Wired for Your Success Expert Contractor Accounting

You can claim purchase/lease costs, insurance, repairs, fuel, and mileage between jobs, but not standard commuting to a regular workplace.

Materials are typically standard-rated at 20% VAT, while labour can sometimes qualify for reduced 5% rates in residential settings – we manage this split correctly.

Yes, electrical installation work falls under CIS regulations, requiring 20% deductions for subcontractors unless they have a gross payment status.

Tools under £1,000 can usually be fully expensed immediately, while more expensive equipment might need capital allowance treatment – we'll optimise this.

We'll implement a simple logbook system to track business mileage and calculate the correct proportion of vehicle expenses you can legitimately claim.