I have recently got a 6 mth gig close to home (10 min drive) :-) but the flip side of that is that I have vlow expenses now :-(. I have need to know what I can rougly claim for because before the travel was a large chunk of my expenses which was cool for me but now I need to find other areas in which i can claim for (which I most probably should have been claiming for in the past but never). Can I claim for utility bills, car loan, health insurances ... ?
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Is this another wind up?"Experience hath shewn, that even under the best forms of government those entrusted with power have, in time, and by slow operations, perverted it into tyranny. "
Thomas Jefferson -
You will be pleased to know that you *can* claim for absolutely anything you want. So yes, all those utilities bills, beer, fags, health insurance can be claimed.
A quick search should yield the likely tax implications of this for you.Comment
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Have i missed something here.....why do you want to find things to claim as expenses ??Originally posted by a7awo View PostThats the way the cookie crumblesComment
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I am afraid that you cannot 'find' expenses to claim a7awo. Business expenses are those costs which are incurred wholly and exclusively because of your contract. If you don't spend anything other than the cost of your travel (for which you will receive a mileage allowance if driving) and you are travelling to the same place of work each day then there really is nothing you can claim for.Originally posted by a7awo View Post
HTHComment
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Sadly, I think not.Originally posted by Ruprect View Post
Have you taken the "Umbrella Quiz" on CUK yet? It would be interesting to know whether the OP, eddieg et al have taken it and see what the results are. There's no point in those that know the rules being the only ones who take it, though!Comment
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Yes, you can claim anything through the business - after all, it's your business!Originally posted by a7awo View Post
However, if they are not valid business expenses, incurred solely for the business, then they will be declared on your P11D and you will pay tax on them as a BIK.
So, the question you should haves asked was "can I claim anything else, which are business expenses, without incurring any additional tax liability?" The answer to that question is no.Comment
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Surely if there are virtually no expenses then YourCo makes more profit......
......therefore you can earn more money personally.
Si posse, recte, si non, quocumque modo remComment
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Where's Malvolio when you need him..
HevraComment
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Mal is taking his doctors advice and avoiding those posts that may aggravate his table induced concussion.Originally posted by Hevra View Post"Being nice costs nothing and sometimes gets you extra bacon" - Pondlife.Comment
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