If you’re self-employed or run a small business in the UK, you probably already know that claiming allowable expenses can reduce your tax bill. But many people miss out on common claims simply because they’re not sure what counts. Here’s a quick, friendly guide to make sure you’re not paying more tax than you need to!
✅ What Are Allowable Expenses?
Allowable expenses are business-related costs you can deduct from your income when working out your profit for tax purposes.
📋 7 Expenses You Might Be Forgetting
- Home Office Costs
- A portion of your rent, electricity, and internet if you work from home.
- Phone & Internet
- If you use your mobile or broadband for work, you can claim a percentage of the cost.
- Business Mileage
- Keep a log of work-related travel in your own car—45p per mile for the first 10,000 miles.
- Professional Subscriptions
- HMRC-approved memberships (like accounting bodies or trade associations) are claimable.
- Office Supplies & Stationery
- Pens, paper, printer ink, or software subscriptions like Microsoft 365.
- Marketing & Advertising
- Website costs, social media ads, printed flyers or even business cards.
- Bank Charges & Interest
- Fees on your business account or interest on a business loan.
🚨 Quick Tip:
Keep receipts or digital records for everything—you’ll thank yourself at tax return time.
📞 Need Help?
If you’re not sure what you can claim, or want peace of mind at tax time, get in touch! We help small businesses across the UK keep more of what they earn.
