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This popular guide answers one of the most frequently asked tax planning questions: “What can I get my company to pay for?”
Putting It Through the Company examines the rules for dozens of different business expenses.
The guide is essential reading for ALL company owners, including owners of property investment companies.
The focus is on some of the less obvious tax deductions, such as getting your company to buy you an electric car, putting some of your household costs through the company when you work from home, and over 30 tax-efficient perks that can be enjoyed by you and your employees.
In many cases it’s possible to score a Tax Triple Win, with the expense enjoying corporation tax relief, VAT relief and no tax payable by you the company owner.
The author, Carl Bayley FCA, began his career as a chartered accountant over 40 years ago and is a former chairman of the tax faculty at the Institute of Chartered Accountants in England and Wales (ICAEW).
Some of the subjects covered include:
A plain English explanation of the rule that lies at the heart of nearly all business deductions.
The similar but different rules for recovering VAT on company expenses
Directors expenses (travel and subsistence, entertainment, fees and subscriptions, home office costs etc)
The most tax-efficient way to pay yourself salary, dividends, and other income this year
Employing your children and other family members
Over 30 tax-efficient benefits the company can provide to you and your employees
Tax relief for capital spending on equipment, computers, furniture, you name it.
Motoring costs – the tax savings are astounding for company vans and electric cars
What you can claim if you work from home
Property costs you can put through the company
Plus lots and lots more: things like waiting room sofas, TVs, vacuum cleaners, fridges, coffee machines, advertising and sponsorship, website and internet costs…
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