Can I claim my new computer as a business expense?

If you buy a computer and use it in your business, it is the norm that the cost is at least partly tax deductible. If you buy a computer and use it in your business, it is the norm that the cost is at least partly tax deductible. Sole Traders / Partnerships.  If the...

What expenses are not deductible for tax purposes?

Here is a list of certain expenses that aren’t tax deductible – but which regularly get claimed, or questioned, by clients: Clothing Unless it’s protective clothing, or a uniform, clothing is not tax deductible. Spectacles Eye tests are claimable for workers using...

What Are Benefits in Kind?

Benefits in Kind (BIKs) happen when an employer pays for something on behalf of the employee which is not repaid. BIKs tend to cover personal expenditure – commonly private medical/dental cover, personal use of company cars/vans and fuel benefits etc. The BIK is...

Car expenses: Sole Trader vs Limited Company

When you are a Limited Company or a Sole-Trader or Partnership, most expenses are very similar in terms of tax relief. But, there is one area where there are differences – car expenses.  A Sole-Trader would generally claim capital allowances on the car plus all the...

Non Tax Deductible Expenses

There are some common expenses that business owners mistakenly try to claim for but which aren’t actually tax deductible. The most common ones claimed in error are: clothing – which is only acceptable in very specific situations, spectacles – only acceptable in...