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Tax deductions for beginners

You’ve been spending your own money with the aim of creating a business, but you expect it to take a while to get going. In what circumstances can you claim a tax deduction for this and what’s the most tax efficient way to do it? More...


The right way to provide company sponsorship

The tribunal recently considered how much, if any, of a sponsorship payment made by a company was tax deductible. The judgment includes pointers on how to ensure you’ll get a deduction. What are they? More...


Are business meetings tax deductible?

A subscriber recently told us that the Taxman refused to allow a deduction for the cost of a business seminar, saying that as the expense was partly for a non-business reason, the whole lot didn’t qualify. Was he correct? More...


Get training for a tax deduction

Once again, the courts have had to step in to make sense of contradictory tax rules; this time on training costs. The judgment gave some useful clues on how you can guarantee full tax relief. What were they? More...


Getting the most out of corporate giving

Despite the continuing recession, you want your company to do its bit for charity, and usually you can expect a little help in the form of tax relief on your donation. But this year the company has made a loss. So will the Taxman still chip in? More...


Personally paying for expenses

You may have incurred expenses in getting your business up and running before setting up your company but the receipts for these will be in your name. Can the company now claim a tax deduction for these, and will this affect your tax? More...


Timing of repairs

Let’s say the Taxman challenges your claim to offset initial repairs against rental income from a buy-to-let, on the grounds that this is capital expenditure. Can he do so? If so, what’s your defence against this? More...


Repair or refurbish?

If you bought your own business property at a bargain price that needed some work done on it, should you repair and make do, or completely refurbish it? What’s the most tax-effective thing to do? More...


Wholly and exclusively, of course

You’ve incurred some expenses partly for business and partly for personal reasons. Exactly how much will be allowed for tax? The Taxman’s view is contained in his “duality of purpose” doctrine. What do you need to know? More...


New look to your car park

You’ve heard that new access laws for the disabled have been introduced that could require some expensive alterations to your car park. OK, the car park was beginning to look tatty anyway, but can you really get any tax relief for the cost? More...
Last updated: 12.08.2020

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