What are expenses and what does ‘claim’ actually mean? Expenses are the costs you incur in the day-to-day running of your business. At tax time, your total profit (the amount you need to pay tax on) is your taxable income minus the expenses you can claim — so the more...
How can I claim my vehicle & related expenses? If you have a business (including if you are self-employed), and you use your own car for work purposes, you can claim back some of your vehicle expenses. If you have a car that you only use for business purposes...
If you need a car to operate your business, which is better to purchase a vehicle or lease one? On the one hand, if your business owns the car you’ll have a long-term asset and may qualify for more tax deductions. On the other hand, buying a car is a huge expense and...
