I have completely confused myself on what expenses are tax deductable when a director has restaurant expenses.
Here are the 3 scenarios - I have for a director with a limited company;
1) The director travels away a lot abroad so he stays in hotels and has a meal there - I think this is the most straight-forward and I can class this as travel expenses?
2) The director entertains potential clients - is this classed as entertaining or is it tax deductable as he is trying to find new business for the company?
3) The director goes out with a colleague while abroad on work and pays the full bill - is this classed as entertaining or tax deductable as he is away?
I would really appreciate a bit of guidance as I have now completely confused myself!
- Filed CT600 using Taxcalc 52 2
- ICAEW student, Dilema with client & boss 386 12
- Concerned about RTI 2014 2,762 71
- Annual Investment Allowance (AIA) 159 2
- Error in 11-12 return done by previous accountant, do we have to offer them to correct or can I do and client reclaim cost 666 11
- Which software for practice books? 530 20
- Related Parties Note 637 10
- Dazed & confused 352 5
- Law Shipping/Odeon related question 110 2
- Goerge fixes PAs for long period 139 2
- Are HMRC getting it right? 310 7
- trading or dormant 241 6
- Is Hold over relief available? 187 6
- Payroll Liabilities 103 2
- SAGE con 300 6
- Dormant company owns shares in another company 136 4
- Charity reserves 250 5
- Part-time work - advice please? 143 2
- Aggressive HMRC 1,676 18
- Starting an accountancy practice for bachelors? 333 5
- Desperately seeking Susan, Sam or anyone with any other name 1,047
- Experience with Islamic investor following Sharia-compliant rules? 564
- Darwinpay Partnership Assessment 371
- S464A Charge to tax: conferring benefit & BIK 280
- Charge out rates in London? 222
- auto enrolment - calculation of first pension deduction 217
- Personal consumption by landlord 191
- Interest on Loan to a Company 178
- Bank interest in 'near' facility recall situation 155
- Agent fees to sell business 149