Self-Employed Tax Returns

Self-Employed Tax Returns

Self-EmployedIf you are a sole trader or a freelancer by profession, then it is very important to notify HMRC about the money you’ve earned and how much you spent to earn that money.

To do this, you must complete and submit a self-assessment tax return each year. On your self-employed tax return you can claim for expenses items such as travel costs, mobile phone calls and for using your home as an office.

Freelancer and Sole Trader Tax Experts

We only work with individuals like the self-employed, possessing comprehensive freelancer and sole trader tax expertise. We’ll discuss your situation with you in detail helping us to identify all of the expenses that you should be claiming for.

Qualified Accountants for the Self Employed

One of our qualified accountants in self-employed tax law will talk you through all of the finer points to ensure that you are not missing any ways to minimise your tax liability. Then, once we have the information from you, we’ll complete the tax return for you and submit it online to HMRC.

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What expenses can I claim as a Sole Trader?

Our Tax Experts will guide you through the different expenses that can be include when preparing your annual self assessment tax return.  These expenses help to reduce any profit you’ve made.  The specific list of expenses you’ll be able to include will depend on the nature of your business.  We’ve listed below some of the most common expenses that we include:

  • Cost of sales
  • Interest and finance charges
  • Accountancy fees
  • Legal fees
  • Recruitment fees
  • Use of home as office
  • Rent
  • Advertising
  • Business travel on public transport
  • Business travel in own vehicle
  • Equipment
  • Small tools
  • Repairs and renewals of property and equipment
  • Business insurance
  • Training and courses
  • Protective clothing
  • Subscriptions to professional bodies
  • Wages and staff costs

Speak to a tax expert

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