Expenses can be claimed for by your company employees when they make a business purchase using their own money. They can keep their receipt and make a claim on this business expense so that they can be reimbursed. Keeping receipts means that as a business owner, you can claim tax relief from HMRC. You can…
Petty cash is a small amount of cash that is kept aside and made available to a business to make small, unplanned, and one-off purchases. It should be stored in a locked box or drawer, with a trusted employee charged with managing it as a custodian. Typically, petty cash is used to pay for minor…
Changes to Corporation Tax from 1st April 2023 Legislation has been introduced to set the main rate for Corporation tax to 25% from 1st April 2023. A small profits rate will also be set at 19%. The small profits rate of 19% will apply to profits below the lower limit of £50,000 – companies with…
