My Mate Says: “There’s no such thing as a silly question!”
You’ve decided to start up your own business.
Whatever your reason for starting this business you are passionate and want to steer your company towards success however, you need to know how to get things right to make sure you don’t fall foul of the rules.
You are now a Director. Depending on how far your business has developed you could have staff members relying on the success of your company in order to pay their bills (no pressure!).
We like to turn to our friends or family for advice. This can be constructive, as two minds are better than one. Some subjects however, require a specialist mind. A big example being TAX!
Unfortunately, at school we don’t learn very much about tax or running a business. For example; people quite often don’t understand that expenditure doesn’t necessarily equal a deduction for tax purposes.
At Ad Valorem we have years of tax experience between us. This means we have been asked a variety of memorable questions. However silly you think the question may be, don’t be afraid to ask, chances are it’s been asked before. Our answers will always be informative and could help you save money or prevent a bundle of trouble with HMRC.
Every Friday our Tax Team will post a true short story, addressing a memorable question they’ve been asked over the years and their response. These questions often start with “My Mate Says…”, and unless your mate is a tax advisor, always seek professional advice!
We welcome your questions, don’t feel shy, feel free to share using the hashtag #MyMateSays. Some may even get posted as a blog (anonymously of course).
Please email them to:
P.S. Keep your eyes peeled next week to find out what you can/cannot claim whilst working from home!
Posted in: My Mate Says