Foreign Tax Credit Relief

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Flat rates enabling you to reduce self-employment taxes, they can be used instead of working out individual costs. Can only be used if:

• You’re self employed or are a sole trader
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• You’re a business partnership that doesn’t have a company as a partner
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Can’t be used by limited companies/business partnerships in a limited company.
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Flat rate expenses can be claimed for:

• Work from home: Depending on how much time you spend at home £10-26 per month could be claimed
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• Driving to work: depending on the miles and vehicle you drive, 25-45p per mile could be claimed
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• Living at work: Depending on how many people live there, £350-650 per month could be claimed
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Flat rate expenses can be claimed through Self-Assessment. Records of miles, hours and number of people need to be kept so flat rate expenses can be calculated.

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