Cookies are small text files that are stored on your computer when you visit a website. They are mainly used as a way of improving the website functionalities or to provide more advanced statistical data.
December Questions and Answers
Newsletter issue – December 2022
Q. The sales representative for my company leaves home early in the morning for a two-day business trip that includes an overnight stay. What can the company pay him as a daily allowance if he does not produce any receipts?
A:By the end of day 1 the sales rep will have been traveling on business for more than 15 hours and will also be away from the office at 8 pm. He can thus be paid a tax-free meal allowance for that day totaling £25. However, the sales rep does need to provide evidence of their expenditure on food and drink during that trip. He can also be paid a tax-free £5 allowance for incidental expenses as he is away overnight and doesn't need to produce a receipt for that.
Q. Myself and my husband are both employed by the same company, we work from home, but our employer didn't pay us the £6 per week working from home allowance. We also jointly own a let property. Can we claim the home working allowance against our salaries and also against our property rental income?
A:If you are required to work from home under your employment contracts but you aren't paid the working from home allowance, you can claim £6 per week each as a deductible expense on your tax returns. You can't claim a similar deduction from your rental income, as that deduction is only relevant to employment income.
Q. I work through my own company which pays me a salary and dividends, but I'm confused as to whether I should classify myself as employed or self-employed.
A:From a tax point of view, and legally, you are an employee of your own company, so you are employed. However, if you are applying for a loan or a mortgage the lender may treat you as "self-employed" as you are in control of your own income.
What our clients say about us...
"Paul has provided accountancy services to my company for 2 years now. I can recommend Paul very highly; his skills as an accountant are highly detailed and professional and he is always available to provide advice. One aspect of the way Paul works that I greatly appreciate is a preference to meet face to face when there is a detailed conversation to be had. I personally find this more productive and is a benefit of working with a small accountancy firm that you wouldn't get with the large faceless providers."
ALISTAIR FAIRWEATHER - PROGRAMME & PROJECT MANAGER, DELIVERING/RESCUING I.T. 7 BUSINESS CHANGE WITH BUDGETS UPTO £50M INC SUPPIER MANAGEMENT
"I couldn't ask for more from Paul as an Accountant. Paul has been accountant to Work Relief Charity Recruitment for just over a year now and is proving an invaluable asset. Accurate, knowledgeable, flexible with an emphasis on service delivery, I would recommend Paul's services to any organisation looking for an accounts professional."
Neil Price - Managing Director at Work Relief Charity Recruitment
"Paul was a referral from a family member when I started my business 2 years ago. As this was the first time I had ever run my own company I was totally clueless over the financial side of matters and was worried that I may have made mistakes in any of my accounting. I needn't have worried as after enaging Paul for a set monthly fee he was always there on the end of the phone for all sorts of questions I had and no matter how trivial they were Paul gave me all the information I required and more and did an excellent and painless job at the end of my first year! Couldn't ask for any better to be honest. Just two words - hire him!!!"
Lee Westrap MBCS - Director - Bulldog IT Services
Please complete our form
to request a callback
Competitive fixed quotes
for agreed services
Increase your profit and
reduce tax liabilities
Expert advice for your
business size
