Depositphotos_18442353_XL.jpg

Director Expenses

As a Director, you can claim expenses t reduce the companies tax bill and enable you to take money out tax-free.

Expense since, Home office, mileage and general expenses

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.

Mileage

As a director, you probable travel a lot to get/support clients.

The mileage rate is £0.45 per mile, which you should claim.

General Expenses

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.

Contact

Need Cash Flow Forecasting, call now

01243 209 409