HK Accounting Services

17/06/2026

17/06/2026

🚨 INSURANCE ADVISERS: ARE YOU CLAIMING TOO MUCH GST? 🚨

One of the most common GST mistakes we see is claiming 100% of GST on business expenses when earning a mix of:

✅ Taxable income (advice fees, consulting fees)
❌ Exempt income (insurance commissions)

Many advisers believe they can claim all GST on expenses such as:
📱 Phone bills
🚗 Vehicle costs
💻 Software subscriptions
🏢 Office expenses

However, GST apportionment rules may require you to claim only the portion relating to your taxable activities.

Getting this wrong can result in:
⚠️ GST reassessments
⚠️ Interest and penalties
⚠️ Unexpected IRD reviews

Every business is different, and the correct treatment depends on your income mix and the nature of your expenses.

Not sure if your GST claims are correct? We're happy to review your situation and provide guidance.

📞 HK Accounting Services
📧 Contact us today for professional advice.

15/05/2026

Using your personal car for business? 🚗

You could be missing out on valuable tax deductions.

From fuel and servicing to insurance and mileage expenses, keeping a proper logbook can help maximise your claim and keep you IRD compliant.

Small records today can mean bigger savings tomorrow 💰

Need help with your business taxes?
HK Accounting Services is here to help.



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