Simplified expenses checker updated
Released 7 January 2019
HMRC have updated their online expense checking tool, which aims to help sole traders and partnerships work out whether using the simplified expenses regime for income tax would be beneficial.
For most sole traders and partnerships there are two permissible ways to calculate business expenses for vehicles, working from home, and living on business premises. They can use HMRC’s simplified expenses regime, broadly, using pre-set flat rates, or calculate expenses by working out the actual costs.
View the checking tool.