Uk sole trader allowable business expenses?
I bought a mobile phone. i reckon its about fifty fifty business and personal use. can i claim some of the cost of the original purchase, and fifty percent of all credit top ups against my tax?
Answer
If the cost of the phone was under £100, then you are ok to treat it as a revenue expense. if it was more than £100, then it should be treated as capital and you would claim capital alloawances at 25%.
you need to put all calls through as revenue and then add back a private proportion in your tax return.
