4 Expenses Most People Fail to Claim

05May

4 Expenses Most People Fail to Claim

In a small business, you really need to hold on to every penny. Your average small business can go belly-up in a couple of months due to bad business, having an unequal income versus cost (you’re spending more than you’re earning) or racking up the bills on expenses. But did you know that these expenses can actually be claimed back?

1     Postage
Postage costs can be reclaimed, alongside other office stationary such as printing, some bills (i.e. internet & phone bills) and computer software that your company hasn’t used for more than 2 years.

2     Pension Contributions
Pension contributions can be claimed under allowable business expenses, alongside salaries, National Insurance contributions, subcontractor fees, company benefits and other staff expenses.

3.     Subscriptions for Professional Membership
You can claim expenses for subscriptions to trade and professional journals as well as trade bodies and professional organisations that work in your field.

4.     Sundries (Tea, Coffee, Sugar, Milk etc.)
Basic items that every office needs, such as toilet roll, coffee and tea, milk and sugar are covered under Sundries, alongside other stationaries.

A lot of these are probably costing you a lot of money, but they’re all expenses waiting to be claimed by a savvy business.

Posted by Michael Thompson  Posted on 05 May 
  • Expenses