Company Cars: Capital Allowances, Tax Relief and Benefit-in-Kind Implications

Company cars come with a mix of tax opportunities and compliance challenges for UK businesses. When a company buys a car, it’s treated as a business asset, eligible for capital allowances that let businesses deduct the cost from taxable profits over time. However, if directors or employees use the...Read More

Added: 26/06/2025

Clothing and Tax Relief: What Business Owners Need to Know

The deductibility of clothing expenses for self-employed individuals and company directors remains a frequently misunderstood area of UK tax law. While many business owners assume that clothing worn for work is automatically allowable, HMRC takes a restrictive view, and the statutory framework reinf...Read More

Added: 20/06/2025

Director’s Loan Accounts and the Section 455 Charge

As a professional accountancy practice specialising in supporting small and medium-sized enterprises (SMEs), we often encounter questions from company directors about the complexities surrounding director’s loan accounts (DLAs) and the associated tax implications that arise. These rules can be cha...Read More

Added: 07/06/2025