Thurrock Accountants, Trueman Brown, discuss what “The 24 Hour Rule” is regarding the cost of employees travel costs between home and work. As a general rule, employees are denied a tax deduction for the cost of travel between home and work. Likewise,...
Local accountants and tax advisers, Trueman Brown, advise taxpayers what to do if they locate and need to correct an error in their self-assessment tax returns. The deadline for filing the 2020/21 self-assessment tax return of 31 January 2022 has now passed. You filed...
What Is the CASH BASIS? Under the CASH BASIS, your taxable profit is determined by considering only cash in and cash out: Income is recognised when you receive it (not when invoiced). Expenses are deductible when you pay them (not when incurred). You do not need to...
Local accountants and tax advisers, Trueman Brown, have some advice for employees who incur expenses in performing their duties for their employers. Employees often incur expenses in doing their job – this may be the cost of a train ticket or petrol to visit a...
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