As a company director, treating a potential client to lunch feels like a standard marketing cost. You are trying to win business, after all. However, HMRC draws a very hard line here. No matter how you label it in your accounts, client entertainment is never allowable for tax relief in the UK. Here is what … Continue reading
If you have a limited company, keep an eye on the profitability as it approaches the financial year-end because you can deposit a lump sum in the director’s SIPP to deplete the taxable profit. You’ll need to do it before the year-end date because it cannot be accrued. Apart from the obvious corporation tax benefits, … Continue reading