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Business Expenses

Guides to some of the most commonly claimed company expenses. Always check with your accountant if you have any questions related to expense claims.

Start with our summary of the limited company expenses you can claim.

Limited company expenses – what can you claim for? post image

When running a limited company, you will incur a wide number of expenses during the course of your work, ranging from printing and postage costs, to purchasing computer equipment.
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We look at the tax treatment of entertaining clients and employees – including the rules governing staff parties, and taking potential clients out for lunch.
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Most company directors will be pleased to hear that they can legitimately claim for the costs of an annual party for employees and partners, as long as a number of conditions are met.
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These days, you’d be hard-pushed to find a business which doesn’t rely on broadband to some degree – it’s a ubiquitous product which has changed the way many of us run our businesses. Here we consider the circumstances under which business broadband costs can be offset against your company’s tax bill.
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A frequently asked question by company directors is which pre-company formation costs can be claimed back once the company has been incorporated?
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If you’re self-employed, you can claim for a wide range of expenses against your tax bill, although you have to be careful to only apportion costs which have been genuinely incurred in the running of your business.
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As a limited company owner, what health-related costs (such as medical insurance, eye tests, gym memberships and private health checks) are allowable for tax purposes against your company?
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If you’re self-employed (a sole trader) in the UK and carry out some of your work from your own home, then there’s good news for you: you’re likely entitled to include part of the running costs of your home in your accounts.
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If you purchase an asset through your company (such as a new PC), the cost of the asset is written off over a period of time, unlike a business expense. So, how are capital assets treated in the company accounts?, and what are capital allowances used for?
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Most limited companies and self-employed people have some type of insurance cover in place. In this article, we look at which business insurance expenses can be legitimately claimed against your firm’s profits.
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Many small companies, including those providing professional services to clients, perform a lot of work from home. One of the most frequently asked questions by directors is what expenses can you legitimately claim back against your company?
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Your are bound to incur a variety of travel-related costs as a limited company owner. Most of these costs can be paid by, or claimed back from, your company.
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Here is Company Bug’s overview of the business expenses can you claim back if you are working via an umbrella company scheme, including a look at what expenses dispensations are.
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In this brief article, we look at how professional fees, such as accountancy and legal expenses are treated for tax purposes.
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If you decide to buy a company car, and use it for personal as well as business reasons, then you will be liable for a tax charge for the privilege. The amount of the benefit in kind depends on a number of factors.
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In this guide, we look at how mobile phones are treated for tax purposes, including a recently announced change of tax status for ‘smartphones’, which are no longer treated as a Benefit In Kind.
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If you provide professional services via a limited company (most typically as an IT contractor), and your contracts are caught by the IR35 rules, what expenses can your company claim against tax?
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If you have to travel to a temporary place of work for business purposes, you can usually claim back the costs of travel. However, the 24-month rule exists to prevent travel reimbursements when HMRC deems a workplace to no longer be ‘temporary’ in nature.
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