It might cost money to make money, but claiming any allowable expenses can help lower your tax bill. Read our information guides to find out what you can claim, as well as what records you need to keep about the expenses going through your business.
As a sole trader, you’ll be used to handling everything yourself. From marketing to sales, and everything in-between, it’s down to you. It means that you’re also liable for everything financially, including those tax bills. That’s where expenses come in. It might not sound very exciting, but keeping track of your expenses can significantly reduce…
Lots of people decide to use their personal mobile number when starting a business, as the most straightforward way to get going. If you are thinking of using your own phone as the business line though, just remember that this can affect how you claim expenses, the image it presents, and even what happens as…
It’d be great if all of the money flowing around your business was only that coming in, but the reality is that if you want your business to thrive you need to spend money on it. This sort of spending, or any payment which happens for the business, is a business expense. You need to…
How can you be sure that you allocate costs for your business accounts in such a way that your profit figure is accurate about the state of play? It’s not always clear cut which business costs you should include in your profit and loss account….
When you are growing your business, every penny counts. Learning what you can and can’t claim as expenses on your taxes is essential, as this will not only save money but will also ensure that you don’t fall afoul of the HMRC at the end of the year. To ensure you don’t lose out and…
