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That's actually not the case - expenses related to earning your income are usually (with a few notable exceptions) deductible. Also, capital gains are a real t
by djrogers 8y ago
That's actually not the case - expenses related to earning your income are usually (with a few notable exceptions) deductible. Also, capital gains are a real thing, and you are taxed on realized gains - not the full amount you sold for.
- philjohn 8y agoIf you're employed in the UK there's very little you can deduct - mostly it's salary sacrifice arrangements like pension, childcare vouchers etc. The only real deductible I can think of at the moment is mileage allowance, and since very few people do anything but commute to and from their place of work, they can't claim that. It's only if you're a salesperson or area manager driving your own car. If you're self employed however the picture is a little different.