What to do when Inland Revenue calls
When Inland Revenue says your business is to be audited, be prepared and don’t panic. You may even come out with a tax rebate.
When Inland Revenue says your business is to be audited, be prepared and don’t panic. You may even come out with a tax rebate.
You sell the odd hand-knitted scarf to friends, or maybe you sell your knitwear every week at local markets. Is this a hobby, or a business?
You can claim the cost of many daily expenses when travelling for work. If the trip is part business, part holiday, you can only claim work-related expenses.
If you regularly sell online, you are “in trade”. This means paying tax and complying with consumer laws.
If you’re an employer, it pays to understand the different obligations you have to employees and to contractors — there are costs to getting things wrong.
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If you’re a new business doing R&D work — and operating at a tax loss — you might be entitled to some cash. Find out how…