Keep records of all your business expenses as proof of your costs. GOV.UK provide information on business records if you're self-employed.
Add up all your allowable expenses for the tax year and put the total amount on your Self Assessment tax return. GOV.UK provide further guidance on Self Assessment tax return.
You don’t need to send in proof of expenses when you submit your tax return. But you should keep proof and records so you can show them to HM Revenue and Customs (HMRC) if asked.
You must make sure your records are accurate.
Know your legal responsibilities
- Do you need a licence?
- Get the right business insurance
- Comply with the law when providing goods and services
- Know your customers' rights
- Distance and online selling rules
- Understand pricing legislation
- Buying goods from outside NI
- Selling goods outside NI
- GDPR compliance checklist
- Pay your business rates
- Understand staff contracts and your responsibilities
- Taking on contractors and subcontractors
- Health and safety basics for business
- Know your legal obligations on pensions
Understand tax and VAT
Sell and market your products or services