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New LtdCo & Expenses

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    #11
    I suppose one thing to consider is that however many 'employments' yourco conducts in any single tax year you, the claimant, will only ever be employed by yourco thus only one lot of 10000 miles @ 40p can be claimed.

    I may be wrong and if so please correct me as it would benifit me greatly if I was wrong.


    I read the original post as being employed by both umbrella and own company in the same year viz:

    I know when i was working with the brolly i could claim 40p per mile for first 10k per year, do i have to take into account miles done through the brolly, it was for two different contracts if that makes sense and this present contract has only ever gone through myltd?

    - if the one umbrella throughout or own co throughout then one amount of 10000 miles - if part umbrella part own co then two lots of 10000..

    Get booklets 480 and 490 from HMRC site (or I think they are on the employer's CD ROM?) . When I started contracting all IR gudance was totally incomprehensible but they have been quite good for a few years

    Or try the free information at http://www.contractoralliance.co.uk/...ctor_expenses/

    Bob

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      #12
      Originally posted by Bob Jones View Post
      Are you the same Bob Jones or is that pure coincidence?

      QB.

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        #13
        I am the same - no coincidence ....

        Bob

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