Maximising your tax savings as a personal trainer: allowable expenses explained

As a personal trainer in the UK, your passion is helping others achieve their fitness goals. But while you're busy crafting workout plans and motivating clients, it’s essential to pay attention to your financial health as well. One of the key aspects of managing your finances is understanding what allowable expenses you can claim to reduce your tax bill. This article will guide you through the ins and outs of allowable expenses for personal trainers and how our service can simplify your tax filing process.

8/13/20243 min read

What are allowable expenses for personal trainers?

Allowable expenses are costs that you incur in the course of running your business, which you can deduct from your income when calculating your taxable profit. For personal trainers, these expenses can significantly reduce the amount of tax you owe, making it essential to know what you can and can’t claim.

Key allowable expenses for personal trainers

Here’s a breakdown of some common allowable expenses that you, as a personal trainer, should consider:

Training equipment: Any equipment you purchase to use with your clients, such as weights, resistance bands, mats, or specialised machines, can be claimed as an allowable expense. Keep receipts for all purchases to back up your claims.
Professional memberships and insurance: If you pay for membership in professional organisations like REPs (Register of Exercise Professionals) or for liability insurance, these costs are deductible.
Uniforms and clothing: While everyday gym wear might not be claimable, specialised clothing that you’re required to wear for work, such as branded uniforms or protective gear, can be deducted.
Marketing and advertising: Expenses related to promoting your business, such as website costs, social media advertising, business cards, and flyers, are fully allowable.
Rent and facility hire: If you rent space in a gym or hire a facility to train clients, these costs are deductible. This also applies if you lease equipment from a gym.
Travel expenses: Travel costs to and from client sessions, including mileage if you use your vehicle, can be claimed. Remember to keep a detailed log of your journeys and related expenses.
Home office costs: If you run your business from home, a portion of your household bills, such as electricity, heating, and internet, can be claimed as business expenses. You can use HMRC's simplified expenses method or calculate the actual costs incurred.
Training courses and continued professional development (CPD): Courses that are directly related to maintaining or improving your skills as a personal trainer can be claimed as an allowable expense.

Common mistakes to avoid

While it’s important to maximise your allowable expenses, it’s equally crucial to avoid claiming non-allowable expenses, as this could lead to penalties from HMRC. Here are a few common mistakes to avoid:

Personal expenses: Only claim expenses that are wholly and exclusively for business purposes. Mixing personal and business expenses can lead to complications.
Capital expenditures: Large purchases that are considered investments (e.g., a new computer or a car) may not be immediately deductible but can be claimed under capital allowances.
Incorrect mileage claims: Be precise with your mileage claims, and ensure that you’re only claiming for business-related travel.

How our service makes tax filing simple

Navigating the complexities of tax filing as a personal trainer can be overwhelming, but it doesn’t have to be. Our service is designed to make the process straightforward and stress-free. Here’s how we can help:

User-friendly questionnaire: Fill out our simple, intuitive questionnaire that’s tailored specifically for personal trainers. It helps you gather all the necessary information without the jargon.
Personalised guide: Once you’ve completed the questionnaire, you’ll receive a personalised, step-by-step guide on how to complete your Self Assessment. This guide is tailored to your unique tax situation, ensuring that you don’t miss out on any allowable expenses.
Affordable and effective: For just £9.99, you can access our service, which provides you with everything you need to file your taxes confidently and accurately.

Tips for staying organised throughout the year

To make tax time easier, here are some tips for staying organised:

Keep detailed records: Regularly update your records, including receipts, invoices, and mileage logs, to avoid a last-minute scramble.
Use accounting software: Consider using accounting software to track your income and expenses. This can save you time and reduce errors.
Set aside money for taxes: Regularly set aside a portion of your income to cover your tax bill, so you’re not caught off guard by a large payment.

Simplify your tax filing today

Understanding and claiming allowable expenses is crucial for minimising your tax bill as a personal trainer. By keeping detailed records and using our tax filing service, you can ensure that your Self Assessment is accurate and that you’re not paying more tax than necessary.

Ready to take the stress out of tax season? Start today with our service for just £9.99, and get your personalised guide to filing your Self Assessment. Focus on what you do best—helping your clients reach their fitness goals—while we take care of the rest.