Keeping track of everything in business can be challenging. And if you are not a qualified accountant then keeping track of the finances cannot only be a challenge, it can become a real issue that could have a major impact on your company.
This is especially the case when it comes to tax-deductible expenses. You may think you’re absolutely sure about what you can claim as such an expense, but you could be making many mistakes.
For example, did you know that you can only claim for promotional gifts up to £50 per customer? Or were you aware that any penalties from HMRC that may have been imposed are not a tax-deductible expense? And you can’t claim for a lavish meal as entertainment either, as the taxman argues that you could have had that meeting over a coffee!
Should you be inspected by HMRC, you may end up having to pay for any shortfall on your next tax bill.
That is the worst case scenario, of course, but even the best case scenario is that you’re losing out on reducing your tax bill! Now that’s sure to have caught your attention…
You may not be claiming a tax-deductible expense that could be making you a little better off. But because business owners can’t be experts in all matters, it’s easy to overlook something that could make your life so much better!
We would always recommend that you have a chartered accountant to file your accounts to ensure you’re not missing out on tax-deductible expenses. And an accountant will also ensure you’re not claiming an expense that isn’t legitimately allowed.
Having some knowledge will always help you steer clear of any misunderstandings and will also help you claim in the areas you were unaware of.
So to help, we have arranged a special, free workshop in conjunction with Prismatic Wealth. As a Stockton-based chartered management accountant, we wanted to work with a local partner who can also help you improve your wealth.
And because we care about clients, we chose their offices as they have much more free parking than our offices in Gloucester House.
The workshop takes place from 8am until 9:30am on Thursday, 24th October, 2019. Please book via our Eventbrite page, so book now because spaces limited

Guidon Group Ltd

t: 01642 927265                                  e:

Gloucester House, 72 Church Road
Stockton-on-Tees. TS18 1TW

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Guidon Group

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