Relief for trading losses

Relief for trading losses

In the event that a loss arises in a trade or profession, consideration should be given as how best to obtain relief for that loss. As with many things, there is no ‘one size fits all’ and the best option will depend on the trader’s particular circumstances. Option 1...
Can we deduct entertaining expenses?

Can we deduct entertaining expenses?

The tax rules on the deductibility of entertaining expenses are harsh and often misunderstood – the fact that the expenditure is incurred for business purposes does not make it deductible. Subject to certain limited exceptions, no deduction is allowed for business...
What is an EORI number and who needs one?

What is an EORI number and who needs one?

An economic operator registration and identification (EORI) number will be needed for UK businesses to be able to continue to trade with the EU after the UK leaves the EU. If there is a no-deal Brexit In the event that the UK leaves the EU without a deal, an EORI...