Allowable business expenses | Swift Accountancy London

What is an allowable expense?

An allowable expense is a cost that can be deducted when calculating taxable profit under the rules for the business. Personal costs and capital expenditure are treated differently.

Keep expense records

Keep receipts, invoices, mileage details, business purpose and the people involved. Record the date, amount and payment method.

Review common areas

Travel and mileage.
Professional fees and software.
Business insurance and premises.
Equipment and capital expenditure.
Mixed business and private costs.

Official sources.

Check the current guidance before you rely on a rate, threshold, deadline or relief.

Expenses and benefits from A to Z
Simplified expenses

Need help reviewing expenses?

Swift Accountancy can help organise expense records and distinguish recurring costs from capital expenditure.

Discuss business expenses