How Diamonds Can Save You Tax!

I just read a great article in The Observer where the journalists stats that top sportsmen like David Beckham are able to claim things like Diamond Earrings against their tax bill!

Tax experts have also confirmed that some of England's young millionaires may even be able to claim their haircuts, diamond earrings and sports cars as tax-free 'business expenses'. This weekend MPs called on the Chancellor to take action.

http://observer/business/story/0,,1789682,00.html

So it begs the question - what do you need to wear to work in order to carry out your duties?

If like many people you have to dress in a smart way when you go to work, or your job depends on your image (models, hairdressers etc) you may well be able to offset the cost of your jewellery against tax.

Whilst I think that you would be hard pressed to qualify for this kind of relief it must be worth a try!