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UK Window Cleaning Forum => Window Cleaning Forum => Topic started by: L.J.Thorpe on March 07, 2011, 12:34:05 pm

Title: Insurance claim,tax deductable???
Post by: L.J.Thorpe on March 07, 2011, 12:34:05 pm

Have got to pay claim on my insurance for flat roof damage (like wet cardboard ::))
anyway can  the excess fee go down against tax!!!! ???
thanks

Title: Re: Insurance claim,tax deductable???
Post by: H S and Son on March 07, 2011, 12:56:20 pm

I believe so. It is a cost that is directly attributable to your business.

I paid out of my pocket for a couple of tiles I broke on a roof a couple of years and put the cost through the books, the account didnt say anything about them and put them through.

Title: Re: Insurance claim,tax deductable???
Post by: Dick on March 07, 2011, 06:25:54 pm

As long as it's a legit business expense, keep details of the claim in your files just in case.

Title: Re: Insurance claim,tax deductable???
Post by: Paul Coleman on March 08, 2011, 06:54:52 am

Quote from: L.J.Thorpe on March 07, 2011, 12:34:05 pm

Have got to pay claim on my insurance for flat roof damage (like wet cardboard ::))
anyway can  the excess fee go down against tax!!!! ???
thanks

I did offset my excess fee against tax when there was a claim against me in a car accident some years ago.  It was my van and I only use 85% of that for business so I offset £85 of the £100.  I ran it by my accountant and he was OK with it.