claiming for expenses

Discussion in 'Managing Your Business' started by petehughesy, Jan 6, 2012.

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  1. petehughesy

    petehughesy Guest

    just sorting my tax return out and wondering what you guys claim for, i claim for the usual stuff, but i know people who claim for all sorts, just after some advice
     
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  2. James

    James Guru
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    Claim for everything and anything, equipment, for example, work shoes, trousers etc. Petrol/Diesel. I even claim for train tickets for work venues. It's amazing what you can claim for, just research it on the net.
     
  3. Hinty

    Hinty Well-Known Member
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    If in doubt - give the inland revenue a call and ask them if you can claim - they are usually quite helpful.
     
  4. James

    James Guru
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    +1 for this, they've saved my ass a couple of times.
     
  5. windyman

    windyman Well-Known Member
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    Yep I claim for all things work related.

    BUT- Spoke to my accountant & HMRC & they both told me, that as a sole trader, you CANNOT put through as an expense work that you buy.

    Im buying work for £4000, and I can't claim it as an expense- So that's £800 of tax im not going to save- Doh.

    Most folk dont realise that- I didn't!
     
  6. James

    James Guru
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    but windyman you now have more work!!! : D
     
  7. windyman

    windyman Well-Known Member
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    I know yea. It's just I'd like to save the £800 tax bill as it IS a work expense, no questions. It's a technicality that I cant claim it. If you bought a £4000 van system, you'd claim that as expenses.
     
  8. Hinty

    Hinty Well-Known Member
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    Could you pay a canvasser for work?????

    :)
     
  9. James

    James Guru
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    Yeah the system kinda sucks like that unfortunately :(

    & Yes I guess you could pay a canvasser for work Dave!

    James.
     
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