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Tel: 01908 566362
We offer a range of high quality accounting, financial and business services in and around Milton Keynes.
B2B Business Advisors Limited can provide assistance to self-employed people in the Milton Keynes area on allowable expenses and other tax and financial issues...
We are often asked: "What expenses can I claim now that I am self employed?".
The rather glib answer is "Anything that relates to your business". Whilst this is generally true, there are some expenses which, although genuine business expenses, are specifically excluded from tax relief, such as:
Expenditure on plant and machinery for most small businesses is likely to be covered by the annual investment allowance of up to £1 million.
April 2013 saw the introduction of a new cash basis for calculating taxable income for small unincorporated businesses. One of the measures allows any unincorporated business to choose to use flat rate expenses for the following items of business expenditure:
This information is not exhaustive. Please contact us if you have any queries about the allowability of specific expenses.
If you are self-employed in the Milton Keynes area and would like advice on claiming allowable expenses, contact B2B Business Advisors Limited.
Why not register to receive our monthly newswire? This is packed full of essential business news and handy tax tips to help save you money.
Our handy tax calendar provides an overview of the key tax dates for your diary.
B2B’s interactive tax calculators can be used to calculate VAT due, the taxable benefits on your company car and how much your savings are worth.
Keep up to date on the latest from the world of business and tax with our daily news stories.
17 Jan 2020
In a new report, the World Economic Forum (WEF) has stated that businesses must take action now to tackle climate change.
16 Jan 2020
HMRC has issued guidance on recognising genuine Revenue contact and phishing emails.
15 Jan 2020
According to a study carried out by the Trades Union Congress (TUC), UK average household debt is now higher than during the 2008 financial crisis.
14 Jan 2020
The UK's GDP fell by 0.3% during November as political uncertainty continued to take its toll on the economy, according to the latest data from the Office for National Statistics (ONS).