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Allowable Expenses

Allowable Expenses

For the self-employed, the broad rule is that expenses are allowable if they are ‘wholly and exclusively’ incurred for the purpose of your business. Some expenses, such as your phone contract, which may include both personal and business calls, don’t seem to meet this...
Do you really need a company?

Do you really need a company?

When people are running a business, they often think they need to form a company. In fact there’s nothing wrong with running your business as either a self-employed individual, or a partnership if there is more than one of you. Some very large businesses, for...
Give yourself a (tax) free gift

Give yourself a (tax) free gift

There is an exemption from tax and National Insurance for benefits with a value up to £50 each provided to employees and directors. There is no limit to the number of benefits which can be given to an employee, but there is a limit of £300 per year for directors or...