SA103 : Self-Employed-Expenses-What-Can-I-Claim
What types of expenses are there?
Capital - This is the cost of buying, creating or improving a business asset, used to increase profit.
The cost of buying a van for your business would be capital expenditure. Other examples include buying machinery, technology and fixtures.
Business – You can get tax relief for your business costs as long as it's not capital expenditure or specifically non-allowable.
Non-allowable expenses include legal costs of buying property, entertaining clients and payments for non-business costs.
Personal - Private or personal expenditure is what you spend in your day-to-day life, such as wages, costs of goods or services for private use and loan repayments. Private expenditure is non-allowable
What am I allowed to claim as self-employed?
You can claim a business expense as long as it:
Isn’t capital expenditure
Is wholly and exclusively for business
Here is a list of common expenses:
Costs of stock
Repairs to business equipment
Travel expenses but not home to office
Payroll costs for staff
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