Originally posted by Jessica@WhiteFieldTax
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Expenses - company card or own cost and claim?
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Blog? What blog...? -
Originally posted by malvolio View PostOr Plan B - get a company card, put all wholly and exclusively business expenses on there and ignore personal money completely. Result, no P11D at all... Hector won't care since there is no tax involved either way as long as they are genuine expenses.
Why make life complicated?
In fact the HMRC guidance is very clear and says the opposite. Source of payment makes no difference to P11D reporting, and why should it? Without adding that caveat your advice is at best misleading.
Originally posted by Jessica@WhiteFieldTax View PostThat said my experience over c10k P11D returns and a 0% query rate is that HMRC don't worry about reporting of clearly deductible items be they paid on private or business card, with or without dispensation: there's no tax lost so why would they?Comment
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Originally posted by Contreras View PostWrong.
In fact the HMRC guidance is very clear and says the opposite. Source of payment makes no difference to P11D reporting, and why should it? Without adding that caveat your advice is at best misleading.
Agreed. P11D is a waste of time for genuine business expenses if everyone is honest about what constitutes a genuine business expense! I imagine it could be used to red-flag potential abuse worthy of investigation, but it's a fairly blunt instrument at that.
If you're going to criticise casual advice on a public forum, at least be consistent.Blog? What blog...?Comment
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Originally posted by malvolio View PostOK, so which is right: not reporting expenses you haven't incurred and not been reimbursed for, or not reporting business expenses that are none of your concern? As I said, I know what the rules state and I know what three separate accountants (four if you count Jessica) have said about it.
If you're going to criticise casual advice on a public forum, at least be consistent.
The HMRC guidance with respect to travel expenses which makes that point clear enough.
For other business expenses, what Jessica said:HMRC don't worry about reporting of clearly deductible items be they paid on private or business cardComment
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Originally posted by Contreras View PostI'll say it again. Source of payment makes no difference to P11D reporting.
The HMRC guidance with respect to travel expenses which makes that point clear enough.
For other business expenses, what Jessica said:
Is that consistent enough for you?Blog? What blog...?Comment
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Ok thanks to everyone for your advice I think I know where I stand now. Will be going down the business debit/credit card route then for all genuine expenses.Comment
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