Self Assessment - Allowable Expenses

[bcm_spark]

Evening all, hope you are all keeping busy!

I just wondered what amount people claimed for things such as heating, washing of clothes, use of a room (if using a room at your house), dog (security?), vehicle depreciation, anything else?

Ive got a list of my usual expenses - fuel, phone, van servicing, tools etc but im unsure on what amounts for the above. I have also been told that I can claim for £300 worth of tools without receipts but im not sure about that!

 

[Spudnik]

Maybe you accountant may be able to help?

These expenses are played very close to their chests, and there are not even any guides on the web relating to these.

Basically, its so you pay as much tax as possible.

You would be surprised what you can claim once you know.

And no, im afraid i dont either!

 

[bcm_spark]

Well ive worked out from my receipts that I am owed about £700-£800. However, I know I can claim for those items above and maybe more. I guess it is a case of working out how much it costs for these things - washing £10 per week, room rent inc heating electric £30 per week, security (dog) min wage ;-) etc etc

 

[scotsparky]

Clothes, Printer ink for forms, all stationary,Fuel (obvious), Meals for 2 or more (Bussiness meatings) Internet access for communications, Telephone,i will think up more but just back from pub

 

[bcm_spark]

Cheers Scotsparky. I read on the self assessment that you cannot claim for entertaining clients even if it does lead to more business so that loses me a few hundred quid straight away. I could do with knowing how much you can claim for those items that I do not have receipts for.

 

[scotsparky]

bmc not sure i am not self employed sorry just remmembered what my dad who was claimed. He did keep reciepts for everything then handed them to an accountant.

 

[isitintheregs]

Hi bcm spark. I have been self employed for many years and do my own tax return. Her Majesty's Revenue and Customs (HMRC) are there to gather as much money from you as they can but at the same time will help you with questions such as those you are asking. Make an appointment to see someone at the office where you submit your Self Assessment Return and they will advise you as to what you can and can't claim. Remember, if you don't ask you won't get. They are unlikely to volunteer information! If you fall into the bracket of paying high amounts of tax then you would probably be better of employing an accountant. Oh, and yes, claim for use of home, laundry, % of home phone, gas, & elec bills. Security equipment for your van, .........the list is endless but oddly not clothing. You could wear that Snickers garb in bed!
Good luck.

 

[dragon-av]

Hi bcm spark. I have been self employed for many years and do my own tax return. Her Majesty's Revenue and Customs (HMRC) are there to gather as much money from you as they can but at the same time will help you with questions such as those you are asking. Make an appointment to see someone at the office where you submit your Self Assessment Return and they will advise you as to what you can and can't claim. Remember, if you don't ask you won't get. They are unlikely to volunteer information! If you fall into the bracket of paying high amounts of tax then you would probably be better of employing an accountant. Oh, and yes, claim for use of home, laundry, % of home phone, gas, & elec bills. Security equipment for your van, .........the list is endless but oddly not clothing. You could wear that Snickers garb in bed!
Good luck.

There are some very helpful courses you can go on (at local tax office) i did one when i started, YOu can claim a % of elec, gas etc if you have an office at home (spare bedroom with desk counts even if you do your quoting and invoiceing on the sofa.... (reminds me i need to send a couple out!) With the course and being sensible you should be able to work it out yourself. KEep reciepts for everything and if you work "on site" alot you can claim for things like parking, lunch, hotels etc. Tools are trickier i think they class any tool over £100 as capital expenditure. You can claim for having Clothes Logo'ed up so just get it all embroidered for £15 a shirt with a free shirt etc