Tax spreadsheet and allowable expenses for Carpenters (UK sole traders)

These are common examples. A cost is allowable only if it is wholly and exclusively for your business, so check GOV.UK guidance on expenses if you are self-employed, or ask an accountant.

• Tools may be allowable
• Workshop rent may be allowable
• Materials bought for jobs may be allowable
• Van or mileage may be allowable
• Insurance may be allowable
• Protective wear may be allowable

• Not keeping workshop rent agreements and payment records together.
• Mixing job material receipts with personal purchases.
• Recording business and personal van use together.
• Using both mileage and actual vehicle costs for the same vehicle.

• Workshop rent agreements, invoices and payment records.
• Invoices and receipts for materials linked to each job.
• Receipts for tools and records of business and personal van use.
• Mileage log with date, destination, purpose and distance.

Keep receipts, invoices and mileage details as you work, and record business and personal use separately where needed. Organised records make it easier to prepare your Self Assessment return.