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Emma Powles
Level 1

How do i record my fuel expenses for Self Employed?

I am using the Self Employed version of QuickBooks and I have been recording my mileage using the App, however how do I enter my fuel receipts? Do I simply split the receipt between business and personal? Also what do I need to do with the 'total deductions' available from tracking my mileage?

Solved
Best answer May 07, 2019

Accepted Solutions
EmmaM
QuickBooks Team

How do i record my fuel expenses for Self Employed?

Hello Emma

 

Using the simplified method, you can't claim vehicle insurance, repairs and servicing, or fuel costs, but you can claim all other travel expenses in addition to your simplified expense amount.

 

 

You can enter a manual transaction such as a split transaction as an expense however,if you need this to be allowable you would need to select the travel category(on the business side of the transaction) as the car vehicle category on a manual entry will push this into the disallowable section

 

 

More information can be found here

 

Any questions let u s know

 

Emma

 

 

View solution in original post

3 REPLIES 3
EmmaM
QuickBooks Team

How do i record my fuel expenses for Self Employed?

Hello Emma

 

Using the simplified method, you can't claim vehicle insurance, repairs and servicing, or fuel costs, but you can claim all other travel expenses in addition to your simplified expense amount.

 

 

You can enter a manual transaction such as a split transaction as an expense however,if you need this to be allowable you would need to select the travel category(on the business side of the transaction) as the car vehicle category on a manual entry will push this into the disallowable section

 

 

More information can be found here

 

Any questions let u s know

 

Emma

 

 

Emma Powles
Level 1

How do i record my fuel expenses for Self Employed?

Hi Emma,

 

thanks! How should I work what percentage I should split each receipt by? 

EmmaM
QuickBooks Team

How do i record my fuel expenses for Self Employed?

Hello Emma

 

It is a case of doing the manual calculation based on how many miles are  allowable and how many were personal,working out the percentage from that. IIf you need guidance further it is worth reaching out to HMRC,there is also a link for their website on the bottom of the Community page which was in the last post to you

 

Emma

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