Blog
Tax relief for pre-trading expenses
Did you know that you can claim tax relief for revenue and capital expenses that were incurred in setting your business up? In this article you can learn more about pre-trading expenses. #businesstax #tadadvice
Recording directors’ expenses correctly
It is only permissible for a company to deduct expenditure in computing its taxable profits if incurred wholly and exclusively for the purposes of the trade. Since a company is a separate legal entity that stands apart from its directors and shareholders, it will not incur personal expenses.
Incidental overnight expenses
A tax exemption enables an employer to meet small personal expenses when an employee stays away from home for work, without the employee suffering a tax charge and without any need to report the expenses to HMRC.
What Expenses Can I Claim Through a Limited company
As the Director of your own limited company, you can claim expenses on costs you have incurred on certain business-related items and activities. Are you aware of the limited company expenses you may be able to claim?
Travel and Subsistence Expenses
The tax treatment of travel and subsistence expenses can be surprisingly complicated. The starting point is that employees are entitled to tax free payments for a business journey. The employer can either pay the employee tax free for the cost incurred or the employee can claim for tax relief on any shortfall through their tax return.