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Search results: 31 article(s) found in topic: Tax and VAT - keyword: Tax deductions

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TAX - COMPANIES

Turn new ideas into lower tax bills

The tax relief rules for research and development (R&D) expenditure are tricky and businesses, especially smaller ones, don’t bother to claim it. As a result, many companies are missing out on a valuable tax break. Might yours be one? More...

TAX - PROFIT EXTRACTION

How much tax will you pay on your income in 2017/18?

A new tax year starts in April and the good news is that you’ll be able to receive significantly more income taxable at the basic rate. How can you make the most of this when planning how to take income from your company in 2017/18? More...

TAX - EXPENSES

Tax relief for personal credit card charges

HMRC says that personal credit card charges aren’t tax deductible. So if you use your card to make purchases for your business, and incur interest, does it mean your company can’t reimburse you without landing you with a tax bill? More...

EXPENSES

When are business travel costs tax deductible?

As the company’s sales director you spend a lot of money wining and dining customers. However, HMRC doesn’t allow a tax deduction for this, but there are exceptions to the rule. When do they apply? More...

TAX - HOME OFFICES

Tax breaks for portable home offices

You’re having an outside office, which you’ll use for business, installed in your garden at a cost of £15,000. For optimum tax efficiency who should own it, you or your company? More...

EXPENSES

Cut your admin and save tax on foreign trips

HMRC recently updated its benchmark allowances that apply when directors or employees travel abroad on business. In what circumstances can you pay these and how can they reduce your and your company’s tax and NI bills? More...

SELLING YOUR COMPANY

Share your shares to save some tax

If you’re selling your company, the tax rate you’ll pay on the gain will be at the special rate of 10%. But, if you’re feeling generous, by including other family members in the deal you can cut the tax bill. How is it done? More...

EXPENSES

Advertising costs - beware directors’ connections

The Upper Tax Tribunal recently ruled out tax deductions for a company which advertised through local sponsorship. What was the trouble and what steps can you take to ensure your company receives tax relief in a similar situation? More...

COMPANY TAX

Tax deductions and your first accountant’s bill

You’ve just received a hefty bill from your accountant for advice on setting up your company and dealing with associated tax matters for the directors. Can the company claim a tax deduction for the whole amount or are there restrictions? More...

EXPENSES

Tax break for “triangular” business trips

The Taxman doesn’t allow a deduction for the cost of travel between your home and normal place of work. But one exception to this rule is where the trip includes a business purpose. When can you make use of this loophole? More...
Last updated: 26.05.2020

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