Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Hi all! We have been experiencing an issue on site where threads have been missing the latest postings. The platform host Vanilla are working on this issue. A workaround that has been used by some is to navigate back from 1 to 10+ pages to re-sync the thread and this will then show the latest posts. Thanks, Mike.
Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

Business expenses?

  • 02-02-2023 9:34am
    #1
    Registered Users Posts: 188 ✭✭


    Which expenses can I pay out of my business account? I work from home.

    I'm a self-employed sole-trader.

    Home insurance?

    Gym membership?

    Digiweb Internet?

    Mobile phone?

    Utilities?

    Can I put a masters program tuition fee on my business account?



Comments

  • Registered Users, Registered Users 2 Posts: 3,670 ✭✭✭StevenToast


    Talk to a professional accountant.

    "Don't piss down my back and tell me it's raining." - Fletcher



  • Registered Users, Registered Users 2 Posts: 253 ✭✭mct1


    From my own past experience as sole trader (but don't take this as gospel - check with your accountant)

    Home insurance? - I claimed only the additional public liability element.

    Gym membership? - no

    Digiweb Internet? - can claim reasonable proportion used for business

    Mobile phone? - if just for business claim entire amount, otherwise a proportion

    Utilities? - claim reasonable proportion eg 1/6 if one room used for business and six rooms in home

    Can I put a masters program tuition fee on my business account? - I'd say only if it is essential professional development.

    This may help https://www.maneelymccann.ie/factsheets/corporate-and-business-tax/homeworking-costs-for-the-self-employed. NB where they mention possible CGT liability if you sell your home at a profit. Once again, ask your accountant!



  • Registered Users, Registered Users 2 Posts: 8,617 ✭✭✭Gloomtastic!


    Expenses I claim for:

    Motor expenses - bundle all your car costs together then deduct personal usage percentage.

    Mobile costs - 100%

    Broadband - 100%

    Public Liability Ins - 100%

    I would claim tuition fees if it was related to my business - now or in the near future.



  • Registered Users, Registered Users 2 Posts: 7,740 ✭✭✭mneylon


    You really need to talk to an accountant.

    Some expenses will be 100% allowable, but others will not. Others you'll be able to claim a percentage.



Advertisement