Every year we onboard new clients who have been quietly overpaying tax, not through anything dramatic, but by missing perfectly ordinary expenses they were entitled to claim. Here are six of the most common.
1. Use of home as office
If you work from home, a proportion of your household costs can be claimed. There is a simple flat rate and, often more generously, an actual-cost method.
2. Mileage and travel
Business mileage in your own vehicle is claimable at HMRC's approved rates, as is public transport for genuine business journeys.
3. Professional subscriptions
Membership of an approved professional body relevant to your work is an allowable expense.
4. Training that maintains your skills
Courses that keep your existing professional knowledge current are generally allowable.
5. Phone and broadband
The business proportion of your mobile and home internet can be claimed where there is genuine business use.
6. Bank and finance charges
Interest and charges on business borrowing and business accounts are deductible and frequently overlooked.
None of this is about cutting corners. It is about claiming what the rules allow. If you suspect you have been leaving money on the table, we can review your last returns and put it right.