Travelling to and from client sites or temporary workplaces can be claimed:
Expense claims can be made against air, train, bus, taxi and sea going travel fares provided that they are incurred in the course of performing work.
The cost of being away from home while on business is tax deductible but all costs must be reasonable. Original receipts must be available to support expense claims.
HMRC operate a live to eat scheme, which means that meal cost incurred while working away from a normal place of work are tax deductible expenses. ALL RECEIPTS MUST BE KEPT unless you have set up a dispensation with HMRC.
If you work from home then it may be possible to offset certain expenses. These would need to be calculated on a room basis and time apportionment basis, e.g. one room in a house of eight rooms, and five out of seven days a week. These bills would then be calculated to equate for this percentage. Examples of these expenses include:
If you are a member of a professional body, which relates to the trade, your annual subscription is allowable, along with any continuing professional development to maintain the membership.
Training costs are an allowable expense providing that the course and its contents are skills that are wholly applicable and required to function and perform duties. Original receipts must be presented to support training claims.
This is classed as an allowable expense providing they are wholly applicable to the environment and the duties performed. For instance if you were to buy an ordinary shirt then you cannot claim this as an expense because it could be worn for other occasions. However if you are to buy a shirt that has your business name on then this could be classed as an expense. This would also include hi-vis wear, safety boots etc.
If you wish to have a mobile phone for your limited company then it would need to be on a separate contract than your personal phone, and the contract would need to be in the company name.
All our clients have been appointed with a dedicated Client Accountant, who is their main point of contact and will be able to provide you with further advice on Expenses.