What Expenses Can Contractors Claim? | Allowable Business Costs Explained

Do you claim all the expenses that you’re entitled to as a contractor? 🤔 In this video, we cover the main *allowable expenses* you can claim through your limited company – and how they can help you be more tax efficient. We cover: 📜 The golden rule – expenses must be “wholly and exclusively” for business 💼 Common claims examples – subscriptions, accountancy fees, office equipment, pension contributions and training 📱 Mobile phone and training costs – when you can claim them 🏡 Use of home allowance and trivial benefits (gifts under £50, for example) 🎉 Staff entertainment – how the £150 per head limit on parties and events works 🚗 Mileage and travel costs – 45p per mile up to 10,000 miles, plus other travel expenses you can claim 🍽️ Deducting meals at temporary work locations Claiming your allowable expenses reduces your tax bill, but making sure you’re doing it right keeps you on the right side of HMRC. Need help making sure you’re claiming everything that’s available to you? Drop us a line and we can give you some free contractor-specific advice: [www.biaccountancy.com] Hit subscribe for more contractor and freelancer tax tips – clear, jargon free and full of bright ideas! #Contractors #AllowableExpenses #LtdCompany #TaxTips #Freelancers #BusinessCosts #BrightIdeasAccountancy