Self Employed Expenses- What you can claim Guide in 2023
It’s a question I get asked time and time again. As a self-employed business that is a sole trader or partnership that is not incorporated, what expenses can you legitimately claim through your business that gives you income tax and national insurance relief? This blog will cover what I mean by tax-deductible or allowable expenses, […]
Gift cards and the trivial benefits exemption
The trivial benefits exemption allows employers to ignore benefits in kind that cost £50 or less for tax purposes, as long as the conditions of the exemption are met. Where the exemption applies the benefit does not need to be reported to HMRC. Staying within the scope of the exemption is perhaps easier said than […]
Should you employ family member for tax saving purpose?
If someone in your family has no other income, you could take them on as an employee in your company and save tax as a result. This could be your spouse or your adult children – and it could even be used as a method to help fund their costs of further education whilst gaining tax […]
Common misconceptions around software R&D tax credit claims
Most people who are in technology often have common misconceptions in regards to R&D tax relief. I have listed some of the most common ones- Only new software qualifies This is not true. Even if the software currently exists, improving existing software and overcoming new challenges, still counts as genuine R&D. A rival […]
How can SaaS or Software Companies can utilise their Research and Development (R&D) Tax Relief claim from HMRC
Over the past two years, the number of new technology companies launched in the UK increased by 80%. The main driver of this growth was London. This growth has in fact exploded over the past ten years, with the UK’s technology sector now estimated to have a value of more than £180 billion. HMRC recognises […]
