Hello,
First post on the forum.
I'm a UK contractor with an umbrella, and I have an accounting question.
I've reached my 10k mileage limit with my existing umbrella, so I'm paid the lower rate per mile now (0.25).
My mileage is offset against my salary.
My question is; if I change my umbrella company, will I be able to claim the higher rate again, or does the lower rate limit follow you from one company to the next in any tax year?
My current contract is up at the end of this week, so it makes sense to act now if it's legal.
If it's not legal and the tax man sends me a bill when I submit my P11D next April, then there's no point.
Thanks.
First post on the forum.
I'm a UK contractor with an umbrella, and I have an accounting question.
I've reached my 10k mileage limit with my existing umbrella, so I'm paid the lower rate per mile now (0.25).
My mileage is offset against my salary.
My question is; if I change my umbrella company, will I be able to claim the higher rate again, or does the lower rate limit follow you from one company to the next in any tax year?
My current contract is up at the end of this week, so it makes sense to act now if it's legal.
If it's not legal and the tax man sends me a bill when I submit my P11D next April, then there's no point.
Thanks.
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