As long as an expense is 100% for business purposes with no personal use (or potential personal use) then it can generally be included as a business expense. Typical examples are included below:
- Materials / goods (used to make your product)
- Commissions paid
- Subcontractor or Salary costs
- Computer equipment and software
- Office equipment
- Accounting fees
- Advertising & Marketing
- Bank charges & Interest
- Books, publications and subscriptions
- Legal and Professional fees
- Postage, Packaging & Courier costs
- Stationery & Printing
It might be useful to have a read of the typical structure of income and costs for sole traders on the below file which is extracted from an accounting system.
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