Running your own business is rewarding, but tax time can feel overwhelming. The good news? There are plenty of legitimate ways to reduce your tax bill—if you know what to claim. Here are five often-overlooked expenses that could save you money.
1. Working From Home? Claim Your Costs
If you work from home (even just part-time), you can claim a portion of your household bills:
- Heating & electricity – HMRC allows a flat rate (simplified method) or a proportion of actual costs.
- Internet & phone – Claim the business use percentage.
- Office supplies – Pens, paper, printer ink—keep those receipts!
👉 Tip: Use HMRC’s simplified rates if tracking exact costs feels tricky.
2. Mileage for Business Trips
Forget logging every litre of fuel—just track your miles!
- 45p per mile for the first 10,000 miles (cars/vans), then 25p after.
- 24p per mile for motorcycles.
- Public transport? Full cost of business-related travel is claimable.
3. Professional Subscriptions & Training
If a membership or course helps your business, it’s likely deductible:
- Trade journals, industry memberships (e.g., CIPD, ACCA).
- Online courses or workshops directly related to your work.
4. Bank Charges & Interest
Fees add up! You can claim:
- Business bank account fees.
- Interest on loans or overdrafts used for business purposes.
5. Marketing & Website Costs
Promoting your business isn’t just necessary—it’s tax-deductible:
- Website hosting, domain fees, and SEO tools.
- Business cards, flyers, and paid ads (Facebook, Google).
- Photography or graphics for branding.
Small claims add up to big savings. Keep records (even a photo of receipts works!) and chat with your accountant to maximise deductions.
Need help? We’re here to make tax less taxing! 📞 Get in touch for a free consultation.
