Claiming for Clothing When You’re Self-Employed

claim for clothing as a tax deduction

When you’re self-employed you want to claim everything possible to reduce your tax bill. So it is very common for me to be asked whether clothing can be claimed as a tax deductions. It is a grey area, with what is tax allowable being different according to professions and industries. Here is the advice I (more…)

Claiming Food When You’re Self-Employed

claiming food when you're self-employed

If you are travelling around for business reasons it can mean food ends up costing you more money than normal. Especially if you work from home! There are rules that allow you to claim for food when you’re self-employed helping you to reduce your tax bill. When Can You Claim for Food Generally speaking, you (more…)

Self-Employed Tax Rates 2019/2020 (and 2018/2019)

Self-employed tax rates 2019/2020

The 2019/2020 tax year begins on the 5 April 2019 and if you are self-employed here are the new tax rates that will affect you. Personal Allowance The personal allowance is the amount you are allowed to earn tax free. The Personal Allowance you are entitled can increase if you claim the Marriage Allowance or Blind Person’s (more…)

How to Reduce Your Tax Bill if You’re Self-Employed

how to reduce your tax bill if you're self-employed

Your tax bill can be the biggest bill that you need to handle when you’re self-employed. But there are ways you can reduce your tax bill if you’re self-employed while staying on the right side of the tax man. How to Reduce Your Tax Bill if You’re Self-Employed Here I share with you 10 ways (more…)

Making Tax Digital for the Self-Employed

making tax digital self employed

If you’re self-employed, then HMRC’s Making Tax Digital will change the way you have to handle your taxes. What is HMRC Making Tax Digital Making Tax Digital is the total digitisation of the UK Tax System. What that means is that if you are self-employed you’ll need to: Keep digital business records; Report figures quarterly (more…)

Claiming Business Travel When You’re Self-Employed

business travel self-employed

Knowing what and how to claim business travel when you’re self employed is a confusing area.  To help clarify, here is my guide to what you can and can’t claim as business travel when you’re self employed. Along with a free download to help you record your expenses.

Tax Tip for the Self Employed: Claiming Home Office Expenses

Self Employed Tax Tip: Claiming Home Office Expenses

If you are self employed and work from home, then there are two methods you can choose from to claim for the cost of your home office against your taxes – a flat rate amount or a percentage of your homes actual running costs. The Flat Rate Method of Claiming For Your Home Office The (more…)

How to Get a Self-Employed Mortgage

Getting a self-employed mortgage

When you are self-employed getting a mortgage is not impossible. But it can be a little bit trickier than for someone who is in full-time employment, so you may need to do a bit of planning. Managing your finances is essential to getting a self-employed mortgage. Not just to improve your eligibility. But it will (more…)