Hello,
I am a self employed musician and usually claim all the expenses I possibly can. However, as I will be applying for a mortgage soon, I am keen to ensure my earnings after expenses are still high enough to please the lender.
For tax year 17-18 I made a significant purchase of equipment for around £3,000. Usually I would claim the full amount, however this will bring my earnings down significantly. Therefore is it possible to claim this expense as a capital allowance, and if so can somebody explain the process? I've heard it's a way of claiming the expense over several years. I have other standard expenses (such as fuel costs), can I still claim those in the normal way too?
Many thanks for your help,
Martin
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