{"id":6426,"date":"2020-07-15T04:36:49","date_gmt":"2020-07-15T04:36:49","guid":{"rendered":"https:\/\/thebusinessculture.co.uk\/hey\/what-can-my-limited-company-claim-as-expenses\/"},"modified":"2020-07-20T09:54:08","modified_gmt":"2020-07-20T09:54:08","slug":"what-can-my-limited-company-claim-as-expenses","status":"publish","type":"know-how","link":"https:\/\/thebusinessculture.co.uk\/hey\/know-how\/what-can-my-limited-company-claim-as-expenses\/","title":{"rendered":"What Can My Limited Company Claim as Expenses?"},"content":{"rendered":"

This article has been produced and published by TreyBridge Accountants<\/a> and Aaron Gilmore.<\/p>\n

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We\u2019ve had a lot of people contact us recently to ask which types of expenses they can claim through a limited company. Seeing how it\u2019s such a popular topic, we thought it would be useful to put together everything you need to know in one place, from how it all works, to a list of items that are eligible. You never know, sparing five minutes to read this article could save you hundreds or even thousands of pounds in tax every year.<\/p>\n

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How expenses work for limited companies<\/h3>\n

Whilst there are multiple examples of expenditure that can be claimed against, it\u2019s crucial that you follow certain rules. Namely, the expenses need to be wholly applicable to business purposes and recorded through receipts or bills.<\/p>\n

If, for example, you\u2019re on a business trip and decide to go shopping for fun whilst you\u2019re there, the travel and accommodation can be claimed for but not the souvenirs you buy for your friends. This may sound obvious, but you\u2019d be surprised what some business owners try to claim as expenses, only to be disappointed further down the line.<\/p>\n

Whilst we recommend that expenses are paid for using your business bank account, you also have the option to pay using a personal account and then claim a reimbursed expense. Employees can also claim expenses, in which case we suggest creating a clear policy and form that explains what\u2019s eligible and what isn\u2019t (we can help you with this if it\u2019s too much admin).<\/p>\n

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Examples of limited company expenses<\/strong><\/p>\n

Starting with the most common examples, a limited company can claim against transport, accommodation and food and drink associated with business trips<\/strong>. The same applies to any business insurance<\/strong>, such as public liability insurance, contents insurance, and any other protection that\u2019s specifically for your limited company. Then there\u2019s marketing, advertising and PR activity<\/strong>, so everything from the occasional social media advert and printed flyer to monthly consultancy services are all on the approved list.<\/p>\n

Most owners of limited companies that we talk to know about all of the above, but they\u2019re often missing out on many other opportunities for claiming expenses. Below are some additional costs that can be claimed against, which can make a significant difference to your cash flow.<\/p>\n

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