Both Limited company and Sole trader can claim similar expenses for sure as long as it is wholly substantially occurred in the business process.
Many people from all different background has confusions on this point and it happens every year when the tax return filing time comes nearer and the sole trader clients especially starts thinking this and that and will start confusing themselves about the claimable expenses.
Below are the few expenses which can be claimed without any questions:
- Travel expenses (everything apart from ordinary commuting)
- Subscription paid for the business
- IT expenses for business.
- Meeting expenses and lunches
- Laundry expenses
- Tools and equipments if purchased
- Repairs and maintenance
- Stationery and postage
- Courier charge
- Employees wages
- Director wages
- Capital items like laptop, cameras etc purchase
- Office Rent
- Utilities, water, light and heat
- Business rates etc etc
If you can confusion on what can be claimed if your confusion is apart from the above mentioned expenses, please call us now on 02071938157 or email on info@mayfairtaxadvisors.co.uk
