Limited company expenses

[jag943]

Hi all,

I have just started a limited company as an IT contractor and I was wondering what kind of expenses I can claim ? apparantly there are lots and I'm well aware of the obvious (travel, food etc), but is there anything else i.e. rent for the room in a house, gas, electric, water, internet). I left the umbrellas as they were charging silly amounts of money, but I still want to be better of so any advice would be much appreciated.

thanks

[wendigo100]

You can get relief on rent boys. MPs are famous for doing it.

[VectraMan]

You can get relief on rent boys. MPs are famous for doing it.

It's essential that when you go to a rent boy, you remember to ask for a receipt.

[xoggoth]

If just alternative to hotel, rent is ok, plus reasonable expenses like cleaning, electric etc (not rates for some reason or at least that used to be the case). Best to download booklets 480 & 4980 from IR websites, they have most of it.

[jag943]

what is a rent boy ?

[cojak]

what is a rent boy ?

You're not going to get any sense when you post a question like this on the General board instead of Account/Legal.

But after that reply you probably don't deserve anything better.

Ask [email protected] - he'll be able to answer all of your questions...

..or get yourself a decent accountant.

[Denny]

Hi all,

I have just started a limited company as an IT contractor and I was wondering what kind of expenses I can claim ? apparantly there are lots and I'm well aware of the obvious (travel, food etc), but is there anything else i.e. rent for the room in a house, gas, electric, water, internet). I left the umbrellas as they were charging silly amounts of money, but I still want to be better of so any advice would be much appreciated.

thanks

There's an expense called 'umbrella' costs. You can claim against the price of an umbrella if you get caught in a downpour - but only if you can prove you were on your way to or from work. Make sure it's black though - because it looks more businesslike. A bright colour looks unbusinesslike and Gordo might conclude that this is a private use umbrella too and you could come seriously unstuck and open to an IR investigation if you need to send it off to your accountant as evidence. Some dodgy accountants might even encourage you to claim for shampoo too if your hair got wet struggling to get the thing open, and and some even dodgier ones even allow an electricity allowance for using the washing machine and tumble dryer if your clothes got wet . Avoid these accountants like the plague. Only the black brolly is an allowable expense.

There's lot of umbrella companies that can give you advice on this IR approved dispensation.

[cojak]

see what I mean?

[snork.. good one Denny... ]

[ChimpMaster]

It's essential that when you go to a rent boy, you remember to ask for a receipt.

Don't forget to leave him a deposit

[sasguru]

This is obviously a wind-up. Nice one, Spod.