If you’re self emplopyed and need a little help with knowing what you can and cannot claim on your tax return then you’ve come to the right place. In this post we will give a list of what you’re allowed to claim as expenses.
For travel costs you can claim different expenses on how you travel. If you use your own car you can claim vehicle insurance, repairs, parking and fuel (only business usage).Other claims can include vehicle license fees, breakdown cover, hotel rooms, meals on overnight business trips and train, bus, air or taxi fares.
There are a few claims you cannot make for example you cannot claim for non business travel, fines so parking or speeding and travel between work and home. These do not count as business expenses and will have to be paid by you.
You may use part of your house for the business. You can only claim for the expenses used by that such as utilities used, rent, property insurance and security.
Some other expenses you can claim are:
- Clothing (unfiroms, protective gear)
- Resellable goods (stock or raw materials)
- Advertising in newspapers
- Subscriptions (trade journals)