Any expense that is wholly and exclusively incurred in your business activities should be considered when filing your Tax Return. If you have already filed yours for this year, you can now sit back and relax. If you are still struggling to get to grips with your expenses for the tax return, our expenses and budget spreadsheet below, can be downloaded to help you keep track.
Claiming expenses as part of your tax return
It is important to keep clear and concise records of all your expenses being considered as part of your self assessment so once this tax return deadline has passed next week, why not go ahead and start keeping your records for 2019 with the spreadsheet below. It will highlight your expenses by type, monthly and annually and in line with your set budget so you can get an overview of where you are up to.
Collate all your expenses in one place to help you save time next January – the spreadsheet is an easy way to keep track of everything, from your mileage, travel costs and business utilities to stationery and consumables. Being able to see your costs and associated budgets in one place will give you the bigger picture on what expenses you have been incurring throughout the year.
If you think you would benefit from any help or advice with your tax matters, get in touch with our tax team today on 01244 400315 or email [email protected].