UK Sole Trader Allowable Expenses: The Complete Guide
If you’re a UK sole trader, working out which costs count as allowable expenses is one of the most valuable things you can get right – every pound of a genuine business cost you claim is a pound that doesn’t get taxed as profit. It’s also an area where people go wrong in both directions: under-claiming out of caution, or over-claiming out of guesswork, and the second risks an HMRC enquiry. This guide covers the main categories of allowable expenses, what falls outside them, the principle HMRC applies to every claim, and why good records matter more than ever now that Making Tax Digital is rolling out. Where a specific rate or threshold is involved, we’ll point you to gov.uk rather than guess.
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