Allowable vs. Disallowable Expenses: HMRC Rules & Director’s Loan Account Guide
When managing your company finances, understanding allowable and disallowable expenses under HMRC tax rules is crucial. One common question directors face is whether food and travel expenses—which aren’t allowable for tax deduction—should be booked as an expense and later added back in the tax return, or whether they must go into the Director’s Loan Account (DLA).