Are you self employed?

For small businesses there are several expenses that you can claim against your income, these include:

Mileage expenses at 45p for the first 10,000 miles and 25p thereafter, this is allowable if you do not claim motor expenses, such as insurance, MOT, fuel.

Premises expenses that relate directly to business premises are allowable. If you use a home office for preparing paperwork etc then you are entitled to claim an allowance against your household expenses. The HMRC agreed rates are:

Hours of business use per month

2013 to 2014 flat rate per month

25 to 50

51 to 100


101 and more


Subscriptions are allowable if they are for an association linked to your trade or profession.

Specialized clothing can be allowable if the item of clothing cannot be used for everyday use, such as protective boots or trousers.

Subsistence can be claimed if you have to travel outside your normal working area.

If you need help preparing your accounts or tax return and would like more details on the above, please contact Sarah Smith for a free no obligation meeting to discuss your requirements.