If certain books and publications are required for your business (for example trade publications or reference material) you can claim the cost as an expense. HMRC bases its guidance on books and publications expenses on the principle of whether the expense is “reasonably incurred”.
When considering books and publications each expenses item should be considered individually. Before you claim expenses for books and publications make sure that:
- No-one personally benefits from the item
- That the publication is a necessity for the business and not for self-interest
HMRC often disallows ‘books and journals’ expenses. If you buy a work-related book just to broaden your background knowledge, you’re unlikely to be allowed to claim tax relief on the expense.
Generally, books, newspapers and magazines are zero rated for VAT purposes.
Record in Crunch as General Administrative Expenses > Professional Subscriptions
General Administrative Expenses > Printing, Postage and Stationery