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  #1  
Old 2008-03-11, 12:35 AM
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Join Date: Mar 2008
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Default self employed: what "costs" can I add on to my business, as business...

...expenses, to reduce my tax bill any ideas?
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  #2  
Old 2008-03-11, 01:05 AM
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Join Date: Jan 2008
Posts: 12
Default

The law states that any expenditure incurred wholly and exclusively for the business can be deducted for tax purposes. Without knowing your business, its hard to be specific, but every business is different. For instance, if we both ran florists shops, I might decide that the window needed to be decorated in gold fabric for Vantines, but you might decide not to decorate your window at all - its down to the individual business toi decide.
If you put all your business income and expenditure through a separate bank account, you wont miss anything.
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