10 Top Tax Deductions for your property Limited Company business. Applies to all companies really.. скачать в хорошем качестве

10 Top Tax Deductions for your property Limited Company business. Applies to all companies really..

Mark and Neil run through 10 costs you can put through your Limited Company…..which also applies to almost any other type of business too! 1. Pension Contributions (up to annual allowance of £60k ) and Advice (up to £500) 2. Transport and Travel when on business 3. Mobile Phone - The exemption covers the telephone itself, any line rental and the cost of private calls paid for by the employer on that telephone. The exemption is limited to one mobile phone per employee. Phones supplied to family members do not qualify. The contract must be in the company name and must pay the bills directly and private use must not be significant 4. Health checks. The company can pay for one health screening and one medical check up per year. To be eligible for the tax exemption health screenings must be available to all employees. NB: this is not medical treatment itself. This includes an annual eye test and glasses for display screen equipment. Employers are obliged to pay for an eye test if an employee asks for one and uses display screen equipment at work. Display screen equipment includes pcs, laptops, tablets, smartphones etc. Employers must also pay for glasses if an employee needs special glasses prescribed for the distance the screen is viewed at. 5. Life Insurance for employees 6. Working From Home allowance e.g. £6 per week flat rate, per employee, if you work from home. Other ways to calculate it but this is an easy expense to push through the business 7. Training e.g. expensive property training courses! Can be tax free so long as this is a continuation of previous training and is relevant to your role 8. Long Service Award. The cost of the award must not be more than £50 for each year of service and you must have been an employee for at least 20 years. So an award given just after 20 years of service (the minimum period) cannot cost more than £1,000. If it costs more, it is only the excess that is taxable. You then have to wait 10 years before making the next award. 9. Annual party or events. An allowance of up to £150 per employee. But must be available to all employees and not a penny over £150 (inc VAT!) or it is all taxable! The cost per head is calculated by dividing the total cost of the event by the number of people attending. You could have 2 annual events at £75 per person and this would be covered by the exemption. 10. Trivial benefits up to £50 each. But, there’s a cap for Directors of small companies of £300 p.a. Cannot be cash or alcohol and cannot be for employment services or in your contract of employment. Music from #Uppbeat (free for Creators!): https://uppbeat.io/t/sensho/good-times License code: ACXPT3JXBLXZ2D9N