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What expenses can be claimed by a sole-trader?

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:

  1. Travel expenses (everything apart from ordinary commuting)
  2. Subscription paid for the business
  3. IT expenses for business.
  4. Meeting expenses and lunches
  5. Laundry expenses
  6. Tools and equipments if purchased
  7. Repairs and maintenance
  8. Stationery and postage
  9. Courier charge
  10. Employees wages
  11. Director wages
  12. Capital items like laptop, cameras etc purchase
  13. Office Rent
  14. Utilities, water, light and heat
  15. 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

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About Us

After being in the practice for more than a decade, we found out that when it comes to taxes almost every clients are paying more than they are supposed to. Their traditional accountant were not up to date with the rules and it was costing the client heavily in terms of taxes. Hence we incorporat..