News & Insights from Atkinsons

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While it is important to make sure you claim all allowable expenses, you must also be aware of some items that are not allowable. The HMRC rule to bear in mind is that expenses should be wholly, exclusively and necessarily incurred for business purposes to claim tax relief. However, it is worth remembering that non-allowable expenses can still be paid for through your limited company but will be disallowed when calculating your Corporation Tax. Read more

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