Discuss Things you can claim for on tax returns in the Electrical Forum area at ElectriciansForums.net

Welcome to ElectriciansForums.net - The American Electrical Advice Forum
Head straight to the main forums to chat by click here:   American Electrical Advice Forum

Gavin John Hyde

-
Esteemed
Arms
Patron
Reaction score
5,173
Just been discussing what you can and can not claim for on your taxes with a customer whose house i was at this morning.
Hes a retired book keeper and it came about because of a article in the daily mail he read today.
It makes interesting reading, obviously check with your accountant but it seems if you are a one man band as a ltd company then you can spend £150 per year on entertainment at no tax cost to your self..
Likewise explains about claiming for phones and even claiming on your gym membership.
If done correctly these can make a good saving over the year.
How to claim the new iPhone against your tax bill | Daily Mail Online - http://www.dailymail.co.uk/money/smallbusiness/article-4895248/How-claim-new-iPhone-against-tax-bill.html

Speak to your accountant come your tax returns and see what you can claim is my advice.

i have emailed mine regarding gym membership costs, and will be discussing a holiday to cape town in the new year where a friend is installing solar panels on his house and i'm going to help whilst there :)
 
I will discuss this with my accountant next week.

A couple of years ago I asked him if he could apply off shore tax rates too my income - he politely, and firmly said no
 
I did some work a couple of years ago on a holiday flat in Gibraltar.
I rode my bike from London across Spain to Gibraltar.
I claimed all my travel costs, accommodation and subsistence.
Customer paid for my ferry crossings and for my days work, stayed in the flat for a week for free.
 
I did some work a couple of years ago on a holiday flat in Gibraltar.
I rode my bike from London across Spain to Gibraltar.
I claimed all my travel costs, accommodation and subsistence.
Customer paid for my ferry crossings and for my days work, stayed in the flat for a week for free.

Bet you didn't do all that distance on that bike in your avatar! Not without some more padding anyway :)
 
LTD Co in IT, I used to claim for travel to and from work, breakfast and lunch I also claimed for the errrr £1000 bike that I rode to the station to catch the tube which errrr got stolen then 2 years later I bought another bike........

But one day I was out and about at Christmas time and phoned my accountant and asked him could I claim the money back for a Christmas Tree, he said if it is used 100% for business use then I can, odd that my office was in my house so it was 100% kosher.

;o))))

You'll surprised what you can get away with, stock up on postage stamps as Christmas is coming...... and before the financial year is out make sure your laptop/printer/phone is up to date.
 
Oh and I am allowed to spend £125 on a Christmas party so myself and the OH go out for dinner......
 
The £150 per employee, you’ve either got an extra £25 or you are both going to have incredibly sore heads this year with £175 extra.

Don’t forget to have an AGM somewhere warm too :)

Oh and I am allowed to spend £125 on a Christmas party so myself and the OH go out for dinner......
 
Oh and I am allowed to spend £125 on a Christmas party so myself and the OH go out for dinner......
I was talking to a plumber friend about this and what he does is buy a pile of gift vouchers for restaurants or supermarkets upto the £150 and then he gives them to himself as the sole employee for his own use as entertainment at xmas. Its all squared off with his accountant, he does the whole christmas food shop out of money that would otherwise go to the taxman and has money for a meal out with the missus.. Ho Ho Ho:santa::christmastree::partypooper::tearsofjoy:
 
I was talking to a plumber friend about this and what he does is buy a pile of gift vouchers for restaurants or supermarkets upto the £150 and then he gives them to himself as the sole employee for his own use as entertainment at xmas. Its all squared off with his accountant, he does the whole christmas food shop out of money that would otherwise go to the taxman and has money for a meal out with the missus.. Ho Ho Ho:santa::christmastree::partypooper::tearsofjoy:

Not sure I agree with that.

He's certainly saved tax and NI on the £150 - but not the lot!
 

Reply to Things you can claim for on tax returns in the Electrical Forum area at ElectriciansForums.net

OFFICIAL SPONSORS

Electrical Goods - Electrical Tools - Brand Names Electrician Courses Green Electrical Goods PCB Way Electrical Goods - Electrical Tools - Brand Names Pushfit Wire Connectors Electric Underfloor Heating Electrician Courses
These Official Forum Sponsors May Provide Discounts to Regular Forum Members - If you would like to sponsor us then CLICK HERE and post a thread with who you are, and we'll send you some stats etc

Electrical Forum

Welcome to the Electrical Forum at ElectriciansForums.net. The friendliest electrical forum online. General electrical questions and answers can be found in the electrical forum.
This website was designed, optimised and is hosted by Untold Media. Operating under the name Untold Media since 2001.
Back
Top
AdBlock Detected

We get it, advertisements are annoying!

Sure, ad-blocking software does a great job at blocking ads, but it also blocks useful features of our website. For the best site experience please disable your AdBlocker.

I've Disabled AdBlock