Self-Employed

Allowable Expenses for the Self-Employed UK

An allowable expense is a cost incurred wholly and exclusively for your business that you can deduct from your income to lower your taxable profit. It is not a refund: a GBP 100 expense cuts a basic-rate sole trader's tax bill by about GBP 26 (20% Income Tax plus 6% Class 4 NIC), not GBP 100.

1

Office costs - Stationery, phone and broadband bills, postage, printer ink and the business share...

2

Travel costs - Fuel, parking, train, bus, air and taxi fares, hotel rooms and vehicle running costs...

3

Clothing - Uniforms, branded kit, protective clothing and costumes only - not ordinary clothes you...

4

Staff costs - Salaries, subcontractor costs, wages, bonuses, pensions, benefits and agency fees

5

Plus 7 more in the full guide

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