Business Expenses

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 HMRCs 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 […]

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

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

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

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

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

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

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

I know half of you will already have your Christmas plans and shopping sorted, wrapped and hidden away. And the other half are much like me and wont even consider it until December hits.For the second half of us, I know talking about Christmas at the start of November is a bit jarring, but its

Can I claim it? Is it a business expense? Is this tax deductible? We get asked this loads. Of course we do, everyone wants to save on paying tax where they can and if the business can pay, why pay out of your own pocket? Here are some of the key ones that we get