Expenses – are you claiming enough?
A recent YouGov poll of 5,000 self employed people and freelancers revealed that 3 out of 4 of them don’t claim all their expenses and nearly 20% claim less than half or none at all!
A common reason given for these shocking statistics is that most people thought the amount of most expenses were too small to bother with or took too much administrative time and effort to claim. But this is a big and potentially costly mistake! Did you know that nearly 60% of all expenses are under £20?! The old saying: ‘look after the pennies….’ comes starkly into mind! In fact, If you do it right you can save up to 20p in every £ you earn against your tax bill!!
Well now you have no more excuses not to claim what is rightfully yours!! Farnell Clarke has teamed up with an amazing new FREE expenses app -1Tap Receipts. It’s a super easy way to make expense claims. It also ensures they are all accurate. All you need do is photograph your receipts on your mobile phone and that’s you done! Their people (yes, real people) process it and update the expense part in the Self-Assessment form for you and save the images in the cloud for 6 years to Keep HMRC happy.
And it’s not just receipts you can submit into 1Tap. Train tickets, parking tickets, invoices, you name it. And they don’t have to be looking shiny and bright. Usually these things roll around in jeans pockets, bags and wallets. As long as they’re legible it should be processed just fine. You will soon also be able to email receipts too. This means all your online purchases, job invoices, plane tickets, basically everything that’s emailed to your inbox, you will be able to send directly to 1Tap and they will process them for you!
Download the FREE 1Tap app HERE today and see how much you can save against your tax bill – you’ll be pleasantly surprised!