Christmas party expenses: Tiny Tim can have his turkey, after all
If only Ebeneezer Scrooge had known a bit more about tax exemptions. These days, the cold-hearted miser who only begrudgingly closes his office on Christmas Day could have thrown his employees a proper knees-up at a reduced cost thanks to an HMRC corporate tax relief exemption for festive entertaining costs. Not so much “Bah! Humbug!” […]
Business expenses
We discuss which business expenses are allowable. If you’re diligent you can end up saving yourself a pretty large chunk of money. So, what can you can claim for? Contracting through your own Limited Company allows each of the company’s employees to claim reasonable expenses. A company can claim from a long list of expenses, […]
Expenses
What are business expenses? A Limited Company gets tax relief for the business expenses it incurs. This means the income on which the Limited Company pays Corporation Tax is reduced by genuine business expenses and tax is calculated on the remaining profit, called taxable profit. An expense is treated as a business expense when it’s […]
Working From Home – what can you claim for?
If you use part of your home as an office, you may be able to lower your overall cost of doing business. Here we outline some of the things you might need to know if you intend to claim expenses. Claims Firstly, you need to think about HMRC. Don’t worry, they are unlikely to make […]
Can Limited Company contractors claim for Christmas party expenses?
Christmas party expenses The festive season will soon be upon us and whilst you may not officially start preparing for a few weeks to come, if you’re currently contracting in an office it will be tough to escape the office Christmas party chit-chat. As contractors aren’t usually invited to the festivities, it’s only natural to […]
What is the subsistence allowance for contractors?
What is the subsistence allowance for contractors? It’s a regular part of many contractors’ lives to travel away from home for business related purposes. This travel could be to and from a client’s workplace in order to complete work, or making journeys elsewhere which are directly related to the work being done for the client. […]
The rules surrounding tax and Christmas gifts
Tax and Christmas “It’s the most wonderful time of the year” or so the song goes, when people are busy thinking about what gifts to get each other and possibly what they’ll receive in return. But what are the rules surrounding gifts to employees or clients? Can you claim back the VAT and tax? In […]
Are Christmas party expenses claimable through your Limited Company?
Christmas party expenses The festive season is well and truly upon us and with less than two weeks until the big day, this weekend is traditionally the most popular weekend for the office Christmas party. So if you’re currently contracting in the midst of the office excitement on site, it’s only natural to feel a […]
If you contract from home, you’ll want to read this…
6 ways to beat loneliness when working alone Contracting from home can be great; you get to design your perfect working space, what radio station you listen to and enjoy endless cups of tea whilst wearing your slippers (should you wish to). But whilst it can sound like the perfect working environment for many, loneliness […]
Renting accommodation as a Limited Company contractor
Renting accommodation Most contractors will consider renting accommodation when taking on a contract that’s some distance away from their home. Your Limited Company can always foot the bill, but how do you know if it’s classed as a benefit in kind? Provided that the expense is a legitimate business cost, HMRC will not […]