The Top 20 Expenses You CAN Claim for
Below is a list of 20 expenses which your business could potentially claim against tax:
1) Annual parties – up to £150 per employee but conditions must be met.
2) Long service and suggestion scheme awards for employees.
3) Company mobile phones for employees.
4) The provision of car or motorcycle parking space at or near the employees’ place of work.
5) Reimbursement of business miles completed in a personal car, the first 10,000 miles at 45p, 25p on any excess.
6) Additional allowances for carrying other employees on business trips.
7) £4 per week business use of home.
8) Interest element of any finance.
9) Pension contributions to an appropriate pension scheme.
10) Business branded clothing.
11) Travel and subsistence – including trips abroad.
12) Sponsorship as a form of advertising.
13) Computer software (including Xero).
14) Relevant training courses.
15) Professional subscriptions.
16) Specialist clothing relating to employment duties.
18) Bad debts.
20) Flat rate expenses depending on your type of business.
The above is just an example of expenses that your business can claim. There are of course conditions that need to be met to ensure the expenditure does qualify but if any of the above is relevant contact MATCH and we will keep you tax efficient but also on the right side of the rules.