Directory results

 
Result 1 of 2 results
  • Tax Breaks for Directors - Part 1  Directors only - 3. Your salary - 3.5. What to put on your tax return? - 3.5.1. Tax-deductible expenses
    3.5.1. Tax-deductible expensesExpenses, apart from those for business travel (to which different rules apply) that you incur in your role as a director, which are not reimbursed to you, can be claimed as a tax deduction from your salary, but only where they were wholly, exclusively and necessarily incurred in the performance of your work. HMRC applies this rule strictly and there are more challenges against claims for these than just about any other area of tax.Travel expenses incurred by a director or employee...
    Click here
  • Tax Breaks for Directors - Part 1  Directors only - 5. Company cars - 5.2. Ownership and choice of the car
    5.2. Ownership and choice of the carFor car benefit to apply the vehicle must be owned or hired by the company and available to you for private use. You should not take on the ownership of the car, although you can be its registered keeper.If you sign a lease agreement in your personal capacity rather than as a director of your company it’s not a company car. In this case you are financially responsible for it as the lease is in your name. Note that as, on this basis, the company has paid a liability...
    Click here
 
Result 1 of 2 results