Company Expenses

It is possible to claim for the costs of computer software, consumables and website costs subject to HMRC guidelines.

You may claim for annual subscriptions for approved professional bodies or societies provided it is in relation to the type of work undertaken by you and is either on HMRC’s approved list and or is a pre-condition to be able to undertake your work.

We recommend you claim for the actual costs incurred when working overseas, however it is possible to claim the approved HMRC worldwide subsistence rates if the rates are favourable. Temporary workplace rules (24-month rule) apply to the worldwide subsistence rate expenses.

You may be able to claim for work related training subject to HMRC guidelines as long as it meets the criteria.

You can claim for the cost of one business mobile phone, telephone or broadband, subject to HMRC guidelines.

Generally, capital items are those items that will have enduring benefit to your limited company. Examples are computers, tools, office furniture and motor vehicles. If the items purchased are owned by the business, capital allowances will be claimed rather than the full cost being an allowable expense in the year of purchase.

The cost of necessary medical treatment should you fall ill or get injured may be claimed in certain circumstances subject to HMRC guidelines.

The company may be able to pay for your moving or relocations costs in certain circumstances subject to HMRC guidelines.

The cost of food and accommodation provided for directors arranging training courses for the purpose of the trade is an allowable expense. If food and accommodation provided as part of training are given to any other person free of charge, the cost is classed as entertainment and is therefore disallowable.

Costs of certain types of clothing are allowable as a business expense, subject to HMRC guidelines, where your duties require them to be worn.