Most small business owners in the UK pay more tax than they need to. Here are the most commonly missed allowable expenses that could reduce your tax bill today.
Hate Paying Tax? Here’s How Small Business Owners Can Legally Pay Less Read More »
Did you know your limited company could legitimately cover the cost of your manicure? Here’s how CPD and trivial benefits could work in your favour as a small business owner.
How Your Business Can Pay for Your Manicure (Yes, Really) Read More »
Learn what business entertainment expenses are tax-deductible, how to handle VAT on client and staff entertainment, and tips for small business owners to manage corporate hospitality costs effectively.
Understanding Business Entertainment Expenses: Tax Deductible Costs for Small Businesses Read More »
One of the first questions we hear from new small businesses is, “Can I buy this through the business?” The fear of falling foul of HMRC’s rules on what is allowable and what isn’t is something that we can hopefully clear up pretty easily. The key thing to remember is “wholly, exclusively and necessary”. The
Business Expenses – what is and isn’t allowed Read More »
When you purchase large equipment or vehicles for your business you are not able to just buy them and knock the whole cost against your profits for the year and pay loads less tax. However, HMRC has ways available to claim a tax deduction for these items so you don’t miss out. CAPITAL ALLOWANCES Capital
What Are Capital Allowances? Read More »
Let’s be honest here, for a lot of people working from home is the dream. Laptop out, PJs on, sitting the sofa with the dog by your side while you send those emails is the ultimate fantasy for some of us! It also makes life much simpler for some parents and can really benefit those
Use of Home Expenses – Sole Traders Read More »
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
Use of Home Expenses – Phone and Internet Read More »
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 »