What Are Simplified Expenses
Recently we published a post on allowable self-employed business expenses, an article that’s of particular use if you’re recently self-employed, as understanding the differences between allowable and non-allowable self-employed expenses can cause some frustration.
This week we’re looking at simplified expenses; a way of calculating certain business expenses using flat rates. You can apply simplified expenses if you’re a sole trader or you’re in a business partnership without any companies as partners.
Flat rates can be used for calculating three areas of your business expenses: vehicle costs, the cost of working from home, and the cost of living in your business premises.
Read more