What Your Self Assessment Should IncludeAccurate reporting ensures compliance and avoids penalties. Income to Include Allowable Deductions
Limited companies can reimburse certain professional fees and membership subscriptions incurred by directors or employees, provided they meet specific HMRC criteria. Key conditions include: The fee or subscription must relate directly to the individual’s profession or role within the business. It must be paid to a recognised professional body included on HMRC’s official List 3 […]
When directors or employees carry out work duties from home, limited companies can reimburse part of the household expenses incurred as a result of business use. There are 2 main methods for reimbursing home-working expenses: Flat Rate Method: HMRC allows a company to reimburse up to £6 per week (or £26 per month) without needing […]