Inspired off of the Jean Royère’s furniture designs we went to see yesterday (pictured above) in the spirit of London Design Week, we have put together a brief guide for our clients on some of the expenses you can claim as a furniture designer.
There are generally much expenses incurred while working as a furniture designer than other freelance professionals. For instance, the cost of raw materials and machinery. Raw materials and any equipment required to assemble the furniture are all claimable against tax, assuming that you are buying both.
However, expensive machinery will often be regarded by the tax body as a capital expense due to its prolonged use. Capital expenses are not claimed in the same sense as general expenses on your tax return. Capital expenses will be claimed spread across a number of tax returns, where as a general expense will be claimed all in one go on the year of purchase’s tax return.
There are much more expenses you can claim against tax as a furniture designer. For instance, the costs of getting your furniture photographer i.e. photographer costs and venue costs.
As a furniture designer, if you use your home as an office to design or make your furniture, you can claim a portion of your rent or mortgage against tax.