Inland Revenue Dispensation........

[cukmafia]

this thread is dead

Due to the amount abuse thrown at PTV by simon & the gang it has distracted from the core issue

are "per-Diem's" subject to tax, the IR say "no"

SJD & Debbie lane say "yes", but don't describe how one discloses this to the IR.

They talk about getting "caught" in an IR inquiry.

One could run the same argument about the mileage rate. This is because the mileage rate assumes a car with a depreciable value of 5-6k, so if you run around in £300 car, you have derived and benefit because you have not incurred the depreciation expense. therefore it taxable.


but we no thats no true.:rolleyes

[xoggoth]

Re: this thread is dead

Just as well on that last one. My van is worth about ten quid.

[Vetran]

Re: this thread is dead

My company offsets VAT on purchases against VAT on sales and there is a material benefit. Flat rate VAT negates that offset benefit completely. I think you may have missed the point.

If the purchases are less than the percentage of vat, which under an umbrella managed company they are likely to be(you aren't going to buy PC's for a company you don't own), then the UC could end up in profit with flat rate vat.