3 Business Expenses You Didn’t Know You Could Claim to Reduce Your Tax Bill in 2024!💸| Accountants In Essex

In 2024, you need to be doing everything possible to save tax and keep more of your hard-earned profits! 😏 As a UK business owner, claiming allowable business expenses is key to reducing your tax bill and maximising your take-home income.

Here are 3 business expenses you might not have realised you can claim on your tax return…

1. Use of Home as an Office 🏠

Whether you’re a virtual assistant (VA), freelancer, coach, or small business owner, working from home is a claimable business expense! Since your home is acting as your office space, you can claim a portion of household bills like electricity, heating, and broadband as a business expense.

2. Phone Contract 📲

If you’re using your mobile phone for business calls, emails, client communication, or marketing, you can claim a percentage of your phone bill as a tax-deductible expense. Many business owners forget this, but it’s a great way to reduce your taxable income and lower your self-assessment tax bill.

3. Business Courses & Coaching 📚

Investing in your knowledge and skills is 100% a tax-deductible business expense. Whether you’re paying for masterclasses, coaching, online courses, business training, or mentorship programs, these are all legitimate expenses that contribute to your business growth—so make sure to claim them!

Save More Tax by Claiming These Expenses! | Accountants In Essex

Start tracking and claiming these expenses when doing your monthly bookkeeping, and you’ll see your tax bill decrease—leaving you with more money in your pocket each month! 💸

Need help with business tax, bookkeeping, or self-assessment in the UK? As an Essex-based accountant, I help business owners across the UK save tax and keep more of their profits. Get in touch today!

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