Whether you’re just starting out in business or are used to filing your tax return every year, our tax experts from FSB Tax Investigation Protection explain what business expenses you can claim as a sole trader or limited company.
What is a business expense?
From stock and staffing costs to travel and training courses, there are lots of everyday outgoings when you’re running your own business. Understanding the allowable expenses you can claim can help to reduce your tax bill when you file your taxes. Once these expenses have been deducted from your turnover, you’ll pay tax on the remaining amount, which is your taxable profit.
