7 business expenses that could get you in trouble with the revenue

Business expenses

It’s no hidden truth that business expenses are essential for running a business. This could be any payment made by purchasing business items, paying for your website, or paying for employees’ wages. Can you claim tax relief on all your business expenses? All business expenses can be deducted as an accounting expense in accounts however it’s […]

SETTING UP A NEW BUSINESS AS A LIMITED COMPANY.

Setting up a business

Setting up a limited company in the UK,& things that you need to know. Starting something new can be very daunting process to anyone. The reason why most people are nervous about having a limited company is because of all the compliance issues involved. Also, most people have heard about daunting stories from penalties that […]

IS YOUR EXPENDITURE A CAPITAL OR REVENUE EXPENDITURE?

The nature of the expenditure that is spent in business is very important. The reason for this is that it determines the accounting and tax treatment. Most times we do not have a choice because we do need to acquire them to help our business growth. In this blog post, I would like to explain […]

CLAIMING EXPENSES, REDUCING TAX AND NATIONAL INSURANCE!

Claiming Business Expenses

Claiming the right expenses are a crucial part of running a business. This is because claiming the right expenditure will result in tax relief claimed in the tax year. Therefore reducing the income tax, corporation tax and national insurance paid by the taxpayers. Why is claiming the right expenses important? The consequence of not claiming expenses or […]