What expenses can you claim when you’re self-employed?


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October 1st, 2014
Hiscox Experts

Hiscox insures more than 300,000 UK businesses and has been named Best Small Business Insurance Provider by Start Your Business magazine for eight years in a row.

When you’re your own boss, it can be tricky to know what to claim back on your tax. This infographic answers some common tax questions.
Man Checking Tax Receipts at Laptop

When you’re your own boss, it can be tricky to know what to claim back on your tax. While HMRC’s rules state you can claim an expense that’s solely and exclusively for your business, there are still items that can be confusing.

Does that new iPad count as a business expense? How about lunch? Can you incur expenses working from home? And what if you need a new outfit for a business meeting?

Our friends at Easy Accountancy (external link), part of the SJD Group, have put together the following infographic that provides a handy guide to what expenses you typically can and not claim, whether you’re running your own business, a sole trader or a freelancer. 

easy-accountancy-self-employed-infographic

 

For more information visit www.hiscox.co.uk/SJD.