When you start your business, or when completing your tax return, you may wonder what expenses you can claim.

Obvious ones are materials purchased to make your products. Here is a quick guide to some of the others.

Work from Home

These mainly cover light, heating and can be calculated using a percentage of these costs linked to the floor space of your home, or using a daily flat rate amount set by HMRC.

If you use internet at home, and your personal mobile for business use, you can also claim a percentage of those costs.

Advertising, marketing, stationery, computer hardware and software are also allowable expenses.

Out and About

If you have a car that you use for business you can either claim a mileage rate of 0.45 per mile or a percentage of the running costs. Business use is considered to be visiting clients, purchasing stock and supplies, a temporary place of work or attending courses and business events. Parking costs (excluding fines) and tolls can also be claimed.

Other Expenses

Bookkeeping & Accounting Fees, Training Courses (only for maintaining a current skill) Uniforms (not general clothing i.e a suit etc) and safety clothing can be claimed. Food if you are working away, but not your daily tuna sandwich. Bank fees, Paypal charges and interest on loans can also be claimed.

This is not an exhaustive list, but will give you a general idea of what you can and cannot claim.

If you have any other queries relating to claiming expenses, please do not hesitate to contact ANB Bookkeeping, or even better let us prepare the Self Assessment for your own peace of mind.