Whether a claim for the cost of work clothes is tax deductible is covered by the general rule for deduction of any expenses incurred by an employee. Statute states that any expense incurred is allowed if the employee is obliged to incur the expense and that amount is incurred ‘wholly, exclusively and necessarily in the […]
Expenses incurred by an employee on behalf of a company can only be reimbursed under the ‘wholly, exclusively and necessarily’ rules for work undertaken ‘in the performance of the duties of or employment’. It is not enough for the expense to be relevant to the job, or to be incurred in connection with the duties
We are increasingly hearing more and more about artificial intelligence (AI) and how its use can change our way of working both now and in the future. AI is constantly evolving, but it generally involves machines using statistics to find patterns in large amounts of data, perform repetitive data tasks without the need for human
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People set up in business for a variety of reasons. For some it is a dream that becomes a reality some years later. In working towards that dream, they may purchase items before the business starts to trade, to enable the business to trade, rather than for the purposes of the trade, e.g. a professional
