Questions and Answers
What expenses can I claim in my tax return?
I am organising my receipts for my 2022 Tax Return but unsure what expenses I can claim?
What expenses can be claimed:
- Any goods that you buy for resale
- Employees' pay
- Rent and bills for your business premises
- Running costs for vehicles or machines that you use in your business
- Lease payments for vehicles or machines that you use in your business
- Accountancy fees
- Interest payments for money you borrowed to finance your business
- Expenses you had before your business started trading such as the cost of preparing business plans
What expenses cannot be claimed:
- Personal mileage expenses
- Food expenses – in the case of an employee on a business trip whereby they are forced to eat out or incur food costs that would not be normal, an allowance may be given to cover these costs
- Clothing costs (except protective clothing)
- Accommodation – the cost of accommodation is not allowable. Hotel accommodation incurred on a business trip (where there is no personal motive in the trip) is an allowable deduction
- Client entertainment
- Capital expenditure – e.g. purchase of equipment. You may be able to claim capital allowances on this expenditure
Expenses that are for both business and private use
Tax Credits
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Date published 30 Sep 2020 | Last updated 14 Sep 2023
This article is intended to inform rather than advise and is based on legislation and practice at the time. Taxpayer’s circumstances do vary and if you feel that the information provided is beneficial it is important that you contact us before implementation. If you take, or do not take action as a result of reading this article, before receiving our written endorsement, we will accept no responsibility for any financial loss incurred.Choose the right accounting firm for you
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