Guard dogs.

They’re probably the last things you’d think about when listing what you can claim as a taxable expense.

But the fact is:

If they’re wholly and exclusively used to protect your business premises, you could enter them as a valid expense.

You see that’s just the thing…

There are a lot of things you might not realise you could claim for when it comes to completing your tax return.

Of course, above and beyond all else, it’s important to make sure any return you send to HMRC is accurate.

And naturally, to make sure you don’t fall foul of the rules and regulations, here at Appleleaf Accountancy, that’s our primary aim.

At the same time, we want to make sure you only pay the right amount of tax you’re liable for.

Problem is: because the rules of what you can and can’t claim can be a little confusing sometimes…

It’s possible you could miss out on some relief you would otherwise enjoy.

“I didn’t know I could claim that?”

When you choose to come on board with us here at Appleleaf Accountancy, one of the first things we’ll do is deep dive into your business to understand what it is you do.

We do this to find out more about you so we can better tailor our advice and services to your specific needs.

In doing so, we’re able to spot elements of your business where things could be done in a more efficient way.

The basic rule of thumb is something must be ‘wholly and exclusively’ for the use of your business.

But even within that definition, it often turns out there are some surprising things you can claim as a taxable expense.

For example, did you know you could claim on the following?

• your home:

  If you work from home, there is a lot of potential for including certain items as taxable expenses. Water rates, electricity, phone and Internet. They’re all considered potential expenses. Most people accept the basic rates set out by HMRC, but providing you’re able to supply records, there’s potential to claim a lot more. We’ll work out the best way for you to tackle this.

• mortgage interest:

  Yes, you read that right. There is the potential for you to claim the interest you pay on your mortgage as a taxable expense. Again, it’s down to the records you keep and how it’s calculated. But if your home is your main place of work, we’ll look into how you could include your mortgage interest as a taxable expense.

• meals and hotels

  If you’re eating out for a business lunch or networking during an evening meal, you could be claiming the cost as a taxable expense. The same goes for the hotel you’re staying at for the conference you’re travelled to next month. It’s all part of your business and therefore it’s all allowed to be considered a taxable expense. Still, if you’re ever in doubt – just check with us and we’ll check for you.

• overseas travel:

  Just as any business trips inside the UK are allowed, so are food and travel abroad – providing it’s in relation to business. Again, if you’re ever in doubt about whether something can or can’t be included as a taxable expense – just gives us a call.

• books and research:

  Something a lot of people tend to forget about when it comes to taxable expenses is books and research. Providing what you’re reading is wholly and exclusively for work – such as a niche title related to your industry – you should be able to include it in your accounts.

And as we say, you could well claim for any guard dogs you might have on your premises – but that is extremely niche.

tax efficient

The bottom line is:

No matter what your line of business you might be…

No matter how big or small your business might be…

No matter how complex your accounts may be…

We will ALWAYS make sure you only pay the right amount of tax in the most efficient way.

If you’d like us to make sure you’re tax return is as accurate and efficient as it can be, please do get in touch and we can have a chat about how we could help you.

You can give us a call Monday to Friday on 01472 287387 or get in touch via our contact form here.

We’ll walk through everything with you so you’re 100% comfortable and confident in the process…

And we’ll help complete your return, calculate your liability and file all the appropriate documentation for you.

That way, you can get on with growing your business instead of getting lost in the books.