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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.
18 Nov 2019
Dividend payments made by the world's biggest companies to their shareholders have grown for the tenth year in a row, according to research from asset management company Janus Henderson.
15 Nov 2019
UK taxes are at a historical high, accounting for over a third of GDP at 34.4% and up almost seven percentage points from the 1950s, according to a new Institute for Fiscal Studies (IFS) report.
14 Nov 2019
Pension scam victims could lose 22 years of savings in 24 hours, according to the Pensions Regulator (TPR) and the Financial Conduct Authority (FCA).
13 Nov 2019
Next year's expansion of the off-payroll rules into the private sector should be delayed, according to the Federation of Small Businesses (FSB).