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I get asked this a lot, hence the reason for this brief post. Capital allowances claims have a time limit, believe it or not. The absolute deadline is the second 31 January following the end of the tax year in question. For example, if a tax year ends 5 April 2011, the deadline for a … Continue reading
When working out the motor expenses of a sole trader and partners, two situations need to be considered: 1. Where you are treating the car as if it is owned by the business; 2. Where you are treating the car as if privately owned. Before going further, it is important to note that as a … Continue reading
Phoenix Debola 