What are Capital Allowances?

What are Capital Allowances?

When a business incurs expenses, it is either capital or revenue (trading) expenditure. Expenses which are classed as capital expenditure, normally have a lasting benefit for the business (at least longer than a year). Revenue expenses on the other hand, usually...
Do I need to register my business for VAT?

Do I need to register my business for VAT?

This is the question we are often asked by small business owners and if you have recently launched a new business, you might also wonder the same. So, let’s explore the ins and outs of this key area of tax legislation, including the essentials such as when you must...
Cars in Limited Companies

Cars in Limited Companies

Many employers provide their employees with company cars if their job requires frequent travel. However, the concept of company cars has become less attractive over recent years as a result of numerous tax changes. So how exactly do the tax rules work when it comes to...