HMRC has issued Revenue & Customs Brief 14/2013: Simplified expenses rules for small businesses.
HMRC has issued Revenue & Customs Brief 14/2013: Simplified expenses rules for small businesses. This brief provides guidance on the withdrawal of non-statutory ‘business mileage’ deductions and agreements for ‘board and lodging’ private use adjustments, following introduction of the new simplified expenses rules for small businesses contained in Schs 4 and 5 of the Finance Bill 2013. The ‘simplified expenses’ rules also allow sole traders and business partnerships to claim a flat-rate deduction in respect of ‘use of home for business’ as an alternative method to recording actual expenditure and apportioning the business element.
HMRC has issued Revenue & Customs Brief 14/2013: Simplified expenses rules for small businesses.
HMRC has issued Revenue & Customs Brief 14/2013: Simplified expenses rules for small businesses. This brief provides guidance on the withdrawal of non-statutory ‘business mileage’ deductions and agreements for ‘board and lodging’ private use adjustments, following introduction of the new simplified expenses rules for small businesses contained in Schs 4 and 5 of the Finance Bill 2013. The ‘simplified expenses’ rules also allow sole traders and business partnerships to claim a flat-rate deduction in respect of ‘use of home for business’ as an alternative method to recording actual expenditure and apportioning the business element.
