I have just signed up a client who has a limited company which he set up over a year ago although he did not start trading until the current tax tax. From previous posts you will be aware that one of my recommendations for the biggest tax saving opportunities read more
It might seem fairly obvious that you can claim any expenses associated with the business, but it is not always quite that straightforward, and you might be missing some. The Revenue rules are that the expense must be
wholly and exclusively
for the purpose of the trade. read more
For partnerships and the self employed there is no laid down rule for claiming motor expenses, it is up to the taxpayer to decide whether to claim for tax purposes a proportion of their motoring costs, or the Revenue authorised mileage rate. Obviously you want to claim the maximum tax relief and it pays spend some time looking at which will be most beneficial for you. read more