Having a company car is often considered the epitome of being a businessperson, and, as times are beginning to favour a more environmentally friendly mode of transport, an electric company car is at the top of many wish lists. But what are the benefits of having an electric company car, if any? And what can you claim as a business expense? What’s your role in the business? The benefits of having an electric company car […]
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There are a number of day-to-day running costs associated with owning a business, but did you know if you’re self-employed you can deduct some of these costs if they are considered allowable expenses? Once these costs have been deducted, you can work out your taxable profit. For example, if you turn over £50,000 each year and you claim £15,000 in allowable expenses you will only pay tax on the £35,000 that remains. This is what people […]
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Making the decision between becoming a limited company or a sole trader is one that shouldn’t be taken lightly. If you are in this situation, you should seek expert advice and think carefully. All too often, people are faced with a VAT threshold of £85k turnover and automatically assume they ought to become a limited company. This is not always the case! So, before you jump to a conclusion you may regret, let us share some […]
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KEW Accountants and Tax Specialists Ltd
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Shropshire
TF3 3BA
t: 01952 216872
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