I use Amazon Prime for ordering stationary, camera equipment, etc. Can I put this down as an expense and, if so, what category would it go under? Many thanks.
Sole Trader.
Hi Jeremy,
On the basis that the cost is not wholly and exclusively for business purposes, you are not able to claim it as an expense.
Kind regards,
Chris
Hi, as long as it is wholly a business expense then yes you can claim it. The expense code/category would depend on what you were buying ie stationery or office equipment etc.
@SQKaccountancy I see what you mean, but is that any different to my broadband? It’s 95% business but may use 5% for personal (just an example), so on that basis I’d not be able to claim for broadband as an expense. I work from home so not in a dedicated office anymore, so the whole of my expenses are a bit skewed now. Surely, I could take a percentage, eg. 95% of the cost as business expense??? I thought was how it works.
Hi Jeremy,
This is a difficult one to give an opinion to be honest with you. Looking at it from a tax point of view, I agree that the best way forward is put a percentage through. This would make is very unlikely that a tax inspector would argue about the treatment for it, due to the small amount and the fact you have already restricted it.
I would put it down as a subscription.
Kind regards,
Chris
@SQKaccountancy Thank you for your reply. As a sole trader working from home I think that I will have to be putting most of my expenses through as a percentage this year (last year I was in a dedicated office).