Equal Figures Bookkeeping

Business & Accounting Spreadsheets

Allowable Expenses

Expenses are the running costs of your business. Allowable expenses can be deducted from your income to enable you to work out your profit.

The correct proportion of business use should be applied and the personal use proportion in not an allowable expense

Cost of goods bought for re-sale or goods used
  • goods for resale
  • materials
  • direct costs from producing goods
  • Car, van and other travel expenses (after private use portion)
  • fuel, oil
  • MOT, service, repair
  • cleaning
  • Rent, rates, power and insurance costs
  • use of home for business
  • liability insurance
  • Repairs and renewals of property and equipment
  • repairs and maintenance of business premises and equipment
  • renewals of small tools and items of equipment
  • Accountancy, legal and other professional fees
  • accountants and solicitors costs
  • professional indemnity insurance premiums
  • Interest and bank and credit card etc. Financial charges
  • bank/credit card charges
  • hire purchase interest and leasing payments
  • Telephone, fax, stationery and other office costs
  • advertising costs
  • website costs (domain, web design)
  • stationery
  • phone and internet
  • software
  • Other allowable business expenses
  • journals
  • subscriptions
  • uniform
  • Non-Allowable Expenses

    These will include wages, National Insurance contributions, entertainment, personal usage of above categories