2006-09-12 21:19:32 · 7 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United Kingdom
Depends on your type of business really.
If you work from home, you can claim back the following:-
A percentage of your council tax bill (based on the size of the office you occupy in the house - i.e. spare bedroom, dining room etc. A general rule of thumb is that 1 room = 8%)
A % of electric and gas bills (same % as room)
Make sure you change your mobile contract into your company name, and claim that back, in addition to claiming back any calls made on the land line.
Computers, faxes, printers, shredders, any stationary etc are another good one.
If you are on the road, a sat nav, any interest payments that you make on a car loan are tax deductible, petrol, car tax, insurance and valeting.
Charity contributions are tax deductible and will make you a better person!!!!
Have fun spending!!
2006-09-12 22:17:29 · answer #1 · answered by Emma T 4 · 0⤊ 0⤋
You shouldn't buy anything to reduce the tax bill.
You should buy things that are useful to the business.
Don't forget that every £1,000 of allowable expenses will only reduce your liability by £300 (or £410 if you pay nigher rate tax).
So if you buy things you don't need you are out of pocket.
Instead of reducing your tax bill why not maximise the money left in your pocket.
2006-09-13 06:32:59 · answer #2 · answered by tringyokel 6 · 0⤊ 0⤋
You can put anything you like though your business so you dont have to pay VAT, but the things you buy must be for the buinesses use. You can buy one say dishwasher for uses in the business and not have to pay tax on it but if you decided to buy another one for your home you can not do that, if you do the auditors will see by looking through the books and you could be done for tax evasion.
2006-09-13 04:19:20 · answer #3 · answered by Jack W 2 · 0⤊ 0⤋
depends stevie you will need to check what the governement have pushed for this year....with regards to the chancellors statement. certain sectors of the market for example It have been exempt from tax to a certain degree in order to encourage growth within the sector. You might be able to find some journal on the inland and revenue website.
2006-09-12 21:23:46 · answer #4 · answered by Anonymous · 0⤊ 0⤋
the dearest car you can find lol , better than the tax man gettin his hands on ur cash !
2006-09-12 21:28:40 · answer #5 · answered by Anonymous · 0⤊ 0⤋
anything business may need
2006-09-13 23:38:17 · answer #6 · answered by Anonymous · 0⤊ 0⤋
If you don`t mind,I`ll have a porsche.
2006-09-12 21:31:05 · answer #7 · answered by Darrell K 2 · 0⤊ 0⤋