Re: One for simon
suggest you call your local Inland Revenue office and ask them
suggest you call your local Inland Revenue office and ask them
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Re: One for simon
Hey Simon - you're evidently in the wrong job! You'd better close down SJD immediately.
Damn - I'll have to find another accountant now...Comment
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Re: One for simon
Ah well - I was good while I lasted.
Time to move over for the new breed I suppose. Happens to us all.
You don't think that passthevas could be from a certain umbrella Co who give rather large, unreceipted dispensation "allowances" do you?Comment
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Re: One for simon
"you guys seem to think the P11d has no legal standing"
Simon is quite correct in what he says. The IR can and will investigate induviduals who are claiming as expenses costs that they have not incurred. The fact that an expense does not have to be reported on a P11d does not mean that it does not have to be receipted and genuine.Comment
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Make that vas you wanted passing ...
... a large pot. You are going to need it.
I am well aware of the difference between a company and an individual - the only similarity is that both can be fcuked over big time by the IR.
Let's just pull anothe extract from your favourite web page Mr. GreasyAss ...
So what exactly are daily expenses if not round sum allowances?What kinds of expenses payments and benefits in kind can be covered?
Any type of expenses payments (apart from round sum allowances) and most benefits in kind. Examples include
If an umbrella claims to have a dispensation to pay out unreceipted daily expenses ask to see it. If it doesn't specifically state that £x per day can be paid without receipts then the UC is operating outside their IR agreement. Which brings us back to the similarity and the vas...Comment
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Its a per diem....
I have no vested interest, I just don’t like constipated thinkers, just like I don’t like tax clerks who leave the IR and pass themselves as TAX Experts of the status of a QC’s or a senior partners in the big 4 or city law firm.
Lets look at Simon expert opinion what was his position on EBT’s? Their illegal. WONG (Gov changed the law 11/02, to make them tax ineffective). Not to mention IR35.
Now there is his Umbrella offering with “generous “ expenses allowances, did he say “generous” what the f… is generous about it? Its basic expenses based on receipted bookkeeping. Is he suggesting that if I have a receipt for £200 The IR will only “Normally” allow me to claim £20. He is like the estate agent who described a terraced has as a linked detached house. Time to grass him up to trading standards.
The Civil Service use per diems, most blue chips use per diems and none of their staff are being charge additional tax (because they don’t have a receipt for every penny of the per diem). Yeah they must be wrong and bookkeeper simon is right.
Instead of making spurious claims about “knocks on the door” to scare people away from your competitors, get an IR determination and publish it!!!!!
As to the others you should contact your tory MP with the biggest story since the fast tracking immigrants. “Local IR offices are entraping taxpayers with bogus depensations"Comment
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Re: Its a per diem....
Wow Simon, he really has got it in for you hasn't he.Yeah they must be wrong and bookkeeper simon is right.
For passthevas's information, my personal tax return was subject to an enquiry about three years ago - and the IR went through my expenses claims (which were very high due to the fact that I was weekly commuting to Brussels at the time). The IR wanted to see receipts to substantiate every single item on my expense claims (and the company concerned was paying per diems with a dispensation at the time)! Being anally retentive I keep receipts for everything so no problem in the end.
ITA also had a couple of similar cases where directors expenses were queried and in one case in particular again every receipt was examined. Again no problem, because the receipts were there.
But be warned the IR can and will ask for receipts.Comment
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Re: Its a per diem....
He does seem rather het up for someone who "has no vested interest!"
I never actually said that EBT's were illegal. I do seem to remember spending many a post warning people about the Dignatio scheme (which of course collapsed leaving about 200 contractors worse off).
Still, what do I know?Comment
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Expertise
ptv - I think you'll find that many QCs, big 4 partners and city lawyers don't have the expertise of say Simon or anyone else who specialises in the tax affairs of contractors. that's because they don't have the xperience on the ground of speaking to the Revnue and contractors as to what actually happens in practice.I have no vested interest, I just don’t like constipated thinkers, just like I don’t like tax clerks who leave the IR and pass themselves as TAX Experts of the status of a QC’s or a senior partners in the big 4 or city law firm.Comment
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Halfway house
At the risk of pouring petrol on the flames isn't it the case that the actuality tends to be somewhere in the middle?
Ultimately the IR can require proof of the expenditure, it doesn't have to mean receipts but it does need to satisfy the inspector.
Years ago I used to communte to France, company invoiced clients for the agreed fee and also a flat rate for expenses (which was at the time approx 400 gbp pw). My company simply paid me the expenses.
In the ensuing PAYE audit the inspector was reasonably content with the box of ariline tickets (all at differing price) meal receipts, taxis etc. The total value of the receipts was approx 10k against a 20k claim. We evenutally agreed he would assess me as 500 gbp BIK.
A subsequent enquiry into my tax return a couple of years ago and they were rather less happy with a total of about 5k of flat rate ex's when I was away from the main office. Ultimately he was happy when viewing credit card statements showing meals etc in the region where I was and tying up with the dates. My claims were for 30gbp per day when away overnight - normally staying with mates for the price of a curry etc. Again I was asessed for a bit of BIK.
I guess if you can paint a picture to the inspector evidencing a reasonable part of the expenditure then it will be resolved. If you can't he's simply going to charge you BIK on the lot less any receipts.
SimonComment
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