Many contractors travel to a temporary workplace. You should be aware of the 24 month rule which determines whether or not you can claim travel expenses.
Limited Company Contractor Expenses
- As a contractor, you may incur many expenses related to your trade.
- For limited company contractors, you can offset almost all legitimate business expenses against your company's Corporation Tax bill.
- However, if you receive any personal benefit from business expenses paid by your company, you and the company will be taxed on the value of any 'Benefits-in-Kind'.
- The SDC rules restrict the expenses available to umbrella contractors, although some expenses are still permitted.
- Start with our popular guide to limited company expenses.
Claiming phone, mobile and broadband expenses via your limited company
While working as a contractor, you may run up a number of business-related phone and broadband expenses. How do you ensure these expenses remain tax-deductible for your company and free of additional personal tax charges at year-end?
Claiming computer hardware and software expenses via your company
If you need to buy a new laptop or upgrade your PC software via your limited company, how are these expenses treated for tax purposes?
Is the cost of my smartphone (or smartwatch) an allowable limited company expense?
Almost everyone has a smartphone these days – typically using them for both personal and business purposes. With this in mind, can you legitimately claim the costs of smart devices against your limited company’s tax bill?
Claiming relocation expenses through your limited company
Moving for a new contract? Find out how your limited company can claim up to £8,000 in relocation costs tax-free, and the HMRC rules you need to meet.
Entertaining clients – can your company pay, and what’s tax-deductible?
Can you claim client entertainment through your company? This guide explains HMRC rules, VAT treatment, and what is an allowable tax-deductible expense.
Cycle to work scheme – are limited company directors eligible?
The Cycle to Work scheme is an initiative set up to promote health and reduce pollution. What are the benefits for limited companies and their employees?
Digital and remote working expenses – what can your company claim?
Which remote working costs can limited companies claim for and how are they treated for tax purposes? Be cautious with services you also use personally.
Umbrella company expenses – what can you claim for?
If you work via an umbrella, you may incur various expenses while carrying out your work. Here, we look at how expenses are treated for tax purposes.
Which business travel expenses can limited company contractors claim?
As a contractor, you may need to travel as part of your contract duties – within the UK, or even overseas. Which travel expenses can you legitimately claim?