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Search results: 50 article(s) found in topic: Tax and VAT - keyword: Expenses

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Are home to work travel costs tax deductible?


Tax relief for company assets used for advertising

You drive and sometimes race go-karts as a hobby. A friend says that simply by displaying your company’s name and logo on your kart you’ll be entitled to a tax deduction and can reclaim the VAT paid on the cost of your hobby. Is this correct? More...


Getting your company to pay your personal expenses

Your teenage daughter wants you to fork out £1,500 to pay for a weekend residential course. You could open your personal cheque book for this but would it be more tax efficient if your company paid? More...


Justify your expenses or face fines

Keeping accurate records for business expenses is important as they not only affect your company’s tax position but yours too. What are the requirements for you and your business and what are the dangers of not meeting them? More...


HMRC updates expenses toolkit


Maximising tax deductions for new equipment

You’re about to pay over £2,000 for a new PC plus some fancy software. You’ll use it mainly for work but also for private matters. Is it more tax efficient for you or your company to claim tax relief for it? More...


Advance travel expenses - what’s the tax and NI catch?

One of our subscribers is going to pay his staff an advance to cover travel expenses. He’s getting conflicting advice about the tax and NI consequences. What steps should he take to avoid trouble with HMRC? More...


HMRC’s updated list of approved expenses


Which is more tax efficient, loans, HP or credit cards?

If you personally borrow money to pay for equipment you use for your job you may be entitled to a tax deduction for the interest you pay. As the rules are tricky, how can you ensure that you don’t lose out on tax relief? More...


Tax relief cuts accountant’s costs

You’ve received a bill from your accountant for preparing your company’s annual accounts and tax return. The fees also cover work on tax matters for you and your fellow directors. How much of the bill is tax deductible? More...
Last updated: 26.05.2020

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