None of us like paying tax, and there are a number of things that you might be able to get some money back on. From the obvious like office supplies to the not so obvious (Did you know that incredibly, you can claim up to £300 a year on wine through your company?) there are a number of things out there which absolutely aren’t taxable, depending on your circumstances.
Life’s an expensive affair after all, and most of the time, life feels like you’re wandering around with your pockets open and banknotes are flying out of them in a trail behind you, whirling around before never being seen again. There’s absolutely no shame in looking to save money where you can – in fact, it’s needed.
The assistance of a chartered accountant in North Wales or beyond can be absolutely invaluable. An accountant’s entire profession is this sort of thinking, after all. Since there’s absolutely no master list of Things Which Are Covered By The HMRC online or offline (imagine the possibilities if there were!) an accountant can be the definitive factor behind you being able to sink, stay afloat, or rising as a business and as an individual.
That, and deducting tax can be quite risky. An accountant knows where the boundaries are and what applies to you and what doesn’t – and their wealth of experience in this sort of thing will prevent you from landing in hot water for the sole crime of being thrifty. The amount of circumstances and what you are and are not entitled to is absolutely boundless – for instance, some of us might be able to deduct entertainment expenses… some of us aren’t. For some of us, it’s while entertaining clients. For others, employees. And it’s all while adhering to very strict rules.
An accountant will help you with tracking every single expense and combing over them thoroughly and effectively to make sure that all of your deductions are legitimate, to minimise any risk of HMRC audit, and provide good reasons why, should they ever come knocking.
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