Personal lease car and expenses

[SueEllen]

Phone lines/broadband in the company name can be claimed as a company expense so long as they are wholly and exclusively for business purposes and any private use is not significant. If the contracts are in your name you cannot claim anything except business calls.

Also your accountant will refuse to allow such an expense if for example you only have one broadband connection into your house but live with your other half and kids.

[northernladuk]

Get yourself an accountant. These are very basic questions that are answered in the newbie sections to the right and can be found with a quick Google Search. If you are struggling with this I'd hate to think how much you don't actually know you should be doing yet.

[DaveB]

Hi

I have just bought a new car on lease, can i claim any of the lease amount on my limited company or the VAT of the lease even if its partial?

Also what can i claim from the house bit as in i use my home as a office so can i claim electricity bill, phone bill/council tax etc, even if its like 20% of the total costs for everything, is this possible?

I am just confused on what i can claim back on expenses, i have read help guides and asked accountant but still nervous on whats right and whats not, i dont want to be down with very less expenses.


thanks in advance

Expenses can only be claimed when they are incurred wholly and exclusively as a result of your business.

You cannot claim personal lease costs through the company without it being subject to company car tax, you can only claimed legitimate business milage. Standard milage rates are 45p per mile for the first 10,000 and 25p per mile after that. Anything paid above that would be regarded as a benefit in kind and taxed.

If you claim more than the HMRC standard rate of £4 / week for use of home as an office then you could end up being taxed on it. If you have a separate home office that is only used for the business then you could claimed based on the actual costs incurred in having that, but if there is any domestic use then HMRC could challenge it.

[TheCyclingProgrammer]

You can't claim a share of fixed costs for working at home as there is inherently duality of purpose.

Claim your additional costs only. You do not need evidence if this is no more than £4/week but if you can show your additional costs are more (eg higher utility costs) you can claim this but you need to show how it's been calculated and evidence.

Phone lines/broadband in the company name can be claimed as a company expense so long as they are wholly and exclusively for business purposes and any private use is not significant. If the contracts are in your name you cannot claim anything except business calls.

Claim mileage for your business journeys at HMRC rates

[stek]

Hi

I have just bought a new car on lease, can i claim any of the lease amount on my limited company or the VAT of the lease even if its partial?

Also what can i claim from the house bit as in i use my home as a office so can i claim electricity bill, phone bill/council tax etc, even if its like 20% of the total costs for everything, is this possible?

I am just confused on what i can claim back on expenses, i have read help guides and asked accountant but still nervous on whats right and whats not, i dont want to be down with very less expenses.


thanks in advance

1. No, just the mileage if entitled.

2. £4 a week.

[LondonManc]

Have you got an accountant?

If not, get one and ask them.

[checkmate]

Hi

I have just bought a new car on lease, can i claim any of the lease amount on my limited company or the VAT of the lease even if its partial?

Also what can i claim from the house bit as in i use my home as a office so can i claim electricity bill, phone bill/council tax etc, even if its like 20% of the total costs for everything, is this possible?

I am just confused on what i can claim back on expenses, i have read help guides and asked accountant but still nervous on whats right and whats not, i dont want to be down with very less expenses.


thanks in advance