Allowable Expenses and Deductions

When you provide expenses, benefits, or perks to your employees—such as bonuses, company cars, accommodation, or reimbursements for business costs—these have Corporation Tax implications for your company. Understanding what you can claim as a business expense, what needs to be...

8 min read

If you're a company director and you borrow money from your own company, there can be significant tax consequences for both you personally and your business. When a director's loan isn't repaid within nine months of your company's year end, your company may need to pay Corpora...

5 min read

Understanding the difference between trading and non-trading income is essential for calculating your company's Corporation Tax correctly. These two types of income are taxed in the same way, but they're treated differently when it comes to claiming reliefs, carrying forward l...

4 min read

When running a business or managing rental property, the expenses you incur fall into two distinct categories: capital expenditure and revenue expenditure. Understanding the difference matters because revenue expenditure can usually be deducted from your profits immediately to...

5 min read

When you run a limited company, you can deduct many of your business costs from your profit before paying Corporation Tax. These are called allowable expenses or revenue expenses, and understanding what you can and cannot claim will help reduce your company's tax bill. This gu...

5 min read