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The Essential Guide To Expenses

January is a time when you need fast help when your self assessment is still on your To Do list.

If it’s summer when you’re reading this (or October or November) and you have time under your belt, rather than overwhelm and panic, soooo much easier.

This is my essential guide to expenses for sole trader freelancers doing their own tax return (for more in-depth information, there’s Tax Return Successone to one coaching and Business Expenses Review.

Don’t forget your reward once you’re done! #soimportant #cake #wine


What’s An Expense?

An expense is a day to day cost in your business.

It’s different to capital items, which are an investment (asset) when you’ll get the value for several years.

For example, stationery is an expense, your laptop is a capital item. I cover this in more detail with more examples in Tax Return Success and in the articles below.



Doing Your Tax Return



It’s easy to get a case of the overwhelms when you have a tax return to do (try my Money Mindset Resources).

I know it’s easy to throw up your hands, declare you don’t want anything to do it or put it off.

Thing is, it’s essential for your business to understand about expenses so you can make better decisions.

Having your tax return, money and expenses firmly in the avoid camp doesn’t help you grow your business so you can make the difference in the world you are craving for.

So let’s sort that out:


Expenses Resources

From free to a no-brainer price, download these resources so you can take action right now.

(And don’t forget your reward #cake #wine)



(capital items aren’t an expense, but I’ll leave it here for you anyway)







Do you understand what you need to do with your expenses? Do you understand what’s tax-deductible?

Share with me on FacebookTwitterInstagram or leave a comment. I’d love to hear from you.

If you need one to one support knowing what to do with your expenses and what’s tax-deductible, learn more about coaching.

If you need an at-your-own-pace tax return course that’s easy to understand, have a look at Tax Return Success.

Try my free resources and download the expenses spreadsheet and tax return checklist.


Start your business, help you do your sole trader tax return, expenses, explaining limited companies.

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To get started,  book a free introductory chat.

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