*The Commerce Journal>>>United Kingdom Taxes

I'm a self employed builder and have purchased (through the business) a house to renovate and sell on.?

What expenses can I claim against the profit ? Am I able to "bill" the company for the time that I have spent on the build ?

What do you mean by ancilliary expenses ? Am I able to reclaim the VAT incurred on the materials, etc ?

As you're self employed, there is no "company", only you.
You can claim all the expenses incurred in the renovation, plus the usual ancillary costs which you suffer as a builder. The difference between those costs (in total) and the sale monies represents your profit, and is taxable as income.

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