The test HMRC applies is whether a cost was incurred wholly and exclusively for the purposes of the trade. If it was, it reduces your taxable profit. If it was not, it does not.
Things that usually count
Software and subscriptions you use for work. Equipment such as laptops and phones. Professional fees — accountants, solicitors. Advertising and marketing. Travel to a temporary workplace. Stock and materials. Business insurance. Bank and payment processing charges.
Things that usually do not
Entertaining clients — a real cost, but never deductible. Ordinary commuting to a permanent workplace. Everyday clothing, even if you only wear it for work. Fines and penalties. Anything personal.
The awkward middle
Costs with both a business and a personal side — a phone bill, working from home — can usually be split, with the business proportion claimed. Keep a note of how you worked the split out.
Keep the receipt
HMRC expects you to be able to evidence what you claimed, and to keep records for six years. Upload receipts to Telore as you go and that takes care of itself.
This is guidance, not advice. Telore is software, not an accountancy practice. Tax figures in Telore are estimates based on what you have recorded, and anything filed goes through the official HMRC and Companies House services, subject to their acceptance. For a decision that turns on your own circumstances, speak to an accountant.
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