Allowable business expenses

You can include many expenses in your tax return - alongside your business income - to reduce the amount of profit you pay tax on.

The expenses must be wholly and exclusively for this business.

We have included a checklist of expenses below and further details are available from HMRC on this page):

  • office costs, for example, stationery or phone bills
  • travel costs, for example, fuel, parking, train or bus fares
  • clothing expenses, for example, uniforms
  • staff costs, for example, salaries or subcontractor costs
  • things you buy to sell on, for example, stock or raw materials
  • financial costs, for example, insurance or bank charges
  • costs of your business premises, for example, heating, lighting, business rates
  • advertising or marketing, for example, website costs
  • training courses related to your business, for example, refresher courses