Sarah Bradford explains the benefits for the self-employed of using simplified expenses.
Expenses incurred wholly and exclusively for the purposes of a trade can be deducted in computing trading profits, as can deductible travel expenses. In many cases, it is straightforward to arrive at the deductible amount. However, this is not always the case, and this is where simplified expenses come in. This is a way of calculating business expenses using flat rates rather than the actual costs.
Who and what?
Simplified
