One of the big advantages of being a contractor is being able to claim allowable expenses, reducing the amount of tax you pay and putting more money in your pocket.
As a genuine contractor you will incur expenses as you go about your business. BBuffalo enables you to claim tax relief for these expenses. Make the most out of contracting by claiming legitimate expenses. It can make a real difference to the amount that gets paid into your account each week, and you're throwing money away if you don't claim what's rightfully yours.
There's no limit as long as the expenses are incurred for the sole purpose of your job and your taxable pay does not go below the national minimum wage. Click here to see what you can claim for. Expenses are not repaid as extra money on top of the amount received from your agency. Instead we offset them against your gross earnings to reduce the amount of tax you pay, and you see the result as more money in your bank account.
At BBuffalo submitting your expense claim couldn't be easier. You simply log on to your BBuffalo account via the website and submit your expense details online. The expenses will then be processed against your next payroll. In some cases HMRC requires a receipt to substantiate a particular expense. In this instance, it is your responsibility to keep hold of any receipts and be able to produce them should HMRC wish to see them.
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