Articles tagged with: income tax
getting things done, routine »
It’s long been a policy of ours that all employee expense claims (and directors’ expense claims) should be supported by receipts, proving that the relevant expenditure has taken place, and that the employee’s claim is for a legitimate business expense. That’s set out in our guide:
Claiming back expenses from your own Limited Company
We don’t need to see every receipt from Pret a Manger for £2.99 sandwiches, but we want the reassurance that you the client make a point of keeping your staff (and yourself) within the rules.
So, here is something …
Apply for a reduction
You can pay less tax! The self employed normally have to pay their income tax in two 50% instalments on 31 January and 31 July every year. The system is not perfect and is based on information that’s almost two years old. If you’ve had worse results than normal over the past twelve months or so, your tax bill should be less. So, why pay more?
You can apply for a reduced payment on account. In the right circumstances, that can mean a reduction to NIL.
Is that …