As anyone who has started their own business knows, it can be a costly exercise with a range of expenses to absorb before you’re officially
Limited Company Expenses
You can offset any legitimate business expenses you incur against your company’s Corporation Tax bill. But the rules are complicated. Here are our most popular guides.
- Limited Company Expenses List – the main allowable expenses.
- Capital Allowances – how to offset capital costs against tax.
- Company car tax – buy a car, or use your own and reclaim costs?
- Pre-Formation Costs – from before you started the business.
- Telephony Expenses – tax treatment of phones and broadband.
- Health Expenses – medical costs, gym, annual check, insurance.
- Computer Costs – hardware and software expenses.
- Subscriptions – memberships to professional organisations.
- Charitable Expenses – giving to charity and sponsorship-type costs.
- 24 Month Travel Rule – important info if you’re a professional contractor.
There are many types of expenditure you will incur whilst running a limited company, however which expenses can you legitimately claim against your company’s tax
One rule that is highly relevant to a limited company contractors in particular is the 24-month travel expenses rule. At a glance, it all seems pretty straightforward but when it comes to HMRC and allowable expenses, nothing is ever quite that simple.
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
Since the introduction of new rules in April 2016, employers can now provide so-called ‘trivial benefits’ to employees without having to declare these to HMRC.
Regardless which sector or industry you work in, everybody has version of a ‘work wardrobe’, whether this is a version of their everyday look, a