The most significant expense is Home Office.
As a director, you spend much time working at home; your home office could be a spare room or simply sitting on the lounge sofa; it’s all tax-deductible.
Firstly, without doing any calculations, you can claim £6pw to work from home, even if all you do is answer your emails on your phone.
Our Home office Calculator will calculate what percentage of your house costs is your home office; this can add up to £1,000’s.
As a director, you probable travel a lot to get/support clients.
The mileage rate is £0.45 per mile, which you should claim.
Any expenses incurred in your duties as a director are claimable; travel to a client and grab a coffee is claimable, along with lunch.
All these little expenses add up, so claim them.
You will save Corporation Tax and take the expenses out tax-free.
We recommend you use your company card for all these expenses as there is an audit trail, and you guarantee to capture them and reduce your tax.