The tax rules on the deductibility of entertaining expenses are harsh and often misunderstood – the fact that the expenditure is incurred for businesses purposes does not make it deductible. Subject to certain limited exceptions, no deduction is allowed for business entertaining and gifts in calculating taxable profits. What counts as business entertainment? Business entertainment…
Tax Tips – The Office Christmas Party With Christmas just around the corner it’s time to be thinking about your office Christmas party. But before you do why not have a look through Gold Stag’s Christmas party jargon free tax tips. Tax-free Christmas parties Our tax legislation contains an exemption to prevent employees from suffering…
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Earning casual income and expecting it to be below £1000? You could claim £1,000 trading allowance meaning you will not have to register for self assessment. If you are already registered, you can deduct this from your gross income but can't deduct expenses.
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