What is Dis-incorporation?

Dis-incorporation refers to the process of transitioning a business or trade from its existing status as a limited company to a different legal structure that is not incorporated, such as a sole trader, an unincorporated partnership or an unincorporated association.
A sole trader (a single individual running the business), an unincorporated partnership (a business run by multiple individuals without a formal legal structure), or an unincorporated association (a group of people working together without a formal business entity.)

It's crucial to recognise that dis-incorporation can bring about various tax implications. To successfully navigate these complexities while ensuring both legal compliance and financial benefits, it's imperative to seek the guidance and expertise of a professional accountant.

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The golden rule when claiming business expenses is that the cost must be “wholly and exclusively” for business purposes. So, where do you stand when it comes to food and drink? After all, everyone needs these things to survive. When does it become an allowable expense? Read on to find out when your business can claim food and drink as an expense.

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Accountants in Haslemere, Surrey

We are qualified accountants providing personal and professional services for start-ups, established companies and individuals in and around the Haslemere area in Surrey. With the rise in technology, we have embraced the digitisation of accounting using efficient digital accounting tools to offer reliable services to our customers. Our goal remains to get our clients the best accounting and taxation services at the most affordable rates.

Onsite Canteen and Lunch Vouchers - Are They Taxable?

The provision of food and drink to an employee by their employer is a lovely thing to do. Eventually, it promotes teamwork, loyalty, a sense of belonging and even improves productivity. Taking it at face value makes it look like a simple act of kindness. However, unless it is done correctly, it can cause tax and national insurance compliance issues for the employer.

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Information provided on the site is merely guidance that may change in line with UK law and regulations. Users must not consider this to be financial advice or their sole resource when making any financial decision. Spondoo is a trading name for Accounting SQL Limited, authorised & license accounting firm under the Institute of Financial Accountants.

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