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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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If like many business owners you find the tax and financial aspects of your businesses daunting, then this lunch and learn session is for you! Whether you are a brand new sole trader or you run an established limited company, this session should help to dispel the myths and answer those questions you’ve always wondered about to help
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As a proactive accountancy firm we are constantly looking for ways we can improve the service we offer our customers. And we are proud to announce the launch of our brand new CARDENS ACCOUNTANTS App. It’s completely free of charge to download and it’s now available for iPhone, iPad and Android devices.
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