Does your business use both employees and contractors? It’s important to distinguish between them as they are paid and taxed differently. Despite what you may call the individual concerned, that description is not definitive. If the status of the worker is questioned...
Apps and digital tools aren’t just for desk workers. There are plenty out there to help streamline your farming processes, saving you time and money. Xero: when you’re out and about on the farm, it’s helpful to manage accounts on the move. Xero enables you to invoice...
Incurring expenses is an unavoidable fact of running a business. But which expenses can you claim tax deductions against and which don’t meet the tax-free criteria? Here’s our lowdown on which expenses you can claim against tax. Which business expenses can you claim...
Partnerships and sole traders can use Inland Revenue’s motor vehicle deduction rules to claim income tax deductions for motor vehicle expenses for vehicles used to help earn income for the business. If the vehicle is not used exclusively for the business, you are not...
As a new business owner, it’s important you understand the provisional tax system as it affects your business. In your first year of business, you can receive a significant tax deferral. Your first year’s tax bill is, in some cases, not payable until 7...
Are you renting accommodation from your home, through Airbnb or some other way? For tax purposes, short-stay or holiday accommodation is different from accommodation provided to tenants, boarders or care home residents, or student or emergency accommodation. A short...
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