Business expenses can be claimed whether you’re a contractor, freelancer or small business. One of the many benefits of claiming business expenses is that they’re generally tax deductible against your profits. Effectively, this means that for every pound you spend on expenses, 19p will be deducted from your Corporation Tax liability.
The rules on what you can and cannot claim as business expenses are complicated and vary depending on a number of factors. Perhaps you want to know if you can claim back on energy bills when using your home as an office, or how much you can claim back in expenses from throwing a Christmas party? Find all the answers by booking a free no obligation consultation with our qualified accountants.