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What Expenses Can I Claim Through A Limited Company? Membership Fees
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Can you claim your golf or gym membership expenses through your Limited Company? Quite often a monthly subscription fee is payable and if you feel you are using these places for business purposes and want to know whether you can obtain corporation tax relief then look no further!
This is a question that gets asked all the time. HMRC rules state that any membership claimed through your limited company has to be 'wholly and exclusively' for the purpose of the business. So if you're using your memberships for personal use as well as occasionally for prospecting existing and potential clients, the chances are that you may struggle to claim corporation tax relief on these memberships. It's worth reading through HMRC's guidance on what expenses you can claim through your limited company and we will be sure to create new content in the future about what is and isn't claimable to get corporation tax relief.
Accounting & Tax Academy Free Membership Site →
Read HMRC's Business Income Manual Here:
If you're looking for more specific guidance relating to your business needs then head to our website and book a discovery call today where one of our specialist qualified accountants would be happy to help you.
★☆★ OUR MISSION ★☆★
Me & my team are dedicated to helping and empowering YOU to 'Know Your Numbers' so you can make calculated and informed decisions in your business, company and personal finances towards your definition of success.
★☆★ OUR PHILOSOPHY ★☆★
If you take care of your numbers (finances), your numbers will take care of you, your family and those you value the most.
🔴 DISCLAIMER
Our videos are for general guidance, education and empowerment in helping you understand accounting, tax and your numbers. They in no way constitute specific advice to your specific circumstances. Me & my team would be delighted to help you with your specific queries or accounting requirements through a formal engagement.
This is a question that gets asked all the time. HMRC rules state that any membership claimed through your limited company has to be 'wholly and exclusively' for the purpose of the business. So if you're using your memberships for personal use as well as occasionally for prospecting existing and potential clients, the chances are that you may struggle to claim corporation tax relief on these memberships. It's worth reading through HMRC's guidance on what expenses you can claim through your limited company and we will be sure to create new content in the future about what is and isn't claimable to get corporation tax relief.
Accounting & Tax Academy Free Membership Site →
Read HMRC's Business Income Manual Here:
If you're looking for more specific guidance relating to your business needs then head to our website and book a discovery call today where one of our specialist qualified accountants would be happy to help you.
★☆★ OUR MISSION ★☆★
Me & my team are dedicated to helping and empowering YOU to 'Know Your Numbers' so you can make calculated and informed decisions in your business, company and personal finances towards your definition of success.
★☆★ OUR PHILOSOPHY ★☆★
If you take care of your numbers (finances), your numbers will take care of you, your family and those you value the most.
🔴 DISCLAIMER
Our videos are for general guidance, education and empowerment in helping you understand accounting, tax and your numbers. They in no way constitute specific advice to your specific circumstances. Me & my team would be delighted to help you with your specific queries or accounting requirements through a formal engagement.
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