how to change disallowable expenses?

You need to correctly categorize your expenses, Robbins. Here’s a step-by-step guide to help you through the process.

First, let’s clarify the difference between allowable and disallowable expenses.

Allowable expenses are costs that are essential and directly related to running your business. On other hand, disallowable expenses are costs that are not considered necessary or solely for business purposes.

To change a disallowed expense, follow these steps:

1. Navigate to Transactions.
2. Use the search bar or filter options to locate the specific motor expenses that have been marked as disallowable.
3. Change the category in the category column.
4. Click on Other Vehicle Expenses.
5. Select the Business option if the expense was incurred for business purposes. If it was for both business and personal use, choose Split. If the expense is not directly related to the business, select the Personal option.
6. Click the Save button to apply your changes.

For further guidance or to address specific concerns, consider reaching out to a tax professional or contacting QuickBooks Self-Employed support for assistance. This can help ensure that your financial records align with both legal requirements and your business needs.

Additionally, to assist you with self-assessment taxes in the future, I’ve added a useful guide for you: Self Assessment for Income Tax checklist for QuickBooks Self-Employed.

You can always visit us here if you have other questions.