Can I claim materials I buy for jobs as a sole trader?

Can I claim materials I buy for jobs as a sole trader? Yes. Materials you buy for customer jobs are an allowable cost. Under the cash basis, the standard method since 6 April 2024, you claim them in the tax year you pay for them, even if some are unused. Yes. GOV.UK lists raw materials and goods for resale as allowable costs for the self-employed, and the tax return notes put them in box 17, cost of goods bought for resale or goods used. Under the cash basis, yes. HMRC's manual says cash basis expenses are those paid during the tax year, and the tax return notes say allowable expenses include the amount paid for stock. In our reading, that covers materials not yet used. Under traditional accounting you adjust for opening and closing stock, so unused materials count in the year you use them. Yes. The tax return notes say turnover is the total amount your business receives (cash basis) or earns (traditional accounting) before taking off any expenses. In our reading, the whole invoice counts, materials included, and the materials you bought are claimed as a cost. Read the full answer, with every source, at rightotax.co.uk.