Maximising Your Tax Deductions
A Simple Guide to HMRC Allowable Expenses For Sole Traders.
In the UK, tax and national insurance are due on your business's profits.
Profit for this purpose is sales income – allowable expenses.
If you are newly self-employed, it is a good idea to know from the start what expenses you can offset against your income for tax purposes.
These expenses are called “allowable expenses”.
In this eBook, we provide you with a detailed list of what expenses are tax deductible in the UK so that you have a full understanding of what receipts to claim when preparing your year-end accounts and self-assessment tax return.