In this video, I talk through:
- What HMRC means by 'allowable expenses' (or tax deductible expenses)
- How sole traders and companies are taxed in the UK
- 4 everyday expenses that sole traders and companies can deduct against revenue to reduce their tax bill. I explain HMRC's rules on capital expenditure, capital allowances and more. I also tell you the rules for writing off the cost of an electric car i.e. a Tesla, against business income, and the benefit in kind rules.
TIMESTAMPS:
00:00 - Introduction
00:33 - What is a tax write off
01:55 - Capex
04:10 - Electric cars
06:16 - Working from home
08:40 - Miscellaneous expenses
WHO AM I:
I'm Kiran, a qualified Accountant and experienced tax professional living in the UK. I make videos about finance, tax and investing.
MY FILMING GEAR:
Camera - [ Ссылка ]
Microphone - [ Ссылка ]
Tripod - [ Ссылка ]
DISCLAIMER:
This content, and the ideas presented in it, are for education and entertainment purposes only. Kiran does not provide tax or investment advice. The information presented does not consider the financial circumstances of any investor, and therefore may not be suitable for all investors.
Although Kiran is an Accountant, no Accountant-Client relationship is established with the viewer in any way.
As an Amazon Associate I earn from qualifying purchases. The product links in the description are affiliate links. This means if you choose to buy something through one of these links, I may receive a commission on the sale, but it makes no difference to you as a buyer.
