Category Archives: Tax

Add Ons, Tax, Vehicles, Xero

Can I claim through my business for using my own car?

Posted on by Sharon Baker
tripcatcher
11
Jun

You’re using your own vehicle for your business, but what can you claim? It is common to use your own vehicle for your business, or for your employment, but do you know what you can claim and how to claim? Let’s go through some common questions: 1. Can I put fuel and running costs for […]

Continue reading →
Personal Tax, Self Assessment, Tax

How we can assist with a tax investigation from HMRC

Posted on by kp-admin
tax insurance
02
Mar

What Happens If HMRC Opens an Enquiry Into Your Tax Affairs? If HMRC opened an enquiry into your tax affairs tomorrow… what would you do? Most people assume tax investigations only happen when something’s gone wrong. The reality? They can happen to anyone: individuals or businesses, even when everything is done properly. This isn’t about […]

Continue reading →
CashFlow, Tax

Does Depreciation Reduce My Tax Bill?

Posted on by Sharon Baker
18
Apr

One of the most common questions after talking about depreciation is: “If I’m recording depreciation in my accounts, does that help lower my tax bill?” This usually follows our discussions with you around depreciation, and what it’s all about. The short answer is: depreciation doesn’t directly reduce your tax, but there’s a connection. Here’s what […]

Continue reading →
Making Tax Digital, Self Assessment, Tax, VAT

MTD for income tax, how it affects sole traders and landlords

Posted on by Sharon Baker
14
Mar

Making Tax Digital for Income Tax: What You Need to Know The way small businesses and landlords manage their tax obligations is changing. TD;LR: download our handy MTD Guide now! From April 2026, Making Tax Digital for Income Tax (MTD for IT) will come into effect, impacting sole traders and landlords with a total business […]

Continue reading →
Personal Tax, Tax, Vehicles

Should I buy an electric car through my business?

Posted on by Sharon Baker
should I buy an electric car through my business?
29
Mar

If you’ve seen our earlier blog on buying cars through your business, our answer is usually NO you shouldn’t buy a car through your business! However, new rules for electric cars came into force in April 2020, making buying an electric car through your business far more attractive! So to understand the current rules around […]

Continue reading →
Tax, Vehicles

Should I buy a car through my limited company

Posted on by kp-admin
22
Mar

Buying a car through your company will always* create a personal tax charge for you and a national insurance charge for your company. This is because HMRC expect you to have private use of your car, so you are seen to be receiving a benefit in kind that any other employee would not be entitled […]

Continue reading →