Originally posted by MrMarkyMark
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Reply to: Accommodation whilst working
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Previously on "Accommodation whilst working"
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Originally posted by BrilloPad View PostMore and more are parked on the M6 on a Friday.
I'd love an hour commute each day instead of staying away. I guess it's personal circumstances though.
If you don't mind putting a lot of miles on your car, driving is a great way to get a lot of money out of your company in a very tax effective way; it's straight off the top line rather than having to subject it to corporation tax and dividend tax and doesn't impact on your takehome pay.
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Originally posted by SueEllen View PostIf the person goes cool they are probably sub-letting without the agreement of their landlord.
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Originally posted by Ted View PostAm I looking for a rental agreement here or receipts?
I've been to see a few places and when I mention either, the home owner or the person renting the room seems to go a bit cool. I guess they can get someone else in without them needing to make people aware of what they are doing.
If I did take a rental, could I then claim the travel between the rental accommodation and the place of work?
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Originally posted by DaveB View PostThere are plenty of example rental agreements if you search online. Amend one as appropriate and get the landlord to sign it, if hey dont already have one themselves. If you make it clear that you are only renting Mon-Fri then you shouldn't get caught out by HMRC only allowing claims for 5/7ths of the rate on the basis that it is available for personal use on weekends.
I've been to see a few places and when I mention either, the home owner or the person renting the room seems to go a bit cool. I guess they can get someone else in without them needing to make people aware of what they are doing.
If I did take a rental, could I then claim the travel between the rental accommodation and the place of work?
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Currently commuting 1:45 to 2:00 each way.
Will be getting a room, to use on Tuesdays and Thursday nights, making Monday the only day I go there and back.
I find a room is cheaper than hotels, AND you get to leave all your gear there, clothes, food, AND the flexibility of turning up as and when you want.
Factor in cheaper meals when renting a room. You'll be spending more eating out in hotels, making a room cheaper.
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Originally posted by Ted View Post
The commute is killing me and my car - as well as adding 10+ hours onto my working week
Commute on a Sunday night, stay 3 nights in a hotel, and commute on Thu/Fri. Fridays are usually better for traffic anyway.
This is far more flexible and you can cancel at short notice.
If you find that 5 days a week is really what you want then you can commit to something longer term.
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Originally posted by Ted View Post
EDIT: If I get a room through a site like spareroom.co.uk etc. it is highly unlikely that the provider will be in a position to offer receipts - as they are just people letting out rooms in their houses. Does this have an adverse effect on putting it through expenses or how is this handled?
Thanks.
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2 out of my last 3 gigs have been approx. 90 miles from home, and I elected to stay close to Client. I found a decent room via Spareroom for the earlier of the two gigs, which was within 2min walk to that Client office.....and then, when I took current gig on, I went back to same room, albeit now with a 25min drive each way to ClientCo.
As has been said, fine to have YourCo pay for accomm., subject to certain criteria including 24-month rule.......and, as has also been said, it is still kinda your money, albeit with 'discount' in terms of Corp Tax and so on.
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Originally posted by Ted View PostThanks - I'll definitely be speaking to my accountant. I'm only been contracting for a few months now so I just want to understand things before I go and get bombarded with accountacy lingo.
I suppose at a stretch, I could get a receipt book for the landlord and get them to fill it in for me. Hopefully that would suffice.
I presume my company would be able to 'save' 20% of the rent when tax is due to be paid?
Doesn't matter if you pay out-of-pocket and reclaim from YourCo, or using the company debit card, or via bank transfer, the end effect is the same. Just make sure you keep accurate records.
Fwiw, I prefer to pay direct from the company wherever possible, mostly cos I find that makes for simpler for bookkeeping. Also fwiw, while starting out I found it useful to keep a handwritten "primary record" - date, description and amount scribbled in the back of a notebook - as a fallback and to save me forgetting to enter stuff electronically.
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Originally posted by cojak View PostNo problem Ted, it's not often that OP's answer their own questions.
Have a look at airbnb or sparerooms - I've used sparerooms and I have friends who use airbnb for this kind of Mon-Fri accommodation.
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