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Where Taxpayers and Advisers Meet

Business tax allowances

OL
Posts:1
Joined:Wed Aug 06, 2008 4:08 pm

Postby OL » Tue May 13, 2008 1:31 am

I have just started my own one man consultancy business and am trying to find out the taxman's expectation for routine expenses. For example I understand that to split one's mobile phone 70% business and 30% private is the norm. Are there other norms? Is there a list somewhere of what one can sensibly and honestly claim without getting into line by line arguments?
Thank you

sarahg
Posts:293
Joined:Wed Aug 06, 2008 3:52 pm

Postby sarahg » Tue May 13, 2008 9:52 pm

I think if there was a list online then everyone would do there own tax and accountants would lose a lot of business.

You can claim anything that is wholly and exclusively for the purpose of the business.

Why not go and see an accountant or a Business Link advisor on what you can and can't claim.

taxattack
Posts:309
Joined:Wed Aug 06, 2008 3:44 pm

Postby taxattack » Wed May 14, 2008 1:24 am

OL
Have a look at the HMRC booklet HS222 available here:
http://www.hmrc.gov.uk/selfemployed/fagsa103.shtml
Regards
chris @ taxattack.co.uk


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