Business gifts are not allowed as a deduction against profits. The legislation treats gifts in the same way as business entertaining expenditure. A gift is something that is given to a person without receiving anything in exchange. It is offered … Continue reading Business Gifts
If you are a landlord, it is important that you are aware of expenses you can and cannot claim from your rental income. As a rule, these expenses must be wholly and exclusively for the purposes of renting out the property in question. In some … Continue reading What Expenses Can Property Landlords Claim?
If you have employees working from home during Coronavirus, read on to find out which expenses are allowable. To help employers see what expenses they could pay employees during the Covid-19 outbreak, HMRC published guidance entitled “Check … Continue reading What Expenses Can Employees Claim When Working From Home?
This article covers the basics of how the various different forms of tax may affect your rental property.[i] Do you pay Stamp Duty Land Tax on a buy to let property? Yes, the amount varies depending on the price of the property and where in the … Continue reading Tax on buy to let properties
...Tax Returns Advice In this blog we will try to give you the best possible generic advice for preparing your 2019 tax returns. This is aimed at making it easier and more straightforward for you to complete your 2019 tax return. If you … Continue reading FOSTERING
Clients have enquired about the possibility of claiming relief for expenses incurred in connection with closing down their company. In particular, they would like to know whether they could get tax relief for professional advice that they have … Continue reading Tax Question Of The Week – Tax Relief And Expenses
The VAT road fuel scale charges are amended with effect from 1 May 2019. Businesses must use the new scales from the start of the next prescribed accounting period beginning on or after 1 May 2019. The Valuation Table sets out the new scale … Continue reading VAT Fuel Scale Charges
If you’re an employee receiving less than £2,500 a year in business expenses, it may be worth finding out if you can claim more by completing a P87 tax form. The P87 allows you to claim tax relief if your employer hasn’t reimbursed you for your … Continue reading Using P87 to claim tax relief on expenses
It’s a pretty basic question: “What can I claim for when I work from home?” However, the answer is straightforward only when you recognise the variations in practice. The self-employed are subject to very different rules compared to employees, and … Continue reading Expenses Guidelines for Sole Traders & Partnerships
It’s important that you do not get confused between what you can claim as a limited company, what you can claim if you are self-employed, and what can be claimed for VAT and Tax. This factsheet will help clarify what expenses you are allowed to be … Continue reading Guide to Expenses for Limited Companies