What are the most common expenses?
There are two ways to claim your self-employed expenses when you do your tax return:
- If you haven't been keeping track of your expenses, have been paying mostly by cash, or have expenses £1,000 or less - you can remove all the hassle and just use the £1,000 self-employed trading allowance.
- Alternatively, if you have more than £1,000 in expenses you’d like to claim,
you can claim them individually using receipts or bank statements.
Work expenses you can claim with proof include:
- Lease payments
- Accounting fees
- Bank fees