Reclaiming accountancy fees?

[andrew_xlb]

Hi,

I am new to contracting, and am currently using an umbrella company called Liberty Bishop - not bad, but obviously now want to set up my own ltd company to save paying my hard-earned money to these people!

I am looking for a good accountant at the moment, and may end up going with a small local firm to ensure a personal approach..but what is this I have read abouot being able to claim accountancy fees as a business expense? Does this mean I can claim back everything I pay for accountancy services? Or just the VAT??!

Thanks

[r0bly0ns]

It just means that whatever your company pays your accountant is not classed as profit and therefore your company does not have to pay corporation tax on it.


I reccomend Upton Accounants, give them a call....

[malvolio]

Actually it means you need to read the guides, carefully. If you don't understand that bit, you don't understand an awful lot that you haven't even thought about...

There's one on this site, one on www.pcg.org.uk and one on SJD's website which is a bit more focused on financial management. Read all three of them.