If you're self-employed in Ireland, every allowable expense you record reduces the profit you pay tax on. Yet many sole traders leave money on the table simply because they're not sure what counts. Here's a plain-English guide to the most common expenses you can claim.
This article is general guidance, not personalised advice. For your specific situation, book a free consultation.
The basic rule
Revenue allows expenses that are incurred "wholly and exclusively" for your business. If a cost is purely for the business, it's usually allowable. If it's part personal and part business, you claim only the business portion.
Good records mean you claim everything you're entitled to — and can back it up if Revenue ever asks.
Common allowable expenses
- Materials, stock and supplies used in your work
- Business travel and motor costs for the business portion of use
- Accountancy and professional fees
- Phone and broadband for the business share
- Software, subscriptions and tools you use for work
- Advertising, website and marketing costs
Working from home
If you run your business from home, you can claim a reasonable proportion of light, heat and broadband based on business use. Keep it sensible and consistent, and hold on to the bills.
What you cannot claim
Personal expenses, everyday clothing, and most entertainment aren't allowable. Fines and penalties are never deductible. When something is genuinely mixed use, claim only the business share and keep a note of how you worked it out.
Keep records that stand up
Save receipts and invoices, and record expenses as you go rather than at year end. Not sure whether something qualifies? That's exactly what we're here for. Get in touch and we'll make sure you claim every allowable expense.
