January is here and with that the same question we get asked every year from business owners: “Can I put my gym membership through the company?” A quick Google search will give you completely different answers — some saying it’s not allowed at all, others claiming it can be a tax-deductible job perk. Let’s have
Tag Archives: HMRC rules
Allowable Limited Company Expenses, Government Support & Reliefs, Self-Assessment Tips for Sole Traders, Tax Planning & Saving Tips
Entertaining staff, subcontractors and spouses – what you can (and can’t) claim as a business expense
Treating your team to a night out or saying thank you to a subcontractor can feel like a well-earned reward after a busy period. But when it comes to putting it through the books, HMRC doesn’t always share the same sense of celebration! Here’s what counts (and what doesn’t) when entertaining staff, subcontractors – and
Changes to Tax Rates & Thresholds, Tax Planning & Saving Tips
Understanding Top Slicing Relief: Why It Doesn’t Always Save You Tax
When you cash in a life insurance bond or certain investment policies, you might face something called a “chargeable event gain.” This is the profit built up inside the policy, which HMRC treats as income in the year you cash it in. The problem? The whole gain is added to your income for that year,
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