Treatment of mobiles and car Milleage

[css_jay99]

I have some questions

1) How do i charge my Ltd Co. for Milleage when travelling to/from work
2) I work away from home hence means having to make a more personal calls from my mobile due to lonleyness. NOT sex lines ! Just in case you are getting ideas !
Can I just convert my phone to a business phone or not worth the hassle?
3) Also any idea of mobile provider with a lots of free talk time at a cheap monthly fee.

cheers

css_jay99

[Flubster]

1. 40p/mile for first 10,000miles, then 25p after than
2. On a personal phone, you can only claim calls made for business reasons. Alternatively, get a phone on a business contract then YourCo lists this as an expense.
3. check the web. Orange business plans are pretty good.

[css_jay99]

1. 40p/mile for first 10,000miles, then 25p after than
2. On a personal phone, you can only claim calls made for business reasons. Alternatively, get a phone on a business contract then YourCo lists this as an expense.
3. check the web. Orange business plans are pretty good.

thanks.

Regarding the milleage, so what you are saying is that If
1) I do 265 miles a week then i should pay myself and expence of £106
2) once mileage accounted for is =10000 then I should reduce the charge to 25p/mile

any of this attributable to Benefit in Kind ? or just purely business expenses

cheers

css_jay99

[Pondlife]

thanks.

Regarding the milleage, so what you are saying is that If
1) I do 265 miles a week then i should pay myself and expence of £106
2) once mileage accounted for is =10000 then I should reduce the charge to 25p/mile

any of this attributable to Benefit in Kind ? or just purely business expenses

cheers

css_jay99

If you claim the 10,000@40p plus 25p ongoing there is no BIK.

HTH

[ASB]

thanks.

Regarding the milleage, so what you are saying is that If
1) I do 265 miles a week then i should pay myself and expence of £106
2) once mileage accounted for is =10000 then I should reduce the charge to 25p/mile

any of this attributable to Benefit in Kind ? or just purely business expenses

cheers

css_jay99

Possibly not. If you are a 40% taxpayer it *might* be in your interest to make no cliam. This will increase profit by that amount which will then be distributable but will only suffer 19% CT.

You can still claim the 10k @ 40p /balance at 25p against your income thus getting releif at 40%.

If you actually distribute the remainig 81% of the amount then it will make little difference because of the extra income tax payable on the dividend anyway.

[css_jay99]

cheers,

i think i will claim the money now.

i have not paid myself divs yet, do i have to go via any special arrangements/forms to declare and pay myself ?.

whats the best frequency

[xoggoth]

booklet 480 specifically mentions phone calls home as covered by the £5 PIE

[triboix]

i have not paid myself divs yet, do i have to go via any special arrangements/forms to declare and pay myself ?.

Yes, definitely! You have to make a declaration to HMRC. The best is to talk to your accountant about that.

whats the best frequency

Apparently, it is best to avoid monthly dividends. It looks like a salary... Better is to do it quarterly.

HTH, IANAA, etc.