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Claiming

I use cash basis accounting as it is easy

If you use cash basis accounting and buy a car for your business, you can claim this as a capital allowance. However, all other items you buy and keep for your business should be claimed as allowable expenses in the normal way.

Office, property and equipment

Claim items you’d normally use for less than 2 years as allowable expenses

my tools and equipment will need replacing within 2 years as far as anyone is concerned

 
i put the receipts for absolutely everything i spend into my accountant and let him worry about how he is going to convince HMRC that i need fruit pastels

daveyboy1, I'm almost certain if HMRC check "nike air max" they would not allow that, i may be wrong but from memory they will only entertain approved footwear, such as PPE.

The way i was told was "if hmrc think you can wear it at any other point apart from work, then its not a tax deductible item"

for eg: you could wear your trainers to the cinema, but you wouldn't wear a pair of steel toe cap boots to the cinema.

thats how i have been taught, if I'm wrong then fair enough, just a heads up. but i would also think HMRC won't even be that bothered about a £70 outgoing once a year

 
I wore my toecaps to tesco earlier. .shall i bin the receipt now? ? Lol

The way I have always done it is if i wear it for work it is an expense

If i choose to wear trainers that is my choice

Taxi drivers don't wear ppe but I'm sure they claim for work clothes

 
No worries mate

I just submit my receipts if asked and thats it..never been questioned yet..however there is still time

 
There's a difference between capital and business expenditure. Capital putting value on your company and business being broadly consumables. They are treated differently by hmrc.

Safe.

 
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