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Self assessment: Marketing expenses

julesfrench
Posts: 9 Forumite
in Cutting tax
Hi,
Re self assessment - i am in my first year of business. To try and find clients, I have taken people out to lunch and have done networking events.
can i deduct the cost of these as marketing expenses or not?
again, am not too sure whether i can deduct clothing i bought for special events or meetings as part of my expenses.
It's quite hard to understand - according to the guidelines, anything i would not have bought if it wasn't for the business can be deducted, but other friends have told me that usually, clothes can't be deducted?
Any help in this respect would be great.
Thanks
Re self assessment - i am in my first year of business. To try and find clients, I have taken people out to lunch and have done networking events.
can i deduct the cost of these as marketing expenses or not?
again, am not too sure whether i can deduct clothing i bought for special events or meetings as part of my expenses.
It's quite hard to understand - according to the guidelines, anything i would not have bought if it wasn't for the business can be deducted, but other friends have told me that usually, clothes can't be deducted?
Any help in this respect would be great.
Thanks
0
Comments
-
Anything that comes under the heading of entertaining is not tax dedcutible. The basic definition of entertaining is the provision of free or subsidised hospitality or entertainment. This would certainly include lunches. Networking events should be ok, provided they don't fall into the above.
With regards to clothing this would only be tax deductible if it was a uniform or safety clothing. Although you may have only bought the clothing for a business event, the arguement is that you had to wear something. As a consequence it fails the test of being wholly and necessarily for busines purposes.if i had known then what i know now0 -
Gosh, why can't the IR forms be as clear as you are! I wish you were with me when I had to fill in all the forms. Hopefully, I haven't made too many mistakes...0
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