Expenses Guidelines Sole Trader

Any legitimate business expenses can be offset against income

Example of typical expenses

There are two types of expenses that contractors have:

1. Agency or end client chargeable

These are expenses that your agency or end client has agreed to reimburse your business. An example of this would be where you have to attend a meeting on their behalf and you have to pay for travel and hotel costs. The cost will then be reimbursed by either the agency or end client. This type of expense can be added to your business's services invoice or detailed on a separate invoice when submitted providing that this way of reclaiming expenses has been pre-agreed by the agency or end client.

2. Other expenses incurred incurred by a Sole trader that are not chargeable

Any legitimate business expenses can be offset against income.