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...
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...
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...
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...
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...
This is a question that crops up now and again from clients who perform some of their business activities at home. Generally speaking, if the room used for the business is also sometimes used as part of the home (e.g. as a guest room, or for watching television /...
