Expenses

[alitech]

No it is not, it is a global oil and gas company

[TheCyclingProgrammer]

Louisa is right, Patrick is wrong.

The expense is not deductible for corporation tax because IPSE is not a registered professional body with HMRC. To become a registered professional body with HRMC, the organisation needs to register their membership database with HMRC - and I'm glad that IPSE aren't going to tell HMRC who their members are

As I said..."reasons".

[TheCyclingProgrammer]

Here's a quick answer for you:

1. Ipse

Yes, get the invoice in the company name, but you'll need to add this back when calculating your corporation tax, its not tax deductible for YourCo for reasons outlined already.

2. PI, EL, PL insurance

These are fine.

3. Sickness and life cover

No, not generally. There is a type of life assurance plan called a "Relevant Life" plan which can be put through the books, but normal life assurance and critical illness cover cannot without incurring a BIK charge on you personally.

4. Mobile phone contract (including the phone itself)

Yes, as long as contract is in company name. Company can also buy handset for you to use with a personal SIM. If you use a personal SIM you can only claim for business calls.

5. Home broadband, which I will use about 20% for business purposes

Nope. Needs to be in company name and if you already have home broadband it would need to be an additional connection - HMRC are unlikely to be convinced that a single broadband connection serving your home is wholly and exclusively for business purposes regardless of whose name it is in.

6. Telephone line (can consider a voip line as well-better for paying per call with sipgate)

Pretty much the same as above. An extra line, or a VOIP line in the company name used for business separate to your home phone would be allowable.

7. A very light laptop so I can travel between offices without lugging the heavy as **** laptop that I was given

If you need a laptop do to your job, its allowable.

8. A bluetooth headset that i can use for all my calls on skype.

Seems a bit of a stretch that it would be wholly and exclusively for business purposes to me but you probably wouldn't have any problems putting it through, especially if supplied used with a company supplied phone.

[malvolio]

1. In order for these locations to count as temporary for travel and subsistence purposes you would need to have been travelling to them for less than 24 months and the time that you spend at that client site would need to represent less than 40% of your working week.

2. Agreed with Louisa.

3. If the IPSE membership is in your name then it would not be allowable and may generate a taxable benefit in kind but if the subscription is in the company's name then the benefit in kind may not apply.

4. Of course, you will need to be aware of the changes to the FRS coming in April.

Bit late to the party but IPSE membership is for the company and is a fully allowable expense. You can't, however, offset it against CT for reasons far too obscure to explain here.