Maximising your business deductions can make a real difference to your bottom line — yet many Irish SMEs miss out on legitimate expenses they’re fully entitled to claim.

At Gallagher Keane Accountants, we regularly see clients surprised by what qualifies once we dig into the details. Here are five commonly overlooked deductions worth reviewing:

1. Home Office Costs

If you run your business from home, you may be entitled to claim a portion of household expenses like electricity, heating, broadband, and even rent or mortgage interest. Just make sure you’re only claiming the business-use element — and keep a clear record of how it’s calculated.

2. Professional Subscriptions

Annual membership fees paid to recognised professional bodies or trade associations are often tax-deductible — provided they relate directly to your business.

3. Mobile & Broadband

If you use your personal mobile phone or home internet for business, a reasonable percentage of those bills can be claimed as a business expense. It helps to keep a log of business usage, especially if there’s a mix of personal and professional use.

4. Training & Development

Expenses related to upskilling — such as Xero training, compliance updates, or industry certifications — are usually allowable. These courses not only support your growth but also reduce your tax bill.

5. Pre-Trading Expenses

You can claim certain costs incurred before your business officially starts trading. This might include early-stage legal advice, website design, branding, or even market research, as long as they are necessary to get your business off the ground.

A Quick Tip

Keep receipts and note the business purpose behind each expense. Revenue requires clear, well-documented records to support your claims.

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