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UK sole trader allowable expenses

VicPicMarkVicPicMark Member Posts: 3

Hi all. New to Wave. My fiscal year is the same as the UK tax year, so started adding my accounts for this year to WAVE and using it for invoicing. How do I add the allowable expenses for a UK sole trader so they do not count towards my taxable income at year end? I am not VAT registered as my turnover doesn't make this necessary. Sorry if this is simple but just want to get it straight. Thanks, Vic

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in Accounting Technical Support

Comments

  • AlexLAlexL Member Posts: 2,869 ✭✭✭

    Hey @VicPicMark , welcome to both Wave and the Community! Super glad to have you with us :) .

    I'll be honest with you, because we provide accounting service to countries around the world, it's difficult to give advice on questions that need info based on location. Additionally, as support agents, we're not accountants and I do want you to receive the correct information on this one.

    Can anyone else in the community help him out? @MerlinAccounts_UK ?

  • VicPicMarkVicPicMark Member Posts: 3

    Thanks, Alex.

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