Earnr AI, your new tax assistant, is here. Check it out now!
Stressed by tax?
Get Earnr Pro





Expenses can potentially be deducted from earnings in order to pay less tax. They are especially important for the self-employed and rental income individuals.

More detail:

Expenses are the costs incurred by an individual or organisation in the course of running their operation. It is essential to monitor and record expenses as they are key to profitability, and it may be possible to claim them against earnings in order to pay less tax.

Self-employment and rental income are the two most common forms on income that involve claiming expenses, but it may be possible for other forms of income too.

In some cases, flat or fixed allowances may result in paying less tax rather than claiming expenses. It also simplifies the process as you don't have to manage and keep expense receipts.

Back to Taxionary

You might also like...

decorative image for a blog

Submit your 22/23 Tax Return Before January 31st

January 31st is the deadline for submitting 2022/23 tax returns. It's a good idea to complete your tax return ahead of this deadline to avoid mistakes and potential penalties. This article shows why its a good idea to submit your tax return early and how Earnr can help you if you are stuck.

Read more
decorative image for a blog

We asked Earnr AI why you should use Earnr…. here’s what it said…

We recently introduced our newest addition to the Earnr team; our AI chat bot, Earnr AI. In this article we put Earnr AI to the test and asked it why you should use Earnr as your tax companion, bookkeeping tool and tax return assistant. Read it's excellent response!

Read more
decorative image for a blog
December 20, 2023
Tax essentials

Why should you submit your tax return over the Christmas period?

The festive period is often thought of as the busiest time of the year with the run up to Christmas and New Year. Whilst this period can feel hectic at times, it can also be seen as the perfect time to complete your tax return. In this article we explain why this Christmas time is the best time to submit your 22/23 tax return.

Read more
Earnr logoDownload earnr