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Ask Your Own Question, Chartered Certified Accountant
Category: UK Tax
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Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
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We are considering starting a UK company for a holiday let

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We are considering starting a UK company for a holiday let business in Portugal,I am portuguese resident and many of my clients are english. would you know if we could charge our portuguese expenses (fuel, communications etc) to a UK company? Can you forsee any problems with this set up?
Hello and welcome to the site. Thank you for your question.

For an expense to be allowable for tax purposes, it should have been incurred wholly and exclusively for business.

If the UK company will be reporting the income for holiday let in Portugal, then I don't foresee any problems with it bearing expenses incurred in Portugal.

I hope this is helpful and answers your question.

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