Clarke-Hills Accountancy 

Often there are misunderstandings in regards what is allowable and what is not. The list below covers the items which are most common. This list is written in general terms and advice over specific items should always be taken.

 Item Allowable expenses Dis-allowable expenses
Everyday business expenses Expenses incurred wholly and exclusively in the course of business Any personal expenditure and any entertaining except where this relates to staff
Accountancy Fees Business related fees Expenses relating to specialist consultancy work
Capital items (This is where the item is expected to be in use for more than a year) An annual capital allowance is available on most items of equipment, as well as the Annual investment Allowance Freeholds and long leaseholds on most non-industrial premises
Bank Charges and interest Charges on business accounts and interest on loans taken out for trade purposes only  Interest for personal loans and overdrafts 
Gifts for customers Gifts costing up to £50 and bearing the business name Any items of food and drink
Expenses home A reasonable proportion of home running costs, dependent on the extent of home use for the business Any domestic running cost not related to the business 
Motor expenses  The business proportion based on the mileage Any private element
Traveling expenses Traveling expenses on the traders business Travel between home and the normal place of business
Insurance Business related policies Health and sickness policies, Life Assurance
Entertainment Staff entertainment Non staff or customer entertaining
Subscriptions Subscriptions to a professional or Trade body Political Donations
Computer Software If this has been bought separately from the hardware Otherwise this would be covered under Capital Allowances 
 
 

Anthony Clarke is regulated by 

the AAT under licence number 6389

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We are located at:

Clarke-Hills Accountancy

146 Sunnyside Gardens

Upminster

RM14 3DR

Contact us today!

If you have any queries or wish to make an appointment, please contact us:

 

+44 01708 251088 +44 01708 251088

+44 07970 209763

anthony@clarke-hills.co.uk

 

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