New Contract - Daily Expenses

[psychocandy]

No I definitely did not do that

ok whats contract say?

[zayn]

What is "the LTD" in this context? Your Limited Company that employs your personally, or the agency, or the end client?

LTD in this context is My Limited Company that Employs me.

[TheFaQQer]

LTD in this context is My Limited Company that Employs me.

So I refer you to the answer I gave some moments ago:

So you incur expenses, you claim them back from your limited company. If they are agreed with the client, then your limited company adds the expenses to the invoice, adds VAT to that invoice line, and the agency pays it. Agency then invoices the client for the work and expenses.

This assumes that this is prior to April 2016. After April 2016, if the role is inside IR35 then you don't claim travel and subsistence from your company (or if you do, you declare it on your P11D as a benefit in kind).

Personally, I'd be wary of being employed by my company because of the need to pay NMW and all that fun and games that being an employee rather than an officer entails, but it;s your call. What does your contract of employment say about being reimbursed?

[zayn]

So I refer you to the answer I gave some moments ago:


Personally, I'd be wary of being employed by my company because of the need to pay NMW and all that fun and games that being an employee rather than an officer entails, but it;s your call. What does your contract of employment say about being reimbursed?

Here is a copy of the agreement ..

[LondonManc]

LTD in this context is My Limited Company that Employs me.

You shouldn't be an employee, you should be the Managing Director.

[Alan @ BroomeAffinity]

Has the op possibly confused the ability to claim tax relief on expenses with the ability claim expenses? Apologies if not but its not unheard of.

[zayn]

Has the op possibly confused the ability to claim tax relief on expenses with the ability claim expenses? Apologies if not but its not unheard of.

I am not registered for VAT so how/Why would i be claiming the tax relief ? Claiming Expenses is what i initially asked about, but it seem's that i am able to to this anyway for the standard daily items through the Ltd Scheme

[Alan @ BroomeAffinity]

New Contract - Daily Expenses

I am not registered for VAT so how/Why would i be claiming the tax relief ? Claiming Expenses is what i initially asked about, but it seem's that i am able to to this anyway for the standard daily items through the Ltd Scheme

There's more than VAT to consider. Apologies if I've deviated from the thread topic but you should be aware of how the tax system works. You would appear not to at the moment.

So who is paying the expenses through the "standard limited scheme"?

[stek]

I am a Client working onsite as in your example BarCap , But the goal post's seem to have changed the Agency Consultant who got me the Gig said initial 3 months rolling now i read the contract it say only until 31st March 2016 . I have already setup a LTD company through an Accountant, but at present this is going to be very costly if i cannot claim back any daily expenses ..

You won't be able to claim of the client, only gain tax relief against your Corporation Tax...

[Alan @ BroomeAffinity]

You won't be able to claim of the client, only gain tax relief against your Corporation Tax...

That's what I was driving at. [emoji1]