How to reduce Tax by claiming Business Expenses as Sole Trader or Partnership - Self Assessment UK Tax Return 2015

How to reduce Tax by claiming Business Expenses as Sole Trader or Partnership - Self Assessment UK Tax Return 2015

You have probably sorted most of your documents to enable you to complete your Tax Return 2015 before the 31 January 2016 deadline, but you still have questions as to what expenses and costs to claim as Business Expenses.

The common Business Expenses that Sole Traders and Partnerships can claim are as follows:

Computer Equipment
Website Hosting Costs
Internet Costs
Telephone Bills
Mobile Phone Costs

Office Furniture
Printing Costs
Stationery Costs

Office Electricity Bills
Office Heating Bills
Office Water Bills

Office Premises Rental
Insurance for Business

Train Tickets
Business Flights
Hotels Accommodation
Business Meals
Business Mileage
Parking Fees
Toll Charges

Advertising and Marketing Costs
Annual Entertainment for employees

Protective Clothing
Uniform Clothing
Costume Clothing

Training Costs
Professional Subscriptions
Legal and Professional Fees
Accountancy Fees

Bank Interest and Bank Charges
Credit Card Charges

The list is not exhaustive and there are certain rules and regulations applicable to most of these Expenses, so that they can qualify as Business Expenses.

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