by Lisa Dickson | Mar 15, 2015 | Bookkeeping 101, Business Advice, HMRC and tax, Small Business Accounts
Updated 2023/24 It is simply an account in the balance sheet that summarises the transactions between a company director and the company. In simple terms: An asset is created where the company loans money to the director to be repaid at a later date. A liability is...
by Lisa Dickson | Mar 15, 2015 | Bookkeeping 101, Business Advice, Small Business Accounts
Travel subsistence is often a very grey area within HMRCs rules and regulations so it is important to understand exactly what you can reclaim without incurring a tax penalty. These should be carried out in the same manner as any other expense claim which means this...
by Lisa Dickson | Mar 15, 2015 | Bookkeeping 101, Business Advice, Small Business Accounts
Many banks will set you up with a company credit card when you set up your business bank account, others will make you wait until you have been in business long enough to establish a credit record before allowing you to apply for business credit cards. They can be a...
by Lisa Dickson | Apr 10, 2014 | Business Advice, HMRC and tax
As we have already mentioned in our earlier article, it is possible for directors to claim a work from home allowance under HMRC rules. This allows the director to reclaim an element of the running costs of the work from home office space. Unlike the self-employed,...
by Lisa Dickson | Dec 12, 2013 | Bookkeeping 101, Business Advice, HMRC and tax
As a director working from home, you may be allowed to reclaim reasonable ‘work from home’ expenses from your company. Flat rate basis HMRC allows you to reclaim a flat rate per month, depending on the number of hours a month you would typically work from...
by Lisa Dickson | Dec 11, 2013 | Business Advice, HMRC and tax
When you or your employees spend your own money on behalf of your company, you want the ability to claim it back quickly and efficiently. Tips for effective expense claims management: Always keep a copy of your receipt, no matter how small. The pennies could soon turn...
