Know Your Expenses – What Can I Claim For?
If you’re self-employed, then it’s incredibly important to know your expenses when it comes to filing your annual taxes. Naturally as a business you will have various running costs that need to be accounted for, but there are some that are allowable expenses. These can be deducted from your business income to calculate your taxable […]
Use of Home as an Office is an allowable business expense
There has been a big increase in people becoming self-employed in the past couple of years. A lot of start-ups have begun in bedrooms and study rooms. Successful businesses are still being carried out at home after several years of trading. H M Revenue & Customs provides an entitlement for those that do not rent […]
Debit & Credit
It is not surprising when small to medium sized business owners query about Debits and Credits and the whole system of double entry bookkeeping, but it is a shock when you ask an accountant and they can’t explain it, although most of us accountants use the system day in day out. I would like to […]
