Expense
Accountancy
Accommodation
Advertising
Air fares
Annual company fee
Bad debts
Bank charges
Bicycles and related costs
Broadband internet
Business (corporate) gifts
Business start-up
Capital allowances
Car hire
Childcare vouchers
Christmas gifts
Charitable donations
Clothing
Computer equipment
Company formation fee
Conference expenses
Depreciation
Director's salary
Dues to professional bodies
Entertainment
Eye test
Foreign exchange costs
Health check
Hire and rental charges
Conditions of claim
All fees including advice pre company incorporation
Hotel, B&B, meals included
Allowable
Exception of 1st class as it is an unnecessary cost
Allowable un-receipted
Once the debt is 6 or more months unpaid, VAT needs
adding back to output tax if not cash accounting or flat
rate scheme
Allowable un-receipted
Allowable
Allowable but conditions have to be met
Maximum of £50 in a 12 month period and can be
verified for advertising purposes. Food, alcohol and
tobacco do not qualify
Incorporation fees, VAT, PAYE and CT registration
fees, accountancy advice, lawyers advice/contracts
drawn up
Depreciation on assets
Proportionate if there is an element of personal use
Allowable
Need 2 or more employees other than just Director to
qualify, gift over £50 is a P11d expense and alcohol,
food and tobacco do not qualify
Claimable as long as it does not put the company in a
loss making position
Where it can be classified as a uniform and not used
for personal use
Under the net value of £500 otherwise will need to be
written onto the balance sheet as an asset
Allowable
Allowable
On assets above £500 net value, either straight line or
reducing balance
Allowable
Have to be approved on HMRC list
Conditions apply
When you are required to work with a VDU to
perform the company duties
Costs of converting foreign invoiced revenue back to
sterling for UK companies
BUPA and other annual screening check for director
or employees
Allowable
Hire purchase Agreement must be in company name
Home working expenses Conditions apply
Insurance Office contents, Employers liability, Executive
income protection, Key man life, Jury service, Motor,
Tax investigation, Permanent & private health,
Professional indemnity, Public liability
Interest on business loans Loan in the company name
Key man life insurance Allowable
Leasing rental Must be in company name
Legal costs Breaches of law and penalty payments are not
allowable
Magazines and Books Generally no VAT to reclaim
Marketing costs Allowable
Medical insurance Foreign contracts only otherwise a P11s expense
Medical treatment Only when on business abroad otherwise a duality of
purpose exists
Mileage Under approved mileage allowance (AMAPs)
Mobile telephones Conditions apply
Motor vehicles Company owned, costs with the exception of
improvement are allowable
National insurance contributions Allowable, not class 1a
Office rental Allowable
Parking Allowable, £5 daily for un-receipted
Patent costs Allowable
Pensions provided to employees Allowable but advisable to seek professional advice
from an independent advisor
Postage No VAT reclaimable
Professional fees Allowable as long as not a breach of the law
Printing Allowable
Property rental Apportion where private element
Repairs to equipment Allowable
Salaries and wages Allowable
Software Allowable, unlike a capital expense, if the value
exceeds £500 net, it is still accounted for in the profit
and loss account.
Sponsorship Allowable when given freely (not expecting anything
in return) no VAT needs to be charged.
Stationery Allowable
Subsistence Allowable with exception of the 24 month rule
Taxi fares 'Adequate' fares are allowable, a limousine is non-
allowable
Telephone Proportional if not in the business name
Training courses Must be relevant to the nature of the business
Training manuals or books Allowable when specific to business
Travel Where approved schemes are applied, no benefit in
kind charge
Use of home as office £3 weekly HMRC approved