If I were to create a hit list of questions asked by clients, the one that would be in our top 3 would be around company cars and company car tax implications. A company car is often seen as a desirable perk — but in reality, whether it’s a good idea depends on who you
Category Archives: Allowable Limited Company Expenses
Allowable Limited Company Expenses, Tax Planning & Saving Tips
Not All That Glitters Is R&D: Why HMRC Is Clamping Down on Dodgy Claims
At DNA Accountants, we’ve seen a worrying pattern lately: clients who were encouraged by so-called Research & Development (R&D) “specialist” firms to make claims they never should have submitted. The result? HMRC is now knocking on the door, asking for the money back – and in some cases, charging penalties on top. R&D tax relief
Allowable Limited Company Expenses, Director’s Pay vs Dividends, Tax Planning & Saving Tips, Year-End Preparation Tips
Salary, dividends or both? What you need to know about directors’ loans
If you run a limited company, one of the biggest perks is the flexibility in how you pay yourself. But with that flexibility comes confusion. Should you take a salary, dividends… or a bit of both? And what’s this “director’s loan account” everyone keeps talking about? Let’s break it down in plain English (with no
Allowable Limited Company Expenses, Self-Assessment Tips for Sole Traders, Tax Planning & Saving Tips
Buying or Leasing a Van: What’s Best for Your Business?
If you’re a business owner, choosing between buying or leasing a van can feel like a big decision. In this guide, we break down the pros, cons, and tax advantages of buying or leasing a van, so you can make a choice that suits your business needs and budget. What’s the Difference When Buying or
Allowable Limited Company Expenses, Corporation Tax, Organising Your Receipts & Invoices, Tax Planning & Saving Tips, Xero Tips & Tricks, Year-End Preparation Tips
Year-end tax planning for limited companies – top saving tips
Year-end tax planning for limited companies is all about making the most of reliefs and allowances before the clock runs out. If your company’s financial year-end is on the horizon, now’s the perfect time to review your finances and make sure you’re not missing any golden opportunities to save tax. From pension contributions to equipment
Allowable Limited Company Expenses, Organising Your Receipts & Invoices, Tax Planning & Saving Tips
Why Allowable Expenses aren’t always Black and White
When it comes to allowable expenses, things aren’t always as straightforward as we’d like. The idea of reducing your tax bill by claiming legitimate expenses is appealing, but what happens when those expenses fall into a grey area? In this blog, we’ll explore some of the trickier expenses that aren’t always black and white, and
What is a Fixed Asset? Alright, folks, let’s dive into the world of fixed assets. Imagine fixed assets as the big-ticket items in your business – the ones that stick around for a while and help you generate revenue. We’re talking about things like buildings, machinery, vehicles, and even that snazzy office furniture. Capitalisation: When
Allowable Limited Company Expenses, Changes to Tax Rates & Thresholds, Corporation Tax, Self-Assessment/ Personal Tax, Tax Planning & Saving Tips
Moving Your Investment Property to a Limited Company: What You Need to Know
Thinking about moving your investment property into a limited company? You’re not alone! Many UK landlords are considering this move and in fact recently some of our clients have been doing just that. Let’s break down the practical stuff and the tax consequences so you can make an informed decision. Practical Stuff 1.Setting
Allowable Limited Company Expenses, Tax Planning & Saving Tips
Why should my Company buy an Electric Car?
Have you been thinking about changing your car recently and are wondering about buying an electric car to help the environment - sorry, reduce tax? This is a good thing. Yes, A GOOD THING. HMRC have made this a good thing by allowing companies to get full tax relief when they buy a brand new,
Allowable Limited Company Expenses, HMRC Updates & Changes, Self-Assessment Tips for Sole Traders
What can I claim if I’m working from home?
Making a claim for Working from Home Can I claim tax relief for my goldfish, Bubbles, who keeps me company when I’m working from home? We have been asked some odd questions over the years, especially when it comes to claiming expenses of having a home office. Making a claim to your business for working
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