Most VAT registered traders will be aware that you cannot reclaim the VAT when you buy a car. The only exceptions are businesses that use cars directly to generate income: for example a taxi firm. The VAT position of motor expenses for cars owned by the business is slightly more complex. FuelAs most business cars […]
Ideas for reducing your taxable income 2011-12
Before we describe a few basic ideas for reducing your taxable income this year it is worth pointing out that you only have until 5 April 2012 to take action… Deferring incomeIf you receive bonuses this month or a dividend from your company you should estimate your earnings for the next tax year, 2012-13, and […]