In general, you can claim any expenses incurred entirely and exclusively for the purposes of the business. Those expenses can be pre-trading expenditure, cost of goods bought for resale and raw materials used in business, general business running expenses, employment related costs, motor and traveling expenses, use of home for work.
Read MoreYou can only reclaim the VAT on the proportion of your expenses that are not used for the business entertainment and are used for the business purposes.
Read MoreIf you provide entertainment to reward your team for good work or to maintain and improve staff morale, this is considered to be for business purposes and so you can claim back the VAT.
Read MoreGenerally, the VAT cannot be recovered on the business entertainment expenses. It makes no difference whether the person being entertained is an existing customer, a potential customer or any other person who is not an employee.
Read MoreDownload by bookkeeping checklist for new clients as a pdf.
Read MoreYears ago, a company car was seen as a massive incentive towards taking a new job. However, recently many employers have preferred to offer a car allowance which could prove more financially beneficial to both you and the firm. So when presented with two options – a company car or a car allowance – which should you choose? This guide will examine the pros and cons of both.
Read MoreAccurate mileage expenses are important, if for any reason you are estimating your mileage you may be over or under claiming. Under claiming means less money in your pocket and over claiming leaves you open to inspection from HMRC.
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