Travel expenses 3 : Cars & motorcycle mileage claims
Car & motorcycle travel expenses for contractors Personally owned cars and motorbikes: Are you really claiming all the travel and subsistence expenses you are entitled to? In our eBriefs, Business Journeys & Subsistence Expenses, we examined the definition of a business journey, what can be claimed for as a cost of that journey, and some […]
Travel expenses 5: Company cars
Company cars Travelling & Subsistence Expenses: Company cars In our previous eBriefs, ‘Travelling and Subsistence: Parts 1- 4’, Paul Gough, Managing Director of Intouch Accounting, provides online accounting advice for freelancers, looked at business journeys and how to claim the cost from your company of using your privately owned cars for business. We also looked […]
Travel expenses 4: Travelling and subsistence claims for contractors
Contractors’ guide to claiming motorbike, bicycle & van expenses Do you do your bit for the environment by cycling to work? Or do you commute by van or motorbike? In this eBrief, Intouch Accounting, the best accountancy services for contractors and freelancers, look at how to claim travel expenses when one of these alternatives to […]
Can I claim Christmas party expenses through my Limited Company?
Can I claim Christmas party expenses through my Limited Company? The Christmas season is officially here and contractors working in corporate environments can’t fail to notice that their salaried colleagues are gearing up for the company Christmas party. There’s no need for contractors to feel left out though. HMRC allows even the smallest Limited Company […]
What is a reasonable mileage claim for a contractor?
What is a reasonable mileage claim for a contractor? Many contractors need to drive long distances in the course of their work for clients. The costs of these journeys and maintenance of the vehicle used are legitimate allowable business expenses, but working out how to claim and what to claim for can get a bit […]
What can I claim for when using my home as an office?
What can I claim for when using my home as an office? For many Limited Company contractors it doesn’t make financial sense to rent out office space. Instead, a room or area in their own home is set aside for business use. This provides the convenience and flexibility of working at home on the tasks […]
Can I use company money to pay my personal mortgage?
Can I use company money to pay my personal mortgage? Contractors who set up as a Limited Company may find that they have surplus cash in their account, which earns very little interest in the company bank account. A question that many Contractors have is if this money can be used to offset a personal […]
Student loans
Student loans It’s fast approaching tax return season here again at Intouch, so we’re focusing our attention on the things you’ll need in order to complete your return. It’s useful if you have everything to hand before you start your return as it saves going back and forth gathering information – especially if you leave […]
Donations
Donations If you’re donating money to charity there are a few things you should be aware of, and a couple of hidden tax traps you may not know about. Paying personally If you donate to a registered charity in your own name you can opt to donate under the Gift Aid scheme. This means that […]
Directors’ loan and current accounts
Directors’ loan and current accounts The terms “directors’ loan account “ and “directors’ current account” are used quite frequently by accountants, and are simply another form of terminology for money owed by you to the company, or the company to you. When you first start trading through a Limited Company it is common for you […]