Allowable Expenses through your Limited Company

Thank you for watching our latest video, aimed at enhancing your financial literacy and provide you with the knowledge to make informed decisions about both your company and personal finances. Please leave a comment below if you have any questions and in particular, if there any company or personal finance related topics you would like us to cover in the future.

What about working from home mortgage and bill deductibles via charging the company rent??

you pay less corp tax if you claim expenses but your profits show lower at 64k where as if you dont your table shows the company will be at a profit of 81k? would this not be better if you are wanting to build your business say for commercial lending etc?

What about legal fees incurred on the acquisition of a business?

I think they are keeping the tax as 19% now and not dropping it down to 17% . Is that correct?

Excellent video, this is nice to see claiming expenses in a table

Clothing is allowed for safety workwear like overalls

Should be able to claim exactly the same as MP s claim but alas no one rule for them and another for us

boss im a new business i was trading as a sole trader but I registered it in LTD WITH COMPANY HOUSE PLEASE contact me I need help.thank you looking forward to speaking with you.

Thank you Aidhan

Basically, if you live in the UK, you will be poor. Guaranteed.

Hi Tony, thanks for your posts. Couldnt find any video on accommodation, can you share the link or more details please? thanks

Hey, I work from home, and work 16 hours a day on a PC, can I claim for electricity bills? Can I claim rent?

HMRC are never going to challenge you on what you have put down as a business expense....they don't have the time or resources...

With 'wholly and exclusively' does it take into account the marginal expense?

For example; if I'm a small business owner who needs to work from home, and thus I need a larger property with a study - is it acceptable to claim on a portion of a value of the expense on the mortgage / rent? Given that, although the whole property isn't wholly and exclusively for the business, the additional requirement in space and thus expense is wholly and exclusively for the business.

Hello, I have a small restaurant and we do food delivery. Can I claim the petrol from the delivery service as allowable expenses? Thank you in advance.