If you work in the food and events industry, you already know the importance of good organisation and high standards. Whether you’re an artisan food producer or a craft brewery, it’s vital that you keep on top of your paperwork to avoid headache (and not alcohol induced) further on down the line.
Why Use Dead Simple Accounting?
Trust us when we say we appreciate fine food and a good beer, and that’s why we’re so keen to help businesses thrive in what can be a competitive and ruthless industry. Whether you’re just starting out or have been in the business for years, we can help you ensure you’re business is running as smoothly as it can, maximising profits and reducing the tax you have to pay each year.
But don’t just take our word for it, there’s a reason why we’re rated 5 stars across Google and Facebook.
At Dead Simple Accounting we charge just £275 including VAT for self-assessment tax returns, and can take you through the entire process.
If you’re interested in other services, such as setting up a company or payroll, head over to our quote page for a free and instant estimate.
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What Expenses Can the Food & Events Industry Claim?
Claiming expenses can help you recoup the costs you’ve spent on keeping your business performing at it’s best. While you can’t claim expenses for everything, if you keep a detailed record of your spending and file the relevant paperwork, we can help identify which costs can be claimed back and reinvested back into your business.
To give you can example, the below are all expenses that a self-employed cake baker may be able to claim back:
- Any baking equipment, such as decorating tables, trays, stand mixers and even the oven could be claimed as an expense.
- The costs of ingredients can understandably add up over time. Ingredients would be considered as a direct expense accrued solely for your specific business.
- If you’ve invested in a web presence, any costs associated with a website can also be claimed as an expense, such as hosting or domain name registration.
- Household Expenses
- If you work from home there are several expenses you can claim back on, such as energy, council tax, internet, heating and more. However, you can’t deduct all of these for your business, just a proportionate depending on business use.
- If you deliver goods to your clients or make trips to buy ingredients and supplies, you can claim back up to 45p per mile.
- The cost of memberships to trade bodies and even magazine subscriptions can be classed as a business expense.
In order to claim for these, it’s vital that you keep on top of your paperwork, keeping hold of receipts, contracts and invoices. We appreciate it may be tricky to keep hold of receipts, especially with flour covered hands, so consider making digital copies with your phone to help keep everything in order.
Need Some Further Help?
If you have any further questions or would us to help with your tax needs, get in touch with us today.
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