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Hmrc Update Guidance For Claiming Business Expenses

16th October 2022

New guidance from HMRC to help small businesses and the self-employed access the various tax reliefs available to them was published on 12 October 2022.

Tax-deductible business expenses
If you're self-employed, your business will have various running costs. You can deduct some of these as part of your annual tax return, to work out your taxable profit as long as they're allowable expense.

The list of tax-deductible expenses is long but includes things like office stationery, insurance and bank charges, and even heating and lighting for your office or business premises, including home offices.

Check it all out HERE