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  • 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 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. Here are examples of a few common expenses that qualify as tax deductible.Business travel. Directors like other employees...
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  • 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 carThe car should be owned or leased by the company and lent to you to use as you wish. The company should insure the vehicle for both business and personal use, and pay for the car tax, plus all repair and servicing costs. 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 name, but the company pays the instalments on your behalf, it’s not a company car. In this case you are financially responsible...
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