Can you still claim self employmenet expenses if you are on PAYE also?
Tuesday, December 21st, 2010
I have both a 9-5 job with the government but I have a website where I am making money on the side. What expenses can I claim from this?
Wednesday, February 2nd, 2011
For anyone who is self-employed there are many write offs, reliefs and allowances that it’s possible to get so that you can reduce your tax expenses.
It is possible to subtract much of your company spending to determine your profits – but you can not deduct any type of private expenditure. You can also claim specific reliefs for selected ‘capital expenditure’ – one-off expenses to buy or improve an asset you keep and employ for the business.
It’s possible to usually receive write offs, reliefs and allowances for the current tax year and for the past 4 years – but there are a number that you have got a shorter time limit for making a claim.