Master Your Expenses with Confidence

Understanding what you can claim as a business expense is key to ensuring your tax return is accurate and efficient. Below is a breakdown of some of the most common categories of allowable expenses for businesses and the self-employed.

1. Office, Premises & Equipment

Costs associated with your place of work and the tools you use.

• Business Premises: Rent, business rates, utilities, and property insurance for your commercial property.
• Working From Home: You can claim either a simplified flat rate from HMRC or a proportion of your actual household bills (like internet, utilities, and council tax) based on business use.
• Office Supplies: Everyday costs such as stationery, printer ink, postage, and software subscriptions.
• Technology & Equipment: Business-related computer hardware, software, phones, and other essential equipment.

 2. Travel & Accommodation

Expenses incurred while travelling for business purposes.

• Vehicle Expenses: You can claim either a simplified mileage allowance (45p per mile for the first 10,000 miles) or the actual running costs of your vehicle, such as fuel, insurance, repairs, and breakdown cover.
• Business Travel: Fares for business-related trips on trains, buses, planes, and taxis.
• Accommodation: Hotel costs and necessary meal expenses for overnight business stays.

 3. Staff & Training

Costs related to employing and developing your team.

• Staff Costs: Salaries paid to employees, employer’s National Insurance contributions, and other staff-related benefits.
• Training & Development: Costs for professional courses or training designed to improve skills and knowledge within your business.

4. Marketing & Professional Fees

The costs of promoting your business and getting expert advice.

• Marketing & Advertising: Expenses for promoting your business, such as online ads, print marketing, and website maintenance.
• Professional Fees: Payments made to accountants, solicitors, or other professional advisors for business matters.

5. Business Overheads & Subscriptions

Essential running costs and materials needed for your trade.

• Stock & Materials: The cost of goods you buy to sell on, or any raw materials you use to produce goods.
• Business Insurance: Premiums for policies such as public liability or professional indemnity insurance.
• Subscriptions: Membership fees for professional organisations and subscriptions to relevant trade journals.