Good news! If you’re one of the UK’s many self-employed workers who work from home, you can claim some of the cost of running your home as a business expense, which will save you tax!

Here’s how to work out how much you can claim……….

Treat yourself or your family to tax-free wine or gifts, courtesy of HMRC's Trivial Benefits Exemption.

 As a director of a company, the exemption allows you to receive occasional, individual ‘benefits’ of £50 or less, totalling a maximum of £300 each year. These benefits can be purchased for members of your household too.

A benefit could include wine, gift vouchers, flowers, jewellery, electronic items or perhaps video games for the kids.

Congratulations on incorporating your new company!

Starting a business is exciting, but it can also feel overwhelming. With so many things competing for your attention, it's easy to overlook some of the practical tasks that will save you time, money, and stress later on.

To help you get off to a great start, we've put together 10 important things every new limited company should do.

If you use your personal vehicle for business journeys, you can include the cost of the mileage incurred in your accounts, therefore saving you tax.

What is business mileage?

Business mileage relates to any mileage incurred whilst carrying out your business. It should be wholly and exclusively for the business. So, if you go shopping with friends, but pop into the bank whilst there, that mileage isn’t solely for the business and isn’t allowable.

Christmas is fast approaching, which means one question starts popping up in conversations with clients every year:

"How much can we spend on our Christmas party without creating a tax problem?"

The good news is that HMRC allows businesses to provide annual staff events tax-free, provided a few simple conditions are met.