Facturas/Bills that Companies or the Self employed or “Autonomo” workers can put through their books. There´s no big secret, only this – invoice, invoice, invoice! Cars or Vans A vehicle that is in the company’s name can claim for petrol, services, new parts, brakes, etc with a proper invoice. Do not be fooled by lazy tradesmen or petrol stations - get proper invoices with CIF or NIE numbers (if autonomo) on all invoices. A vehicle on a long term rental contract makes sense; you receive a monthly invoice with IVA which is reclaimable through your books. With a long term rental / lease, you do not have to worry about running costs such as insurance, car tax, servicing etc. Industrial vehicles (vans) can get 100% IVA deducted, whereas regular cars can reclaim 50% of IVA. Again, the vehicle must be in the persons or company name. Telephones; Landlines, Mobiles and Internet services. Yes, you can claim for these, obviously the larger companies provide you with proper invoices, but watch out for the small independent companies; check their invoices are correct and have your details on them as well as theirs. Please remember though, that you can only put through your work phone; not your house line and all your family members phones! Electric / Water Bills If you work from home as an autonomo, you can put your electric and water bill in, it will be taken into account as a percentage of the total. If you have office or business location, your bills will count 100% against tax. Raising Invoices Running a business in Spain not only must you insist on invoices with IVA on them you must also issue invoices for your services or goods that you sell. The invoices that you issue must correlate, be in date order and numbered. A correct invoice must have the name, fiscal registered address and CIF/NIE number of both parties. Banking Make sure that you have a separate bank account for your company or business – never, ever mix your personal banking with your business banking!! When money is being paid in or out of the bank account, make sure that you label/reference what it is for, eg. Payment of invoice no, Rent for month of, etc. Control and organisation with banking is imperative. As often as possible, pay via transfer or card – try to use cash as little as possible. If you are making and/or receiving payments in cash, remember the law changed last year, and no payments may be made or received in cash for over 2.500 euro. Rents and Mortgages Depending on circumstances, most or some of your rent or mortgage repayments will be taken into account for the end of the year taxes. Food & Drink Unless your business is food or drink related, you may not put your shopping through the books! If the business is food or drink related, make sure that you get invoices from your suppliers, iepanies that deliver to you. Other purchases that you make at local shops, GM Cash & Carry, Mercadona, etc can also be set up on a monthly invoice system. Ask in each place, as each one will probably have a slightly different way of doing this – but they will all be able to provide you with invoices. List of tax deductible expenses (depending on circumstances, type of business,etc) Accounting and Legal fees Advertising, Marketing and Publicity Auto expenses Bad debts that you cannot collect Banking fees Building repairs and maintenance Business association membership dues Business travel, eg. Flights, taxis (not all, though) Charitable deductions made for a business purpose Cleaning/janitorial services Commissions paid to outside parties Computers and tech supplies Consulting fees Continuing education for yourself to maintain licensing and improve skills Conventions and trade shows Credit card convenience fees Depreciation Discounts to customers Education and training for employees Equipment and repairs Exhibits for publicity Franchise fees Freight or shipping costs Furniture or fixtures Health insurance Home office / Rent Interest on loans Investment advice and fees IT equipment; computers, laptops, projectors, etc Management fees, Maintenance Moving services Office supplies, materials and expenses Payroll taxes for employees, including Social Security , wages Parking and tolls Payments, capital/interest of Mortgages or Loans Safe-deposit box and/or safe Software, Internet hosting and online services Storage rental Subcontractors Taxes Telephone Uniforms Website design ** IMPORTANT NOTE : PLEASE REMEMBER THAT ANY EXPENSES MUST BE DIRECTLY RELATED TO YOUR BUSINESS AND NECESSARY, TO BE DEDUCTIBLE
Posted on: Wed, 28 Aug 2013 09:34:55 +0000
Trending Topics
Recently Viewed Topics
© 2015