This is a common difficulty when calculating net rental property income and you should really seek advice. It depends on what the expenses were and when they were incurred. You can claim for maintenance and repairs/renewals. Repairing or replacing should be...
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...
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...
Generally, if you stay away overnight, you can claim for the actual costs of the accommodation and a meal on top of your mileage. You can also claim Incidental Overnight Expenses (receipts not needed) which are not necessarily business expenses but include items such...
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...
The basic 24 month rule applies – if you are an employee or director and work, or know you will work, at a temporary workplace for 40% plus of your working hours for over 24 months – you are caught by the ‘24 month rule’ and can no longer get tax relief on...