![]() ![]() Small business owners that regularly work from a home office can claim a small tax deduction of £4 a week without having to provide itemized bills, receipts and other documentation. Here are just six of the many ways our London accountants are helping savvy small business owners make sure their business is as tax-efficient as possible. Provided an expense is incurred ‘wholly, exclusively and necessarily’ in the course of running a business, and it doesn’t have a duality of purpose (ie it doesn’t have both a business and a personal purpose) then it is usually tax deductible. ![]() Types of allowable expenses and deductionsĮvery business owner has an obligation to ensure they pay the correct amount of tax to HM Revenue & Customs, but that doesn’t mean they should ignore legitimate tax breaks or fail to account for deductible business expenses. ![]()
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