GIANT and a Change of Expense Procedures

[trumpetman]

Hi all,

Apologies if this has already been covered but I have an issue with regards to non-billable expenses.

Previously with GIANT you used to just complete them on-line, claim your mileage and subsistence for the week and submit it all ok. This worked perfectly but for some reason they've cracked down on it and want receipts for all non-billable expenses.

Does anyone have any advice on a way forward? Does anyone have a company that allows these expenses without receipts still?

Any advice is very welcome.

Cheers,

Nick.

[Pondlife]

* Wanders off to find a broom to sweep up the debris from heads hitting walls

[Swiss Tony]

Hi Nick,

The reason for all the new expense claims is due to a change in the law regarding the way umbrellas are run. To be honest I am not sure of the intricate details of all the new changes, though as I understand it most ‘reputable’ (lets not go there!) umbrellas will be changing their format in one way or another.

Only reason I know is that I have a number of clients who are experiencing the same issues with their umbrellas and I ran it past our accountants earlier this week.

Have you considered getting in touch with a good accountant and running your own LTD Company? With all the changes it looks like you will be doing a similar amount of work either way.

Hope this helps

Tony

[Sockpuppet]

Running your own LTd will not solve this. You will be able to claim for anything you like but if you dont have the reciepts they will be BIK and you will get taxed on them.

Guys, face it the days of using false expense claims to dodge tax are over

[Maxamus]

To be honest with you, you should be keeping reciepts for all expenses because without them the inland rev take the view that they were never incurred and could ask you to pay the tax back on them.

And if you have been claiming subsisdence then this would be backed up with accomodation costs for when you stayed away. Because i found out today that subsisdence can only be claimed if you are staying away from home and CANNOT be claimed if you return home every night after work.

Forget umbrella companies. Just setup your own Ltd company. It will be cheaper and will give you complete control of your money and you will be able to claim back for more items and could (depending on the nature of your business) make some money on the flat rate VAT scheme. Its the way forward

[Cowboy Bob]

Hi all,

Apologies if this has already been covered but I have an issue with regards to non-billable expenses.

Previously with GIANT you used to just complete them on-line, claim your mileage and subsistence for the week and submit it all ok. This worked perfectly but for some reason they've cracked down on it and want receipts for all non-billable expenses.

Does anyone have any advice on a way forward? Does anyone have a company that allows these expenses without receipts still?

Any advice is very welcome.

Cheers,

Nick.

You have ALWAYS needed receipts for expences just that GIANT didn't used to need to see them due to their dispensation. If the taxman investigates you and asks for the receipts and you don't have them, then expect to spend some time at Her Majesty's pleasure for fraud.

Do you honestly think that it is legal to claim for expenses that you haven't incurred?

[Goya]

To be honest with you . . .

Maxamus, have you been on an English Language boot camp (probably held in India!) over the last couple of days? Your written English appears to have improved somewhat.

[Sockpuppet]

No there was maximus and maxima registered almost the same day

[Goya]

No there was maximus and maxima registered almost the same day

Oh, thought that was a rather sudden improvement!

[mictech]

Giant has encouraged there client to claim full expenses on there dispensation and never told me would have to have receipts to back them up. We have had it good for a long time and I suspect because of there size they consider themselves safe from investigation.

The new rules are designed to divide and conquer, breaking up the large groups which are to complexed to investigate. You either stay with the Giant etc and pay more taxs or go it alone and he an easier target for IR to investigate.

I switched from a Ltd to giant last year for the allowances, easy life and have made some extra money. The holidays over it look like back to Ltd with the 2 hours a week doing book and invoices etc. Unless anyone can come up with a better idea?????