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February 28, 2021
Question

Hello. in the tax summary it's saying that my utility Bill's are not allowable. This throws it out allot. Why is it doing this?

  • February 28, 2021
  • 1 reply
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1 reply

katherinejoyceO
Level 9
February 28, 2021

Hi there, @simonthea2015-gm.

 

I'm here to share some ideas about allowable expenses in QuickBooks Self-Employed UK. 

 

We calculate your self-employment taxes based on your business income, spending, allowable expenses, and the data you've set up in your Tax Profile.

 

Any costs needed to run your business are considered allowable expenses. You can’t claim personal expenses or any items covered by an insurance policy, or any costs related to buying or improving the fixed assets (such as buildings) which last for several years.

 

To learn more, you can also read through this article: Self-employed business expenses: all you need to know.

 

Additionally, the system will calculate it as long as you tag your transactions correctly. 

 

In QBSE, we follow the simplified expenses from HMRC. Here are great resources and guidelines for your reference: 

 

 

Let me know if you have additional questions. I'll be here to help.