ltd co expenses

[NotAllThere]

£25 for breakfast at a hotel isn't unusual. £25 for lunch is pretty cheap. While you might balk at paying that yourself, if you were there privately, for an employee on business, it's peanuts.

[Jason D]

Mortage interest

Why don't you rent office space in your home to your company.

Charge the market rate and no more, minute it and draw up a rent agreement, stipulate business hours only and no visitors.

This means

The rent is an allowable expense for the company

Your rental income is offset or minimised in your self assessment by mortgage interest

No CGT implications

No business rates

[shoes]

It is simple, you can only claim expense you have incurred.

How about mileage allowance? You can't produce any proof of how far you have travelled?

[Sockpuppet]

How about mileage allowance? You can't produce any proof of how far you have travelled?

You can produce contracts that state where your site you will be prociding the services at will be.

If you say you are driving london-scotland every day then they know you are taking the mick.

[FarmerPalmer]

If your company pays a portion of your bills for a 'home office' then you are liable to capital gains tax on that portion of the property when you sell it - because its not residential.

Personally I'd avoid at all costs.

[affected]

Limited company - staying in hotels

Hi there,

I stay in a hotel 4 nights during the week and in my own house at the weekend.

Apologies if this has been answered before.

I am in a similar situation. If meals cost are not deductible, I dont want to claim. Hotel accommodation and travel cost are deductable right?

Is there any dispute in deducting actual room rent paid to the hotel and the cost of flight tickets?

[gwildfire]

What about a rented property? Can a portion of that be claimed, the guidlines I gathered were the additional cost of running an office over an above the normal domestic expsenses.
isnt it then reasonable to assume, if for example you house has 6 rooms, and 1 is for office use, 1/6th of the rent and electricity are business expenses?

On the meals thing, I stay overnight and claim meals back with a valid VAT receipt, nothing wrong with this at all, I also claim £5 ovenight subsistance without receipts as deemed here

http://www.hmrc.gov.uk/guidance/480_appendix8.pdf


The maximum amounts of incidental overnight expenses an employer may pay for tax-free are:
•
£5 per night for overnight stays anywhere within the UK, and
•
£10 per night for overnight stays outside the UK.
In calculating the total amount of expenditure any Value Added Tax (VAT) paid must be included.