Accounting for use of home really does point out the differences between running a business as a director / shareholder of a limited company and running a business as a sole trader. Running your business as a sole trader allows you to claim tax relief for costs, charged to you as an individual, that you can […]
Category: Business Expenses
Small Company Director/Shareholders – Company Cars and Vans
Personal taxation on company cars has been increasing for years particularly on private fuel benefit. Whether there is a financial benefit from having a car and fuel financed through the company really needs to be looked at carefully on an individual basis. My reckoning says unless you want an expensive zero emission vehicle and will […]
What can I claim for? Clothing and Subsistence
Always a question that I get asked. Clothing is easy, subsistence is not so easy. Whenever you think about whether you claim for this or that as a business expense think about how the HMRC will view it. Their mantra is “wholly and exclusively” and they will also want to consider the “duality “of an expense. […]
Employment Allowance
As of 6th April 2014 the government has introduced an ’employment allowance’ of £ 2,000 for all businesses and charities. Effectively a £ 2,000 nil rate band on employer’s national insurance the allowance will benefit all businesses that currently pay employer’s national insurance as part of their payroll. Whether you are a sole trader employing […]