What expenses can I include in my Self Assessment tax return?

What expenses can I include in my Self Assessment tax return?


you’re self-employed which means you
have essential costs to keep your business running you can deduct these
costs called allowable expenses to work out your taxable profit but remember if
you’re using the 1000 pound tax-free Trading allowance you can’t claim any
expenses allowable expenses include office property and equipment travel
including cars and vans staff any legal and financial costs and marketing and
subscriptions you can’t claim for anything you spend on personal things
such as your home and accommodation food clothing holidays and anything you buy
for you and your family you may want to use simplified expenses
this means you claim a flat rate instead of working out the actual costs for
example for car travel you can claim 45 pence a mile up to ten thousand miles
and then 25 pence a mile over this amount if your income is eighty-five
thousand pounds or more you’ll need to list each expense individually under the
appropriate heading this also applies if you didn’t trade a full year but would
have earned this amount or more if you had for example your income for six
months was fifty thousand pounds so in 12 months it would have been one hundred
thousand pounds if your income is less than 85,000 pounds it’s up to you
whether you give us your total amount of expenses or list them individually it’s
important you keep records and proof of your business costs you’ll need them to
complete your Self Assessment tax return sometimes we ask to see these but please
don’t send them with your return you can find more information about Self
Assessment on GOV.UK

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