by Louie Callegari | Apr 14, 2023 | Accountancy, Business, VAT
Expenses and disbursements are two terms that are often used interchangeably but they have distinct differences in terms of the effect on VAT (Value Added Tax) purposes in the UK. What are expenses? Expenses refer to costs that a business incurs in carrying... 
by Louie Callegari | Mar 20, 2023 | Business, HMRC, Tax
Trivial benefits are best described as small ‘token gifts’, given by management to their employees. Each tax year, directors can spend up to £300 in trivial benefits from the company account. This is tax free and constitutes a business expense and means that... 
by Louie Callegari | Mar 6, 2023 | Accountancy, Business, Tax, VAT
At Lee Coombes Accountancy, our tax advisor services are designed to give our clients in Swansea every opportunity to reinvest in their businesses, and invest in the future. Utilising a professional tax advisor ensures that you will be paying the correct amount of tax... 
by Louie Callegari | Feb 1, 2023 | Business
When running your own limited company, taking dividends is one of the main routes available to you that enables accessibility to cash for personal use. Unlike operating as a sole trader, any earnings made by the company legally belong to the company itself as its own... 
by Louie Callegari | Dec 22, 2022 | Business, Finance, HMRC, Tax
A recent statement by HMRC has announced the postponement of the implementation of the Making Tax Digital for Income Tax Self-Assessment (MTD ITSA) changes until April 2026. Making Tax Digital for Income Tax Self-Assessment was slated for instatement in April 2024,... 
by Louie Callegari | Oct 20, 2022 | Business
We are excited to announce our sponsorship of the Ospreys for the 2022/23 season. More specifically, we have sponsored Ospreys winger, Keelan Giles, and in addition to our logo being on display at the stadium during matches, it is also on display for the year on the...