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Contractor Expense claiming

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    Contractor Expense claiming

    Hi Guys,

    Im new to the wonderful world of Contracting, so please bare with me. I've begun the job and now having a few issues with my umbrella company. The 2 estimates they have sent are completely wrong, and now im being told i can only claim a certain amount in expences? I have been told the claimable amount is linked to my hourly rate, the excess is rolled over to the next month...but hang on, i can only claim that same amount so what happens to this pot of money?

    Can someone please point me in the direction of some info in regards to this, or just let me know if there is any truth in this. This was not mentioned on sign up and the orginal estimate has obviously dropped now because of this.

    #2
    Not again!!!


    Use the search button and look for yourself. This has been gone through in depth roughly weekly for the last three years. We are kind of losing interest in the subject.
    Blog? What blog...?

    Comment


      #3
      Originally posted by malvolio
      Not again!!!


      Use the search button and look for yourself. This has been gone through in depth roughly weekly for the last three years. We are kind of losing interest in the subject.
      Funnily enough, i have been searching through the posts, and funnily enough again i was just reading a post where you were having a rant at another member.

      I know the search buttons there mate, its there in all forums but my questions kinda specfic relating to expenses and hourly pay.

      A simple explanation would do the trick and il be on my merry way

      Comment


        #4
        Originally posted by TACKSMAN
        Funnily enough, i have been searching through the posts, and funnily enough again i was just reading a post where you were having a rant at another member.

        I know the search buttons there mate, its there in all forums but my questions kinda specfic relating to expenses and hourly pay.

        A simple explanation would do the trick and il be on my merry way
        You claim expenses - at least those which are chargeable - based upon what you expend. Effectively this reduces your gross income by that amount.

        It is down to your brolly to ensure these are justified, unless they have a dispensation. In this case they just pay them - but it's still down to you to justify them when your are picked for a query from the IR.

        Comment


          #5
          Originally posted by TACKSMAN
          Funnily enough, i have been searching through the posts, and funnily enough again i was just reading a post where you were having a rant at another member.

          I know the search buttons there mate, its there in all forums but my questions kinda specfic relating to expenses and hourly pay.

          A simple explanation would do the trick and il be on my merry way
          Out here in the real world, you claim for expenses that are entirely work related to the value on your receipt, and if you haven't got a receipt you don't claim them. I have no idea what your umbrella's allowable expense regime is (nor do I care overmuch) but whatever it is, that is what you can claim. If you don't understand their rules, it is between you and them, we couldn't possibly give a more informed answer.

          And I don't rant, but I do get tired of hearing amateurs who can't be arsed to run their own business properly asking unaswerable questions about expenses. If you want to set the policy yourself, get your own company, otherwise do whatever it is your master's say you can. For example, just how do you "estimate" expenses? Either you've spent it or you haven't.

          And if your umbrella is giving you grief over something so fundementally simple as "I've spent this, can I have it back", perhaps you should get a better one.
          Blog? What blog...?

          Comment


            #6
            Originally posted by malvolio
            Out here in the real world, you claim for expenses that are entirely work related to the value on your receipt, and if you haven't got a receipt you don't claim them. I have no idea what your umbrella's allowable expense regime is (nor do I care overmuch) but whatever it is, that is what you can claim. If you don't understand their rules, it is between you and them, we couldn't possibly give a more informed answer.

            And I don't rant, but I do get tired of hearing amateurs who can't be arsed to run their own business properly asking unaswerable questions about expenses. If you want to set the policy yourself, get your own company, otherwise do whatever it is your master's say you can. For example, just how do you "estimate" expenses? Either you've spent it or you haven't.

            And if your umbrella is giving you grief over something so fundementally simple as "I've spent this, can I have it back", perhaps you should get a better one.
            If having your own company make me as irate and grumpy as you, i can do without, id rather loose a few quid on expenses and let someone else work out everything for me.

            And yes i am an amatuer in this game, ive only been contracting a few weeks, but i expect your a pro in every aspect of life and business, well your are prize prat, il give you that!

            Comment


              #7
              I may well be - I'm probably not the best judge - but the right answer is in there somewhere, and the detailed answer is on these fora witin the last two weeks, so you'll forgive me querying your patience with the search tools. But hey, WGAS anyway.

              At its simplest, if you use an umbrella, you use their expense regime, whatever it may be; you do not have the option to debate it, other than by walking away; remember that you are the client, not them. And I still don't understand your original question, unless they and you are using expenses as some kind of magical tax free income generator by claiming for things you haven't spent - in which case, you're in trouble.

              But if it helps, have a starter for 10 - http://forums.contractoruk.com/thread11029.html

              Oh go on then, have another one - http://forums.contractoruk.com/thread10103.html
              Blog? What blog...?

              Comment


                #8
                This sounds like a P4 type game (we pay you minimum wage & the expenses come out of whats left, then a bonus)
                Am I right? They tried that on me once - when I was a foolish newbie contractor
                The problem is, if your expenses are high, even if fully legal - you are right - you will never get them!
                Some of these are into dodgy expenses as well - but that is on LOTS of threads.

                Comment


                  #9
                  Also insulting our resident Lionel Hutz who provides lots of free advice for everybody is not a great way to get an answer to your problem.


                  Learn to have a little respect and take critisism, you aren't going to last long in business if you don't....

                  Comment


                    #10
                    Ooooh look...

                    The accountancy experts have caught up at last...

                    http://www.shout99.com/contractors/s...le.pl?id=40014

                    Wonder why we never got credited with the original material?
                    Blog? What blog...?

                    Comment

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