Expenses

How do I record my mileage in my Crunch account?

If a vehicle is under personal ownership, you can claim a fixed mileage allowance, set by HMRC. To record your mileage in Crunch, you first need to calculate your allowance. Remember, that if you’re using a car or van, the rate changes after 10,000 miles of travel in that year. You can keep up to d...

Can I claim a meal allowance?

You’ll be glad to hear that you can claim for the cost of food and drink whilst performing your work. But there are some important rules that should be understood before you claim The qualifying journey rule: You can only claim for meals whilst on a business trip, or whilst working away from y...

How to record expenses for use of your home as an office

HMRC’s rules on whether you can claim the use of your home as an office or renting part of your home to your limited company as an expense, are complex. There are slightly different rules that apply depending on whether you’re a limited company or self-employed (sole trader). We’ve written an articl...

How do I claim childcare expenses through my Crunch account?

Childcare is very expensive. In fact, it’s so expensive that some families have reported on childcare costing them similar to their mortgages and rent payments. The government introduced a Tax-Free Childcare scheme in 2018, which you can read more about in our Knowledge article. To record chi...

How do I claim for business telephone calls and the cost of the phone ...

To claim full relief on your mobile phone or telephone you will need to ensure that a contract is set up between your company and the service provider, this way you can gain full tax relief on the cost of the phone and its use - any personal calls on the mobile are treated as a tax free benefit in k...

How do I claim for a company party or staff entertainment?

To reward staff for their hard work, you may wish to hold a summer or Christmas party. The good news is that HMRC allows a bit of tax relief for these events. As ever with HMRC, there are some rules to follow: During the tax year you are entitled to £150 (including VAT) per employee - this ...

How do I record my bicycle as an expense through my Crunch account?

There are two ways to buy a bike through your limited company. Firstly, your company could buy the bike outright and "lend" it to you. If you lend or hire a bicycle or cycling safety equipment to an employee, there are no reporting, tax or NIC requirements if the following conditions are met: ...

How do I record software purchases?

Before recording the purchase as an expense you need to distinguish between whether the software is an outright purchase, or if you are just buying a license. Any Software bought outright for life, as well as software licenses where the cost may be an ongoing subscription should be recorded with an...

Can I claim for eye tests and glasses?

According to HMRC, there are no reporting requirements (tax or NI to pay as benefits in kind) on provisions of: "Eye tests required by health and safety legislation for employees who are required to use a computer screen or other VDU. Glasses or contact lenses that you're obliged to provide becaus...

How to record company pension contributions

We’ve written a handy knowledge article about making pension contributions through your limited company. If you want to make payments to a pension fund through your limited company, then the actual amount you contribute should be recorded. If you contribute £40,000 into a pension fund from your com...

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