New tax year tomorrow - travel expense today?

[theturning]

Hi all,

I'm just thinking, tomorrow is the start of a new tax year where we'll all be worse off (thanks George). In the changes he's taking away the ability to expense travel and sustenance.

So I was thinking of buying an Annual Travel card today (London) for the year ahead, as an expenseto stay within todays rules. What do you think? Good/bad idea?

Thanks.

[TheFaQQer]

I'm just thinking, tomorrow is the start of a new tax year

Think harder. It isn't.

[northernladuk]

Think harder. It isn't.

Only an utter moron would make that mistake...

[FatLazyContractor]

Hi all,

I'm just thinking, tomorrow is the start of a new tax year where we'll all be worse off (thanks George). In the changes he's taking away the ability to expense travel and sustenance.

So I was thinking of buying an Annual Travel card today (London) for the year ahead, as an expenseto stay within todays rules. What do you think? Good/bad idea?

Thanks.

Excellent idea. Thank you.

[vetran]

If your business year is set up to start on the 5th (which accounts seem to like) it is.

May have changed but when I looked you had to apportion purchases of significant consumables & invoices across the tax years they were used.