TLC Loves… Keeping mobile costs in check while abroad
21st May 2019
TLC loves saving you money while you’re on holiday. Here are some quick tips for stopping mobile phone charges racking up quicker than empty glasses at an all-inclusive bar
TLC loves… keeping you up to date about pensions
18th February 2019
If you provide a workplace pension it’s important to keep up to date with your obligations about how much you need to contribute, and things are about to change. But don’t worry, as always, we’ve got you covered. What’s the deal? When automatic enrolment to workplace pensions was introduced, the Government scaled the level of […]
TLC Loves… tax breaks for trivial benefits
17th January 2019
There’s a little-known way to reward directors and employees with vouchers that we discuss at our year-end meetings, known as trivial benefits. It’s effectively a way to reward directors and employees without them being taxed for it, so it’s a tax-efficient thing to do – and it’s also nice to treat people who work hard! […]
TLC Loves… getting a tax break on decorating and furnishing your home office
24th July 2018
Many of our clients work from home offices and will be used to filling in our use-of-home spreadsheet which adds up the overheads such as heating and lighting that you can claim a proportion of against corporation tax. But did you know that you can also claim expenses against your tax liabilities for furnishing your […]
TLC Loves… making the right choice about your car
27th June 2018
Updated – June 2018 Almost every business owner needs one, but it can be really difficult to figure out whether your car should belong to the company or to you personally. As always we’re here to help, so here’s our simple guide to understanding the rules around business mileage and company cars. Generally speaking, as […]
TLC Loves… Making Tax Digital
18th June 2018
Ok, so it’s probably not technically possible to love Making Tax Digital, but we do love the idea of using software to make accounting easier and knowing more about how much tax you owe sooner. The bit about Making Tax Digital that’s not so easy to love is the new requirement for quarterly reporting which […]
TLC Loves… maybe there is such a thing as a free lunch!
16th April 2018
Many self-employed, contractors and business owners know about subsistence – the name for what you can claim when eating and drinking at the company’s expense, but do you really know what you can legitimately claim? Here’s a quick and easy guide to when it’s a free lunch, and when you have to pick up the […]
TLC Loves: Bank of Mum and Dad – when you can legitimately pay your children
14th March 2018
If you employ your adult children in your business it’s important to stay the right side of the legal line when it comes to what and how they are paid. A recent tax tribunal ruled against a company director who had been effectively paying his adult son’s allowance and claiming it as a business expense. […]
How to tell the difference between subsistence and entertaining
5th February 2018
It can be hard to figure out what is legitimately subsistence and what is entertaining, but it’s important to know as HMRC treats the two very differently. This month’s tips are about how to accurately claim legitimate business expenses around food and drink. 1 – You can claim entertaining employees as an expense, but not […]
Top tips for getting your 2018 off to a flying start
24th January 2018
It’s almost a New Year – how did that happen?! We hope you’re enjoying a lovely break with your nearest and dearest. Given it’s a natural time to think about fresh starts, here are three simple things you can do to get your business in good order to have a brilliant 2018. Update your LinkedIn […]