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Articles Tagged 'Expenses'

Business Entertainment

Tuesday 16th February 2016

This is a bit of strange one for contractors and freelancers but an annual event, is an allowable business expense for the company as long as the following conditions are met:

Tags: Accounts, Corporation Tax, Expenses

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Pensions - company contributions

Thursday 16th July 2015

When it comes to making pension contributions you have two choices; 1. make them personally from your savings or income or 2. have your Limited Company make contributions directly to your personal pension.

Tags: Expenses, Pensions, Limited Company

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Employing someone and the taxes involved

Thursday 16th July 2015

​Taking on an employee might seem very daunting but there are some great tax reliefs which make it cheaper than you may have thought.

Tags: Expenses, PAYE, National Insurance, Salary

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P11D and P11D(b) deadline fast approaching

Tuesday 16th June 2015

P11D and P11D(b) need to be with HMRC by 6 July 2015.

Tags: Expenses, HMRC, PAYE

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VAT registered - charging your client expenses

Tuesday 16th June 2015

​If you are VAT registered then you need to keep in mind the rules on VAT for expenses charged to a client.

Tags: VAT, Expenses

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P11D time nearly here

Friday 15th May 2015

​It's P11D time! Over the coming weeks we will be in touch with those clients that will need to submit a P11D and a P11D(b). We will of course be preparing the returns for you ​and simply sending them to you to review and approve and then for you to post directly to HMRC - all the detail will be in our P11D email which you will receive in the coming week or two.

Tags: HMRC, PAYE, National Insurance, Expenses

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Donating to charity and sponsorship

Monday 13th October 2014

Charitable donations made from your Ltd Company to a registered charity are always a tax deductible payment. The charity enjoys 100% of the donation and your company enjoys 20% Corporation tax relief.

Tags: Expenses, Limited Company, Corporation Tax

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VAT and charging clients for expenses

Tuesday 13th May 2014

If you are VAT registered then you need to keep in mind the rules on VAT for expenses charged to a client.

Tags: Expenses, HMRC, Limited Company, VAT

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Claiming the cost of lunch

Wednesday 16th April 2014

The cost of lunch can be claimed when you are working at a temporary workplace.

Tags: Expenses, Limited Company

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Buying a company van

Thursday 10th April 2014

Company vans are taxed very differently to company cars and can be more tax efficient, below are the two options if you are thinking about buying a van.

Tags: Corporation Tax, Expenses, Limited Company

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Introduction to Sponsorship

Sunday 16th March 2014

​Sponsorship is a tricky area with a number of potential pitfalls. Just like a huge number of expense claims you have to look at any potential sponsorship expense with common sense to understand how your limited company would receive tax relief.

Tags: Expenses, HMRC, Corporation Tax, Limited Company

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Travel expenses - Temporary Workplace Rules

Tuesday 12th November 2013

​Travel costs are an allowable expense as long as they are for the following: - Travelling that must be undertaken to perform your business duties. - Not journeys which, are ordinary commuting or private travel.

Tags: Expenses, Limited Company

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Entertainment - the tax issues

Monday 01st July 2013

This is a bit of strange one for contractors and freelancers but an annual event, usually a Christmas Party, is an allowable business expense for the company as long as the following conditions are met:

Tags: Expenses, HMRC, Limited Company

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Travel Expenses - the two year rule

Monday 03rd June 2013

Travel costs are an allowable expense as long as they are for the following: - Travelling that must be undertaken to perform your duties. - Not journeys which, are ordinary commuting or private travel.

Tags: Expenses, Corporation Tax

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Training Expenses

Monday 13th May 2013

Over the last few years many contractors have chosen to boost their chances of winning contracts by investing in themselves. Training expenses fall into two different categories for tax, those that develop your current skills and those that give you new skills - below are the details.

Tags: Expenses, Corporation Tax, Limited Company

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Tax changes 2012-13

Wednesday 14th March 2012

Corporation Tax: The small profits rate paid by contractor companies stays at 20% having been reduced from 21% in April 2011.

Tags: Income Tax, Corporation Tax, Inheritance Tax, VAT, PAYE, National Insurance, Pensions, Expenses, Dividends

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Reduce your tax bill and boost your pension with an employer contribution

Thursday 11th August 2011

Working through a limited company is almost always the most tax efficient option for Contractors; however you can reduce both personal and corporate taxation even further by using your company to invest towards an income in retirement.

Tags: Pensions, Expenses

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