Expenses
Can I Use My Personal Bank Account for My Limited Company? Starting a limited company comes with many practical questions, and one of the most common is: “Can I use my personal bank account for my limited company?” The practical answer is no. A limited company is legally separate from its directors and shareholders. Its
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What Expenses Can You Claim Without a Receipt?
July 29, 2026What Expenses Can You Claim Without a Receipt? One of the most common questions accountants hear is: “Can I still claim a business expense if I have lost the receipt?” It happens to almost every business owner. A paper receipt fades, gets misplaced, is accidentally discarded or never reaches the person responsible for the bookkeeping.
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What Expenses Can a Limited Company Claim? A Practical Guide for UK Directors Limited company expenses can reduce your company’s taxable profit, but only if they are genuine business costs and are recorded correctly. The basic rule is that an expense should be incurred for the purposes of the business. In practice, directors should ask:
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What expenses can a limited company claim?
May 23, 2026What expenses can a limited company claim? A limited company can usually claim expenses that are incurred wholly for business purposes and are not specifically disallowed by tax rules. The key point is that the cost must belong to the company’s trade, not the director personally. Some costs reduce taxable profit directly, while others, such
Read More What expenses can I claim as a sole trader?
May 11, 2026What expenses can I claim as a sole trader? As a sole trader, you can usually claim business expenses that are genuinely linked to running your business. These reduce your taxable profit, which means you pay tax on profit rather than total income. GOV.UK explains that self-employed people can deduct allowable expenses from turnover to
Read More Sole Trader Expenses: What You Can Actually Claim
April 22, 2026Sole Trader Expenses: What You Can Actually Claim If you are a sole trader, you can claim allowable business expenses to reduce your taxable profit. In simple terms, that means you only pay tax on your profit after deducting costs that HMRC accepts as business expenses. But there is an important catch: the expense must
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Why Some Business Expenses Still Get Disallowed
April 18, 2026When “Wholly and Exclusively” Fails: Why Some Business Expenses Still Get Disallowed “Wholly and exclusively for the purposes of the trade.” It’s one of the most quoted rules in UK tax—and one of the most misunderstood. On the surface, it seems simple: If an expense relates to the business, it’s allowable If it doesn’t, it’s
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Travel and Subsistence Expenses
April 6, 2026Travel and Subsistence Expenses: What You Can (and Can’t) Claim from HMRC At first glance, claiming travel and subsistence expenses might seem straightforward. In reality, it’s one of the most misunderstood areas of tax, and a frequent trigger for HMRC enquiries. The issue lies in HMRC’s strict interpretation of the rule that expenses must be:
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What Expenses Can Sole Traders Claim in the UK?
March 22, 2026What Expenses Can Sole Traders Claim in the UK? (2026 Guide) If you are self-employed, one of the most important ways to reduce your tax bill legally is by claiming allowable business expenses. A very common question is: What expenses can sole traders claim in the UK? The simple rule is: You can claim expenses
Read More What Counts as a Business Expense?
February 26, 2026What Counts as a Business Expense? A Practical Guide for UK Businesses One of the most common accounting questions business owners ask is: “What counts as a business expense?” It is a deceptively simple question, but one that causes more confusion, mistakes and HMRC disputes than almost any other area of tax. Claiming expenses incorrectly
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