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Hi, I would like to add my lunch to my expenses, but there is no cost category for this. Should I create one under general expenses or perhaps other? Is 69% of this also business-related, or is it less/more?
Hi, I would like to add my lunch to my expenses, but there is no cost category for this. Should I create one under general expenses or perhaps other? Is 69% of this also business-related, or is it less/more?
Restaurant costs are only deductible if you eat the meal on the premises. And provided it is business-related, of course. (It is difficult to justify a meal for one person as business-related.) So if you have a sandwich at a lunch bar with a (potential) customer, business relation, etc., you can enter this as it is. You cannot enter a takeaway sandwich as restaurant costs. You could possibly enter this as reception costs. This is when you provide food or drink for (potential) customers, business relations, etc. at a location other than the restaurant. However, this can only be entered as a business expense for a maximum of 50%.
You really should try it out for yourself. Even if you don’t have a company number yet, you can already go ahead.