Reply to: Company expenses for accounting only.

[JustinTime]

Hear hear. It's only trolls and knobs over there...

FTFY.

[malvolio]

If you are an IPSE member, you could always try their friendly, welcoming forums for advice and guidance.

Hear hear. It's only trolls and knobs get kicked over there...

[TheFaQQer]

I fail to understand why every other reply on this forum is so aggresive or condescending.

If you are an IPSE member, you could always try their friendly, welcoming forums for advice and guidance.

[LisaContractorUmbrella]

I was asking if there are other such allowable expenses such as the home office flat fee that can be put through the books legitimately. I will go back to my accountant for their advice, but would also like to know what other expenses without reciepts that other IT contractors are legitimately putting through the books.

I fail to understand why every other reply on this forum is so aggresive or condescending.

People on here don't mean to come across that way (well most of them) but your post kind of reads like you are trying to get something for nothing and that sort of thing tends to put people's backs up.

[TheCyclingProgrammer]

Being legal seems to be down to interpretation, for example the Nixon Williams advice on their website for office furniture states that the personal usage should be insignificant (not wholly for business use) and if below £300 is unlikely to be questioned.

Unlikely to be questioned is not the same as not needing a receipt.

"Wholly and exclusively" doesn't directly relate to usage, it relates to purpose. If you need furniture for your home office then it should be allowable but you still need a receipt. The advice about personal usage not being significant essentially means that so long as the sole purpose for buying the furniture was for the business, then it doesn't matter if you sometimes use it for personal reasons.

Just because something could have duality of purpose, doesn't mean it does but in the event of an enquiry you must be able to justify an expense. If you need to purchase a TV for the business for example, its a lot easier to argue it was wholly and exclusively for business purposes if you're a console games developer and its set up in your dedicated home office than if you design websites for a living and its set up in your living room. Likewise, if you have a detached office at the end of your garden it might be reasonable for YourCo to buy a small sofa for the office so you have somewhere you can sit besides your desk when you're at work, but if you just work in the spare bedroom then it might be harder to justify. Its all about context.

[TheCyclingProgrammer]

So i've just got my year end accounts back from my accountant with the corporation tax figures.
I was expecting to see some additional expenses in there such as the £200 or so you can put through as home office costs.
Im going to go back to my accountant and ask what can be added, in the meantime what other things do you put through without receipts?

Cheers.

The only thing you can legitimately put through without a receipt or some other form of evidence (e.g. trip logs for mileage claims) that I can think of is what you've already mentioned - the £4/week allowance for use of home.

[stek]

+1 to that.
It's really not worth the hassle sometimes.

Aye but 2p is 2p...

[darrylmg]

I have receipts for all of my expenses (bar mileage). If I don't have a receipt I don't claim it.

+1 to that.
It's really not worth the hassle sometimes.

[cojak]

I have receipts for all of my expenses (bar mileage). If I don't have a receipt I don't claim it.

[gbonner]

Being legal seems to be down to interpretation, for example the Nixon Williams advice on their website for office furniture states that the personal usage should be insignificant (not wholly for business use) and if below £300 is unlikely to be questioned.

Hence my original question of what else do other contractors put through the books.

[malvolio]

I was asking if there are other such allowable expenses such as the home office flat fee that can be put through the books legitimately. I will go back to my accountant for their advice, but would also like to know what other expenses without reciepts that other IT contractors are legitimately putting through the books.

I fail to understand why every other reply on this forum is so aggresive or condescending.

Because you have failed to grasp the two basic rules that keep you legal: you can only claim expenses you have spent and expenses have to be wholly and exclusively for business reasons. And it's all written down over there --->

HTH...

[TheDandy]

I was asking if there are other such allowable expenses such as the home office flat fee that can be put through the books legitimately. I will go back to my accountant for their advice, but would also like to know what other expenses without reciepts that other IT contractors are legitimately putting through the books.

I fail to understand why every other reply on this forum is so aggresive or condescending.

£3-£4 per week for office.

[gbonner]

I was asking if there are other such allowable expenses such as the home office flat fee that can be put through the books legitimately. I will go back to my accountant for their advice, but would also like to know what other expenses without reciepts that other IT contractors are legitimately putting through the books.

I fail to understand why every other reply on this forum is so aggresive or condescending.

[malvolio]

I don't tell my accountant to claim such things, they are picked up from the spreadsheet weboth use to track MyCo income and expenditure. If you haven't paid it, or haven't recorded it anywhere as paid not only will your accountant not see it for year end you are evading tax, by claiming relief for something you haven't spent.

It's your company. Operate it properly.

[northernladuk]

Just a question.. you say you expected them to be in there? So you are rely on your accountant to put them in for you? He should be advising you but he shouldn't be doing it for you IMO.