A heads-up for sole traders and landlords: the way many people report their taxes to HMRC is changing. Under Making Tax Digital (MTD) for Income Tax, the days of keeping a folder of receipts and dealing with everything once a year are gradually coming to an end. Instead, you’ll need to keep digital records and … Continue reading
This list is not exhaustive but it’s pretty comprehensive. Feel free to let me know what may have been left out. Accountant’s and Bookkeeper’s fees. Advertising, publicity, brochures, photographs, business cards and flyers. Agents commission. Bad debts (included in turnover). Bank charges. Books not retained for more than two years. Bulbs, fuses, locks, keys, plugs, … Continue reading