read More »