Limited Company Expenses
You can offset any legitimate business expenses you incur against your company’s Corporation Tax bill. But the rules are complicated, and there are many 'grey' areas you should be aware as a business owner.
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Which limited company expenses are tax-deductible?
There are many costs you will incur while running a limited company. Which expenses can you legitimately claim against your company’s tax bill?
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Company car tax – how does it work?
If you use a car for business purposes, the way your vehicle ownership is taxed depends on whether you buy a car through your company, or use your own car.
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Broadband expenses for limited company directors
Whether you work from an office or your home, the cost of broadband is one of the most commonly claimed business expenses for limited companies.
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Charity and sponsorship expenses via your company
There’s a lot to be said for making a charitable donation or sponsoring a local event via your company. But how are such outgoings treated for tax purposes?
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Company parties and events – the £150/head expenses exemption
If a company organises an annual event party for its employees, it may be eligible to claim tax relief on the costs as long as several conditions are met.
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What are ‘trivial benefits’ and how are they treated for tax purposes?
What exactly are trivial benefits and is there a limit to how much they can cost before being considered a taxable benefit? Guide for company directors.
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Landline, mobile and smartphone expenses
If you use your phone for business, you may be able to offset the cost against your company’s tax bill. Guide to landline, mobile and smartphone expenses.
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The tax treatment of medical and health expenses
What medical and health related expenses can your limited company offset against its corporation tax bill? Which costs are not allowable?
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Can you claim the cost of work clothes on expenses?
If you are a limited company director, can you claim work clothes as an expense against your company’s corporation tax bill?
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Claiming back pre-formation costs from your company
Startup costs can quickly add up and are often paid for personally. Can you reclaim these expenses back once your limited company has been formed?
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Tax treatment of company hardware and software expenses
Computer hardware and software are two essential expenses for any modern business and costs can run into the thousands, but what can you legitimately claim for on your annual tax return? And how does HMRC differentiate a genuine business expense from one that benefits both the business and the individual?
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The tax treatment of professional subscriptions
Joining a trade association can help to keep you up to date with industry news, to find contacts, or source work. Are memberships fees tax deductible?