Expenses a Self-Employed Plumber Can Claim

Expenses a Self-Employed Plumber Can Claim

If you are a self-employed plumber who completes a tax return declares earnings to HMRC and pays the appropriate tax amount, you could be eligible for a tax refund. The problem self-employed individuals however is fat they are unaware of expenses that they can claim. Don’t make the same mistake.

What you can claim as a plumber

As a self-employed plumber, you can claim tax for materials you buy and use for work, equipment needed for repairs & maintenance, insurance, consumable tools, protective clothing, laundry & cleaning of work clothing, capital allowances on certain assets, and from some of the things you need to run your business.

These include telephone landline and mobile phone for business use, advertising, internet, postage & stationary, accountancy fees, computer consumables, fares and travel expenses, employee wages, and cost of using your home as office or subsistence if you work away from home.

You can also claim on vehicle running costs, such as repairs and maintenance, cleaning, parking and tolls, MOT, road tax and insurance. It is important to note that a full tax claim is only eligible for vehicles used only for business. If the same vehicle
is used for personal reasons, you need to factor in the percentage by which the vehicle is used for business. If you use it for business 20% of the time, for example, you also need to reduce the claimable running expenses by 20%.

Did you know…

An alternative would be to use the Fixed Scale Mileage Rate from HMRC to determine how much you should indicate as your vehicle running cost. Under the Fixed Scale Mileage Rate, each mile for the first 10,000 is currently at 45p. Any miles travelled afterwards are set at 25p.

Think you may be due a tax refund? Apply here to get your tax back.

Image by fran1 from Pixabay

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