As I finalise arrangements for my forthcoming finance surgeries at Cockpit Arts studios, it occurred to me that many businesses offer their time, services and/or products for free in order to generate goodwill but how do HM Revenue & Customs view the costs associated with such activity?
Posts Tagged ‘Tax’
We’re all going on a summer holiday
Well, I am – volcanic ash cloud pending of course – off to France with the wife and kids for a week of complaining about the lack of wireless internet connection preventing me from checking my emails whilst everyone else is relaxing.
I shall of course continue to be working Monday to Friday 9 til 5 whilst I am there (!) and can surely claim the entire cost of my trip as a legitimate business expense?
Former employer comes back to bite
Interesting tax case of Mr Evans, a former Revenue Inspector who was found to have over-claimed his expense claims over a period of 7 years. HMRC, his former employer, sought back taxes, interest and a 35% penalty for negligence but the story didn’t end there..
Tax doesn’t have to be taxing
Unless of course you have better things to do with your time than read through the pages and pages of manuals, help sheets, leaflets and guidance notes on HM Revenue & Customs website. The help sheets on completing your tax return alone stand at more than a thousand pages and they include nothing about VAT, National Insurance, PAYE or any of the other tax issues that small businesses face. That said, if you know where to look, there can be some very useful gems on the website and I have outlined some of the better ones.
Categories
- Business Advice (15)
- Tax Advice (38)
- Uncategorized (2)
Archives
- January 2012
- December 2011
- November 2011
- September 2011
- August 2011
- June 2011
- May 2011
- April 2011
- March 2011
- February 2011
- January 2011
- December 2010
- November 2010
- October 2010
- September 2010
- August 2010
- July 2010
- June 2010
- May 2010
- April 2010
Or sign up to our newsletter
How big is your business?
