The normal way to claim expenses when overseas is to record your actual travelling expenses (including flights, taxis, accommodation and meals). You have to be disciplined and convert any foreign currency payments into Sterling for the actual transaction date....
Here is a list of certain expenses that aren’t tax deductible – but which regularly get claimed, or questioned, by clients: Clothing Unless it’s protective clothing, or a uniform, clothing is not tax deductible. Spectacles Eye tests are claimable for workers using...
This is a common difficulty when calculating net rental property income and you should really seek advice. It depends on what the expenses were and when they were incurred. You can claim for maintenance and repairs/renewals. Repairing or replacing should be...
This is a question that crops up now and again from clients who perform some of their business activities at home. Generally speaking, if the room used for the business is also sometimes used as part of the home (e.g. as a guest room, or for watching...
There are some common expenses that business owners mistakenly try to claim for but which aren’t actually tax deductible. The most common ones claimed in error are: clothing – which is only acceptable in very specific situations, spectacles – only acceptable in...
The basic 24 month rule applies – if you are an employee or director and work, or know you will work, at a temporary workplace for 40% plus of your working hours for over 24 months – you are caught by the ‘24 month rule’ and can no longer get tax relief on...
