Travelling expenses

[PerfectStorm]

And remember the 24 month rule doesn't just apply to your contracting career so if your permie job beforehand was in the same (or similar) location then you need to factor this in.

This is a new one on me...?

[v8gaz]

This is a new one on me...?

Why wouldn't it? Its a personal allowance, not a per-business allowance. And I appreciate that the logic makes no sense.

[tails007]

Thanks for the replies. So, for the avoidance of any doubt on my part am I ok to claim for the full expenses listed below? (So long as I am mindful of the 24 month rule).

The fact that these would be the same cost each month wouldn't present any issues?

Train - £550
Car Park - £80
Mileage - £150
Oyster - £100

[Alan @ BroomeAffinity]

Thanks for the replies. So, for the avoidance of any doubt on my part am I ok to claim for the full expenses listed below? (So long as I am mindful of the 24 month rule).

The fact that these would be the same cost each month wouldn't present any issues?

Train - £550
Car Park - £80
Mileage - £150
Oyster - £100

No problems.

[TykeMerc]

Thanks for the replies. So, for the avoidance of any doubt on my part am I ok to claim for the full expenses listed below? (So long as I am mindful of the 24 month rule).

The fact that these would be the same cost each month wouldn't present any issues?

Train - £550
Car Park - £80
Mileage - £150
Oyster - £100

Not an issue at all. If challenged you can produce receipts and you can justify the travelling for business reasons.

[Boney M]

Any response to my post OP?

[jmo21]

Thanks. .. 20% is quite a lot on that amount. ... is there another option then that I'm not seeing?

You think 20% is a lot, but you want another option?
Can you rephrase your question?

To make it clearer, the money in your company account has been earned by, and is owned by your company.

But effectively, you are going to pay it out as salary and divvies to yourself (and maybe your wife as a shareholder if you are set up that way), as well as pay corp tax on the profit.

So when you "claim" expenses, it is coming out of money you would have paid out to yourself anyway. By having your company reimburse you the employee the whole travel amount, you then will not have to pay 20% corporation tax on that amount had it stayed in your company.

So your not getting a free £1000 for example, you are only saving 20% of that, £200 overall.

And you don't receive that £200 from anywhere, either to you personally, or to the company, your corp tax bill is just £200 less.

[jmo21]

Why wouldn't it? Its a personal allowance, not a per-business allowance. And I appreciate that the logic makes no sense.

It actually makes perfect sense to me.