The moment you earn a side income in the UK, a load of your everyday spending becomes t...
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The moment you earn a side income in the UK, a load of your everyday spending becomes tax-deductible. Most people never claim a penny of it.
5 things you can legally write off. Save this thread.
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- A slice of your home bills.
Work on your side business from home and you can claim a proportion of your rent or mortgage interest, energy and broadband, based on the space used and the time spent. HMRC even has a simplified flat-rate version if you don't want to do the maths.
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- Mileage and travel.
Driving to a client, a supplier or a job? You can claim 45p a mile for the first 10,000 miles a year. Train fares and parking for business trips count too. Keep a simple log from day one.
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- Equipment and software.
The laptop, the phone, the camera, the subscriptions — Adobe, Canva, hosting, your scheduling tools. If you bought it for the business, it comes off your taxable profit.
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- The cost of what you sell.
Stock, materials, packaging, postage. The cost of the thing you sold is taken off before you're taxed on what's left. You're taxed on profit, not on everything that lands in your account.
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- Pension contributions.
Money you put into a pension from self-employed profit cuts your tax bill now and compounds for later. One of the few moves that does both at once.
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Every legitimate cost you forget to claim is money handed to HMRC for no reason.
Open a separate account for the side income, keep every receipt, and let an accountant sort it once it's earning. The first year of habits saves you thousands later.
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