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HMRC Tax and Business Expenses Guidance

The HMRC has produced two free online guides for the self-employed. The first is a tax guide that takes you through the necessary facts when choosing a structure for your business, before giving a comprehensive overview of the steps that you need to take to record your tax return correctly for the first time and in the future. The main points in the guide outline:
• Choosing a structure for your business
• Registering your business for tax
• Keeping your business records and claiming expenses
• Sending HMRC your tax returns and repayments

Similarly, the second guide gives an overview on claiming business and private expenses. The guide establishes expenses that are allowable for business use and continues by taking the reader through claiming the different types of expenses that are available. The main points covered in the guide are:
• What are allowable business expenses?
• Revenue ‘day-to-day’ expenses
• Capital Allowances
• Simplified expenses

The guides are interactive and the user is able to read through each section separately, picking out the parts that are relevant to them. The guides will help anyone who is looking to set up a business and wants to get their tax and business expenses right from the outset, or alternatively to refresh the memory of anyone who is currently running a business and would like a detailed explanation of a particular piece of guidance.

The two guides can be found below.


» Tax Guide
» Business Expenses Guide