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.
Wednesday 31 August 2016
Tuesday 30 August 2016
Travel costs
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.
Tuesday 23 August 2016
Capital allowances
Capital
allowances are claims on your tax return that will have a shelf life of 2 or
more years and cannot be sold on as stock. these usually refer to:
- Vehicles used for work
- Machinery
- Tools
Monday 15 August 2016
Record keeping
You should always keep records to help when it comes to your accounting. Some useful records to keep are:
- bank transactions (business account only)
- cheque stubs
- credit card/company card statements
- invoices
- recipts
- VAT records (if registered)
Thursday 11 August 2016
Self employed help
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:
- Stationary
- Clothing (unfiroms, protective gear)
- Resellable goods (stock or raw materials)
- Advertising in newspapers
- Subscriptions (trade journals)
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