Category: Expenses

Accountancy tip #1 Mileage and expenses

Tip of the day #1: everytime you make a business journey, keep track of the mileage. Each mile reduces your taxable income by 45p meaning you will ultimately keep more of the income you have worked hard for! Call LeeP for more tax efficient advice 01733 699033

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Handy Guide to Allowable Business Expenses for Soletraders

Most people will know that certain costs can be expensed against your sole-trading revenue or income to reduce taxable profits and ultimately reduce your tax liability and help you save tax. Here is a helpful guide to allowable business expenses that HMRC will normally allow. The Inspector of Taxes (HMRC) will allow revenue expenditure as…

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