I have a separate small limited company with 2 company directors (husband and wife) where the company has very simple tax affars and the directors dont draw any salary or dividends at all from this. (this ltd is separate from our usual PAYE employee working for major industry where we complete self assessment personal tax return.) Because of this we have not relied on an accountant to prepare our first set of annual accounts and CT600 as we think we can do it this time given our simple affairs (but we will hire an accountant over the next couple of years for future returns/accounts etc.)
Question how do you claim for £4/week flat rate expenses for company directors when they use their home as office part of the week if you dont receive any salary from the company?
Is it one claim per company or can you do two claims each of £4 per week for married couple who are both company directors?
Is it mentioned as a expense on the cost of sales and just taken off the corporation tax bill or do you put it as a tax deductible or disallowed allowance even though no payment leaves the company bank account?
Or if the company directors dont get a salary from the company, do you claim tax relief from hmrc self assessment?
I have to submit accounts soon but covid lockdown has made it difficult to find someone to discuss! I hope you can show pity on me and advise please?