Can I claim?
You can claim eligible tax relief on any marketing and advertising costs whatsoever. Promoting your business is one of the most important expenditures for a new self-employed worker. This business investment is entitled to a full deduction against your earnings, so it’s important to keep all records and receipts for on and offline marketing you carry out.
You will find a category for “Advertising” in your Self-Employed expenses section. If you keep good files on your computer and manage your paperwork regularly, you will then just need to retrieve the figures from your records and we will calculate the return for you. Easy right?
So for instance, printing, advertising platform or fees paid to distributors and so on are eligible, as are any kind of promotion in newspapers, samples, websites or any other medium is considered capital expenditure. All expenses incurred for the purposes of promoting your business need to be taken into account for your tax return.
An area of confusion for many self-employed workers and freelancers is promotional work alongside business colleagues. So whilst business network subscriptions are reasonable business costs, it is important to know that entertaining clients or investors cannot be claimed as a marketing or advertising endeavours. This is a mistake made because of the stories we hear of ‘fat-cats’ having lavish dinners or visiting ‘health spas’ in Switzerland for the weekend. Don’t be fooled; the tax man isn’t if you submit ‘entertainment’ costs as an expense!
Well, don’t take our word for it, check out our reviews from other small and medium sized business owners elsewhere on our website! Our customers love how simple we make your self-assessment tax returns.
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