What Are Simplified Expenses?

What Are Simplified Expenses? What are Simplified Expenses Simplified expense is a scheme set up by HMRC to help sole traders and business partnerships claim certain expenses using a flat rate rather than working out the actual amounts, which can be tricky to calculate. This scheme cannot be used by limited companies or business partnerships […]

Self Employed – Allowable Expenses

Self Employed – Allowable Expenses What is an allowable expense? So you cannot go ahead and subtract all your self-employed expenses. HMRC has clear rules around what you can and cannot include, the expenses you can include are ‘allowable expenses’. HMRC is trying to make sure that you only deduct expenses that are strictly related […]

Pre-Trading Expenses

pre-trading expenses Did you know you can claim for expenses that incurred before you started trading! Whether you decided to set up as a sole trader, a partnership or a limited company, you’re likely to have spent money getting your venture off the ground, before you have made your first sale. These business set-up costs, […]