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Previously on "Sole Trader - allowable expenses"

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  • wurzel
    replied
    Originally posted by SallyPlanIT View Post
    Providing that they are expenses incurred to enable you to perform your work, then, yes they are.
    You would need to declare the income and expenses on your self-assessment tax return.
    Originally posted by Clare@InTouch View Post
    In general they are the same, but there are some subtle differences. Food is one - a self employed person cannot claim for subsistence but a limited company employee can:

    Wholly & exclusively: expenditure having an intrinsic duality of purpose: food and drink

    It's worth reading through the HMRC website for each expense you want to claim, just to double check. Or get an accountant to review your tax return before you submit it.
    Thanks

    Leave a comment:


  • Clare@InTouch
    replied
    In general they are the same, but there are some subtle differences. Food is one - a self employed person cannot claim for subsistence but a limited company employee can:

    Wholly & exclusively: expenditure having an intrinsic duality of purpose: food and drink

    It's worth reading through the HMRC website for each expense you want to claim, just to double check. Or get an accountant to review your tax return before you submit it.

    Leave a comment:


  • SallyPlanIT
    replied
    Providing that they are expenses incurred to enable you to perform your work, then, yes they are.
    You would need to declare the income and expenses on your self-assessment tax return.

    Leave a comment:


  • wurzel
    started a topic Sole Trader - allowable expenses

    Sole Trader - allowable expenses

    I spent a few months of a recent contract in Spain technically working as a sole trader with the agency paying me direct into my personal account.

    My question is, are the same expenses allowable as if I'd been working through my Ltd company, i.e. accomodation, travel, subsistence etc. Thanks in advance.

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