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What is tax deductable and what isnt; is there a list?

  • Thread starter Thread starter dwilz
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dwilz

Just started working for myself in direct sales
Is there a list guide somewhere to advise on what is and what isnt

2 things that would really help

a. Vehicle expenses ?
fuel etc

b. lunch allowance/entertaining
 
You need to register with the HMRC as self employed within 3 months. Also look on their website for the notes for self employed for details on allowable expenses.

If you do a search in this forum the link has been posted a number of times.
 
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thankyou I looked at the webpage for self employed HRMC allowances
but not very helpful.
I own my own car and was wondering what, if any, percentage is deemed to be my own personal use on, for example
£1000 worth of fuel receipts
or do I have to work it out in miles
 
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Have a look at the sticky on sole trader v limited as there is a link for use of home as office - look at the one for a sole trader assuming this is what you are.

All your expenses have to be wholly, exclusively and necessarily incurred for your business. You will not find a full list but the notes to the SA103 will help. This is the self employed self assessment form that you must complete each year:

http://www.hmrc.gov.uk/worksheets/sa103f-notes.pdf

See pages SEN 6 and 7
 
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Allowable car expenses:

Car and van insurance, repairs, servicing, fuel, parking, hire charges, vehicle
licence fees, motoring organisation membership; train, bus, air and taxi fares;
hotel room costs and meals on overnight business trips

Disallowable:

Non-business motoring costs (private use proportions); fines; costs of buying
vehicles; travel costs between home and business; other meals
 
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Thankyou thats really helpful
You mention non business motoring costs (private use proportions)
Is there a listed percentage by the tax man
for instance
My milage is likely to be quite high
lets say 1000 miles per week
My personal use may account for just 5 miles to do the shopping etc
would the tax man accept that, or is he just going to slap a percentage of 30% as personal use
 
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Thats really helpful thankyou Elaine
What about luch expenses and entertaining
as I am going to be on the road is there an allowance ?
 
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The link you gave me isnt active.....
hmrc.gov.uk/worksheets/sa103f-notes.pdf

but basically there is no allowance for lunch etc?
 
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Many thanks

I have sorted it it was a browser problem
firefox didnt like it
but ok with explorer
And thanks for your help much appreciated
 
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