Christmas is fast approaching, and in the season of goodwill, you may be thinking of hosting a gathering or buying a few gifts for colleagues or customers. Here’s a quick reminder of the relevant tax relief rules, so you can be generous without running into trouble with HMRC.
Starting a new business may involve some costs. You may need to pay for a number of products and services before your limited company is actually formed. This means...
Broadband, mobile and telephone costs are some of the most common expenses recorded by limited company owners. It would be impossible to run a business without these...
Looking after the health of your employees (and yourself) will always be high on your priority list if you run a limited company. You may incur some annual...
Corporation Tax is a good example of a tax liability that can be significantly reduced if done right.
By aligning your company’s annual profit against its annual costs, you may be able to lower your tax bill quite substantially.
Last night, Chancellor Rishi Sunak announced a package of measures designed to support self-employed people. Whilst we are awaiting detail on a number of areas, here’s a summary of what we know so far.
The article was updated on the 4th of December 2020 The question most often asked by clients is “what expenses can I claim?”. However, the response isn’t as simple as you would imagine. What business expenses are allowable and what is The Golden Rule? All trading...
With the festive season in full swing and Christmas parties being the talk of the office, it is worth considering what expenses you can claim through your limited company. The “Annual Party” As a director of a limited company, you are exempt from paying tax and...
It’s that time of year again, the festive season is upon us, and the Christmas parties are about to get into full swing! For further clarification, we have put together a brief guide. The “Annual Party” Although most businesses utilise their £150 per employee...
'Tis the season and the good news is even contractors and small owner managed businesses can celebrate, tax-free! Christmas Parties Even if you're the only employee within your business, as a director of your company, you are exempt from...
When you are contracting or working from home, your home is deemed your principal place of business and therefore your company is able to contribute towards its running costs. This is known as the 'use of home as office allowance' which is provided for as an expense...
In a nutshell, you can claim expenses from before you form a company. Setting up a limited company isn't something that many people take lightly. In fact in most cases, there are certain costs just involved with setting up a limited company. So before...
There are numerous rules and limitations when contracting. However, one of the more important rules all contractors need to be aware of is the "24-month rule" when claiming expenses. What is the 24 month rule? As a contractor, you are only permitted to claim travel...