Accommodation costs are a common expense for limited companies, particularly for contractors and consultants who frequently travel for work.
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.
Can I claim for the expense of renting a flat near my new contract?
One of our readers has recently been offered a contract role away from home. Can he claim the cost of renting a flat against his limited company’s tax bill?
How to claim training expenses via your limited company
Investing in improving your skills or those of your employees can give you a crucial edge when it comes to pitching for new contracts. However, before funding training via your limited company, it’s important to know what you can – and cannot – claim as a tax-deductible expense.
Loyalty points and tax: what limited company directors need to know
Find out how HMRC treats loyalty points earned on business spending. Learn the conditions for using them personally without triggering a taxable benefit.
30+ business expenses your limited company can claim
As a limited company owner, you will incur a variety of business expenses whilst running your business. Here, we look at which expenses are ‘allowable’ for tax purposes.
Can you claim health and medical expenses through your company?
One of the most frequent questions contractors ask is, “What health-related expenses can I pay through my company?”
What expenses can you claim when contracting abroad?
If you’re thinking of taking up a job offer overseas, or you’re already contracting abroad, one potentially confusing aspect of record-keeping relates to expenses claims.
Company car vs. own vehicle – claiming tax relief
Many contractors travel by car for business, visiting client sites or attending conferences and training sessions. However, when it comes to claiming tax relief for the costs of these journeys, the rules can be confusing.
Limited company directors and working from home expenses
As a limited company owner, you may well carry out your trade from home – occasionally, or on a regular basis. Which (if any) household expenses can you legitimately claim against your company’s tax bill?
Tax exemption for ‘trivial benefits’ provided by your limited company
There will be times when you provide small gifts to employees, throw a staff function or treat yourself as the director. How are ‘trivial benefits’ taxed?