Pro-Taxman

Allowable expenses

Virtually time for the office Christmas party

Despite the crazy and uncertain times that we find ourselves living in, directors and employees can still celebrate Christmas in tax-free style – even it does have to be in the form of a ‘virtual’ office Christmas party. Although there is no specific allowance for a Christmas party, or any other employer-provided social function, HMRC …

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Expenses that landlords can deduct

Landlords must pay tax on any profit from their property rental business (although income from property of less than £1,000 a year can be ignored). In working out the profits, expenses are deducted from rental income. To ensure that the landlord does not pay more tax than is necessary, it is important to deduct all …

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