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Cardens A-Z Guide of Business Expenses You Can Claim: R is for…

RESEARCH & DEVELOPMENT The process of inventing and solving the associated problems is called research and development (R&D). Companies can more than double the tax deduction given for the costs of R&D. The new ‘stuff’ could be a product, a material or a process which has been changed or improved. For example if you find a…Read More

Cardens A-Z Guide of Business Expenses You Can Claim: P is for…

POSTAGE  Costs incurred for postage used wholly for business purposes can be claimed for tax relief. PRINTING You can claim tax relief on printing costs related to business. Good examples are business cards, letterheads and posters. PROFESSIONAL FEES You can claim the full cost for professional fees invoiced to the business (for example, the fee…Read More

Cardens A-Z Guide of Business Expenses You Can Claim: M is for…

MEDICAL EXPENSES Unfortunately, you can pretty much never claim tax relief for any medical expenses incurred even if they are for an injury sustained at work. There are however exceptions, HMRC gives an example of an experienced radio performer who has her teeth straightened to allow her to work in TV. It is generally best to…Read More

Cardens A-Z Guide of Business Expenses You Can Claim: L is for…

LIGHT & HEAT If you work from home, just like like council tax, and rent, you can also claim tax relief on a percentage of your light and heating bill (e.g. electric, gas and oil). The amount will be based on how much you use your home for business and how much for non-business. However if…Read More

Cardens A-Z Guide of Business Expenses You Can Claim: J is for…

(CLINIC) JACKETS Clinic jackets as worn by a doctor, dentist, chiropractor etc… are one of the few clothing items that are allowable for tax relief as they are considered wholly and exclusively for business use. As a general rule an employee cannot get tax relief for the cost of clothing they wear to work – but there…Read More

Cardens A-Z Guide of Business Expenses You Can Claim: I is for…

INSURANCE Tax relief can be claimed on the full cost of insurance for business, for example contents insurance for an office, or a specialist home business policy. However, if your insurance has a mixed purpose, for example, private medical insurance for the business owner you cannot claim tax relief . If you need tailored accountancy advice contact us directly…Read More

Cardens A-Z Guide of Business Expenses You Can Claim: H is for…

HOTEL ACCOMMODATION When travelling away on a business trip you can claim tax relief on the full cost of your hotel or bed and breakfast accommodation providing the trip is primarily for business and not for non-business. However, if your trip is for both business and non-business, you need to be able to clearly separate…Read More

Cardens A-Z Guide of Business Expenses You Can Claim: G is for…

GAS If you work from home, just like like council tax, electricity and rent, you can also claim tax relief on a percentage of your gas bill. The amount will be based on how much you use your home for business and how much for non-business. However if you work from an office you can claim…Read More

Cardens A-Z Guide of Business Expenses You Can Claim: F is for…

FLIGHTS You can claim the full cost of air travel if the purpose of your journey is solely for business reasons. If your journey is for mixed purposes (as in both business and private), then you can only claim any costs that you can clearly separate from the private part of your journey. If you can’t separate…Read More

Cardens A-Z Guide of Business Expenses You Can Claim: E is for…

ELECTRICITY If you work from home and are the only one  who works for your company or you are registered as self-employed, you can claim back a percentage of your household electricity costs. This amount will be based on how much you use your home for business and how much for non-business. However, if you…Read More

Cardens A-Z Guide of Business Expenses You Can Claim: D is for…

DOGS Some dogs (and other animals) are classed as “Working animals”, for example farm working dogs, gamekeepers’ spaniels, police dogs, or army bomb disposal dogs. If you own a working animal of any kind, the animal must be used primarily or exclusively for working purposes, such as drafting, herding, or guarding. These working animals are…Read More

Cardens A-Z Guide of Business Expenses You Can Claim: C is for…

COMPUTER EQUIPMENT & ELECTRONICS If the company gives you computer equipment that you can use for business and also more than an “insignificant” amount of private use, the company will have to pay extra National Insurance as this is considered a taxable benefit. If you are registered as Self-Employed and you buy new computer equipment…Read More

Cardens A-Z Guide of Business Expenses You Can Claim: B is for…

BANK INTEREST & OVERDRAFT CHARGES Business accounts If your company has a business bank account in its own name, it can claim tax relief on the interest payments and charges. Personal accounts Interest and charges on a personal bank account or credit card are not allowable for tax and shouldn’t be included in the company’s…Read More

Cardens A-Z Guide of Business Expenses You Can Claim: A is for…

ADVERTISING AND MARKETING: You can claim tax relief on advertising, promotional and marketing costs for your business. Although, please do be careful as some costs that you may consider “marketing” (like taking a client out to lunch) may be considered as “entertaining” by HMRC. Unfortunately, HMRC will not allow you to claim tax relief for…Read More

Cardens Accountants open their doors for #BDFOpenStudios

After the success of Cardens throwing open our doors for last year’s Open Studios week – every session sold out – we are back bigger and better this year.  Each day we are running a different topic that we think you will find useful. There are one to one sessions with our team of qualified…Read More

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