Firstly, excuse the blog silence of late but with the recent addition of Henry to our family, time has been a little trickier to find. Henry is pictured below very recently at 4 weeks old. His big sister Jessica is SUPER proud of him as are Mummy and Daddy :)
On to the blog... we get asked lots of questions from our clients and potential clients and one of the most commonly asked is "What expenses can I claim?" This varies depending on what type of work you do but below is a brief guide of some of the costs that you could get tax relief on.
The list is in no particular order and it does not cover every eventuality but it'll give you a good idea;
The main point to remember is that if you are self employed you can claim for any expense as long as it is “wholly and exclusively” for business use.
If an expense has a "duality of purpose" you can only claim the business proportion. An example of this would be mobile phone or travel costs. 100% of the cost would not necessarily be business related and therefore you should only claim the business proprtion.
It can be tricky to quantify the business/private proportion and an accountant can help you with this.
As always if anyone has any questions at all with regards to the above or any other question, even if you are not a client we are always happy to help.
We've got some exciting changes coming to our website soon that will enable us to keep up with the demand of new clients coming on board. We are proud of how our business continues to grow. For us, it's all about customer service and making tax simple! The new live chat function on our website helps this and has been working well recently.
If anyone has any suggestions for future blog posts, feel free to let us know.
Enjoy your week, it's nearly Friday!