The rules for allowable business expenses are generally similar for limited and unlimited companies, with some subtle exceptions. Where there are differences – these are identified in the guide below.
- Networking costs are part of your overall marketing expenses. These are often paid for in cash so don’t forget to ask for the receipt so you can claim your costs back.
- If you are hosting a networking event, then these costs are also allowed.
- Buying a new set of golf clubs (unless you are a golf instructor) or a new suit for networking fails the duality of purpose rule and are not allowed.
We hope you find this series on expenses helpful. Please take a moment to check out our other articles.