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?
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.
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.
IR35 – Deemed Payment and the treatment of expenses
How to work out which expenses you can claim if your work is caught by IR35 – the 5% expenses allowance and how the deemed payment is calculated.
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.
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.
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?
Navigating festive gift and entertainment claims through your limited company
With the festive season almost upon us, we look at how you can keep HMRC happy when making claims for gifts and entertainment.
Can directors claim for personal tax return advice on expenses?
A guide on whether limited company directors can ‘do a Reeves’ — claim back the cost of accountancy fees.