Use of the home for business to reduce tax.
Use of the home as a business expense is a very important expense that can save tax. This is very confusing to most business owners. Some business owners are of the opinion that they can claim all expenses that relate to their house while running their business. Expenses such as my mortgage, my electricity, my […]
What Landlord Ought To Know About Rental income in UK.
Landlords receive rental income from renting out properties in the UK. The landlord has to pay income tax on the profit from the rental income. This affects both residents and non-residents of the UK. What to do if you start receiving Rental Income from a UK property? The first step is to disclose this to […]
Giving to charity, Giving should not be so tasking.
YOU NEED TO READ THIS BEFORE REGISTERING YOUR CHARITY. Charity registration can be a very daunting process. A lot of organizations are set up for the purpose of giving and supporting a need or a cause. WHEN TO REGISTER In the UK, a lot of charities usually have common causes and for administrative reasons. The […]
Entertainment in business
Entertainment in business Most businesses do give gifts to their employees and provide entertainment to their clients. I have explained in the blog, The tax consequence of doing this. Here is the issue with business entertainment: Entertainment in business is an allowable accounting expense when it relates to the business, however, could be disallowable […]
Saying goodbye can be difficult
Employers in UK, Sometimes, some business owners have to make hard decisions to say goodbye to their hard-working employees (or not-so-hardworking ones). This is a challenging time for both parties and getting the termination payment right is very important. This month I want to highlight the changes that the HMRC plans to put in place […]
VAT ON COMPANY CARS
Tax planning advice for when buying your new business cars. Having tax planning advice before acquiring new business cars is important. When cars are bought in the UK, VAt will be applicable to the car. Even when the business owner is VAT registered, they are unable to claim VAT from the revenue. Having savings on […]