Hey guys,
Long time lurker first time poster, it’s a great board and network of sites and has helped me to no-end the last few months just as I’ve been starting up – so thank you!
A few questions I hope someone can help me with, I have arrived from Australia recently and just trying to transfer my tax knowledge from there to here and need some help. I have had a search for this stuff and haven’t had much luck. The HMRC site can be a bit of a maze!
A bit of background, I am the sole director and sole employee of my own LTD Company and am contracting outside IR35.
Question 1…
Can I claim overtime meals, evening and breakfast if I work longer hours on the weekend during outages or out-of-hours scheduled work? Something similar to this?
http://www.ato.gov.au/individuals/co...p=001&st=&cy=1
On the same thread as above, I’m working at a temporary site ( 2yrs < ) so provided I get a VAT receipt and it is a “reasonable” amount, can I claim lunch every day as a straight out deduction?
Question 2 about relocation,
I arrived in May and got work within a few days of arriving (what credit crunch?), On the current contract I switched over from PAYE to my own LTD at the start of July. Can I claim relocation costs incurred before the LTD started trading? I.e. flights, temp accommodation, excess baggage from May/June? I clearly came over here for work, with plenty of evidence I am here for the long haul and started looking for work right away… There is just a question of claiming the deductions from before the LTD started trading.
Question 3
Is there a limit on how much I can spend on computer equipment? In Australia computer systems over a certain amount had to be written off over two or three years, but cheaper individual components could be claimed fully in the year they were purchased. How does that work over here with large purchases?
Question 4
If a purchase can be put though the business as a benefit that comes under “Class 1A NIC” taxed at 12.5%, the bottom line will always be better compared to if I paid it out of my salary after PAYE TAX/NIC ?
And the last one…
I provide IT Services, like the majority of people here I assume. If a friend volunteers their services to my LTD and I gave them a mobile phone for use to help them do the job – is that ok? I’ll still have only one director/employee (me) but two mobile phones on a contract through the company… can both of them be fully deducted?
I have had a search for these on the HMRC site, boards and given Google a fair old bash but didn’t really come up with anything to really go on, any pointers anyone can throw my way would be appreciated!
Thanks
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