Monday’s free tax and business success tip for your business
Monday’s free tax and business success tip for your business:
30/04/12
Tax Tip
If you are self-employed your business is based at your home address.
You need to show that your trading activity does not cease when you arrive home so that you may claim the costs of travelling to your customers' sites against your taxable profits. It is good to keep the following records should help prove this:
a.A diary of the time spent working on proposals, quotes and other business related paperwork at your home address.
b.Business-related paperwork such as invoices and quotations should show your home address as the business base.
c. Any insurance policy you need for your business should show your home address as the operational base for the business.
d.Records of all journeys to your customers' sites, including the date, the mileage, and any public transport tickets and parking receipts.
If you want to make a claim for the cost of running your business from home, so speak to us to see what can and cannot be claimed as a business expense.
Business Success Tip
It is good to recap how to work at the business not inside the business: Have a goal. Make plans how to achieve the goal. Take action on the plans. Systemise your business.
We can help with all of above as our services are unique or you can do it as well.
Hirsch & Co Accountancy, Unique Accountancy and Taxation Services.www.hirsch.cohttp://www.facebook.com/businesuccess.