PIEs – An abbreviation for personal incidental expenses, any incidental overnight expense such as telephone calls made to your home or the cost of the morning newspaper, can be claimed up to £5 a night.
Professional subscriptions – Any subscriptions you have to professional and trade associations means you can claim expenses, but only if the said membership is relevant within the scope of your employment. Not only that, but the HMRC must recognise these subscriptions as being eligible for income tax deduction.
Subsistence expenses – These are expenses which arise throughout the course of the business trip as a result of the contract work you are carrying out and namely include food, drink and accommodation.
Fax, stationery and postage – It is also possible to claim deductible expenses on income tax for any costs incurred in terms of sending or receiving fax, photocopying, printing, postage, stationery, etc. The cost can be claimed through a self-assessment tax return but must be clearly shown that they were incurred only as a result of your day-to-day duties.
For more information on what expenses you can claim and how to make those claims, please get in touch with our tax consultants now.
Other Employees
As an employee of any company, you may be wondering whether there are deductible expenses for taxi drivers in Uber or, say, tax deductible expense for doctors or if claiming expenses for lunch is even possible.
When it comes to claiming tax deductible expenses in the UK as an employee, you can only claim tax relief if:
- You are using your own money to buy things which you must use on the job
- You are only using those things for the sake of your job and not anything else
However, you can’t claim tax relief if the company gives all your money back through reimbursements or provides an alternative such as a different laptop model to compensate, as opposed to the very same one you bought with your own money.
If you are a PAYE-paying employee, here are some of the expenses you can claim via a self-assessment form:
Special clothing and tools – Working conditions in certain industries require protective clothing or specially outfitted protective gear along with specialised tools. These include building and metal working industries where you are required to wear special uniforms and protective gear on a daily basis.
You can claim expenses on the cleaning, maintenance or replacement of all such items, but not on the initial cost of acquiring them. But this only holds true if your employer hasn’t already compensated you for these costs.
Professional fees and subscriptions – Tax relief can be claimed on membership fees, professional fees, subscriptions, etc. only if they are necessary or perhaps beneficial to your work in some shape or form. In order to be entitled to any tax relief in this regard, your organisation must be on this HMRC approved list.
Landlords
As a landlord, you can cut down your tax bill by claiming deductible expenses for rental property in the UK – expenses which you typically incur while letting out your property.
This may range from furnishings, legal and professional fees to office costs, travel and subsistence, and motor expenses.
While we can’t discuss all of them at length owing to the limited page real estate we have, we can definitely share an example or two with you:
Travel and subsistence expenses – When it comes to deductible expenses on buy to let property, any travelling done via bus, taxi or train to go see your property, as well as hotel stays and meals in restaurants become automatically eligible for tax relief.
Office expenses – If you are a landlord who does his/her admin from home, as many do, you can claim deductible expenses against a flat HMRC-approved rate of £4 per week.
The different kinds of tax deductible expenses in the UK that you can claim within a specific occupation is a very broad subject in itself and the list we’ve discussed in this article is by no means comprehensive.
There are many occupations which are eligible for tax relief via deductible expenses UK and within each occupation, there are multiple expenses which can be claimed.
In order to help you navigate effortlessly through this maze of tax deductible expenses and determine exactly how much tax relief you are entitled to according to the nature of your work or occupancy, our friendly and responsive tax accountants are only a phone call away.
Get in touch with us today and get all your tax related matters in order!
Rjohnson.ltd online accountant services are provided to small businesses operating anywhere within the UK.
For more details about online accountant services, visit the website https://rjohnson.ltd
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