1st July 2019
Limited companies can donate money to charities and claim the corporation tax back on the value of the donation. Sponsorship of a charity or community sports […]
Limited companies can donate money to charities and claim the corporation tax back on the value of the donation. Sponsorship of a charity or community sports association is different to a donation, but can also be claimed. If you are donating to charity in return for something (eg a raffle, or for tickets to an event), you can only claim a percentage of the donation back (25% of the donation up to £100, £101-£1,000, £25 can be claimed, £1,001 or more, 5% of the donation, up to a maximum of £2,500). Simply spend the money out of your company bank account and ensure the transaction is logged against the relevant category in Xero.
1st July 2019
As a sole trader, you cannot put charitable contributions through the business, although you should log any Gift Aid donations in your self assessment. You may […]
1st July 2019
Sole Trader: Sole traders can claim ‘use of home as office’ under HMRC’s simplified expenses system. This equates to £10 per month for 25-50 hours worked […]
1st July 2019
You can claim mileage for any wholly and exclusively business travel in your car (45p per mile), your motorbike (24p per mile) and on your bike […]
1st July 2019
There are complex rules for food expenses, and it is always worth remembering this when you are paying for a meal, or buying food. Not only […]