Expenses to turnover percentage

[fullyautomatix]

One should be on pretty low rate and one must be living a life of a sheikh to be able to muster expenses 50% of turnover. Can we have some figures here ? Or else I will assume something dodgy going on to avoid corp tax.

[youngguy]

One should be on pretty low rate and one must be living a life of a sheikh to be able to muster expenses 50% of turnover. Can we have some figures here ? Or else I will assume something dodgy going on to avoid corp tax.

Unless you include £40k of pension pa.

500p/d is about 100k. If OP slowed 40k into pension then that's a further 10k for t and s type expenses.

Edit: ah just seen the OP didn't mention pension though! Wow, must be some lovely hotels 😀

[kolata]

My projection is that I will be running at ~33% expenses this FY.
Any cause of concern? All are legit.

[LondonManc]

My projection is that I will be running at ~33% expenses this FY.
Any cause of concern? All are legit.

If you're accountant's not worried, I wouldn't worry if CUK folk GAS

[northernladuk]

My projection is that I will be running at ~33% expenses this FY.
Any cause of concern? All are legit.

How on earth do we know if your expenses are legit? Doesn't concern me if that helps.

[MrMarkyMark]

My projection is that I will be running at ~33% expenses this FY.
Any cause of concern? All are legit.

That's what all our fine members of parliament say








33

[kolata]

That's what all our fine members of parliament say

indeed

[johndc31]

Wow 50% expenses! Even when I was paying 1500+ notes a month for 1st class travel from Brum to Euston my expenses were less than 20% of turnover, saying that I have seen some tulip rates on offer in London so can see how that would add up.

But surely that depends on what rate you get paid per day? I've seen rates on here from £150 to £500 pd, but you're right, it is high which is why I'm going to have to negotiate hard on rates going forward when onsite.

[malvolio]

As long as you are claiming only what you've spent and all expenses are genuinely "wholly and exclusively" for business purposes then nobody cares how much you spend.

Whether it is wise or foolish to be spending significant amounts of income on subsistence is a whole other question. I tend to the latter, but it's your money...

[adubya]

Just checked Freeagent and so far my expenses (not incl salary/pension) are just under 6% of turnover. I travel daily into London on the train, 40 min journey so travel/subsistence is the biggest expense category.