Self-Employed Expenses: What Can I Claim?

self-employed paying tax

What types of expenses are there?

Capital - This is the cost of buying, creating or improving a business asset, used to increase profit. The cost of buying a van for your business would be capital expenditure. Other examples include buying machinery, technology and fixtures.

Business – You can get tax relief for your business costs as long as it's not capital expenditure or specifically non-allowable. Non-allowable expenses include legal costs of buying property, entertaining clients and payments for non-business costs.

Personal - Private or personal expenditure is what you spend in your day-to-day life, such as wages, costs of goods or services for private use and loan repayments. Private expenditure is non-allowable

What am I allowed to claim as self-employed?

You can claim a business expense as long as it:

  • Isn’t capital expenditure
  • Isn’t non-allowable
  • Is wholly and exclusively for business

Here is a list of common expenses:

  • Costs of stock
  • Repairs to business equipment
  • Travel expenses but not home to office
  • Professional fees
  • Finance costs
  • Administration
  • Payroll costs for staff

Register with SimpleTax to:

  • Save money on your taxes
  • Simplify dealing with HMRC
  • Make this year’s tax return simple


Other Keywords: sole trader; freelancer; agency; business; sub-contractor; private; umbrella; trade; SE

The friendly way to do your taxes online.

SimpleTax automatically tells you what expenses you should be claiming, what you should watch out for and ways to lower your tax bill.

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