Everything you need to know about petty cash
“Take it from the petty cash”. Admittedly, with credit cards now increasingly being used for smaller payments, this refrain isn’t quite as prevalent as it used to be, but that doesn’t mean petty cash funds have become extinct, far from it. Many businesses have one simply because it provides a quick and convenient source of […]
Self-employed? Find out what allowable business expenses you can claim
If you’re self-employed or thinking about becoming self-employed, then your business will have various running costs. The good news is some of these will be ‘allowable business expenses’, which means they can be deducted from your turnover so will reduce your overall tax bill. However, not all business expenses are allowable, and HMRC have very […]
Limited Company expenses – what can you claim?
Do you run a limited company? Have you ever wondered if you are claiming all the relevant expenses for your business without incurring any taxable benefits for yourself as director and/or your staff? Here are some of the lesser known limited company expenses that you could be claiming: Christmas parties You can spend up to […]
Confused about business expenses? You don’t need to be.
When you’re self-employed, it can be confusing knowing what you are allowed to put through as business expenses as the rules vary depending on your trade. The main rule of thumb to follow is to work out if that expense is “wholly, necessarily and exclusively” for your business. If it is, then it is an […]