Originally posted by Just1morethen
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Reply to: Self Storage - expense?
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Previously on "Self Storage - expense?"
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[QUOTE=Little'Old Me;797942]
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[QUOTE=Just1morethen;797729]Originally posted by Little'Old Me View PostYes you could - if you can prove that is your intention when you made the booking is to check out the latest technologies and it was "wholly, necessary and exclusively" for you business.
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Am I not right in saying that a business expenses need to be "necessary". This only applies to employment expenses.
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[QUOTE=Little'Old Me;797709]Yes you could - if you can prove that is your intention when you made the booking is to check out the latest technologies and it was "wholly, necessary and exclusively" for you business.
QUOTE]
Am I not right in saying that a business expenses need to be "necessary". This only applies to employment expenses.
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Originally posted by centurian View PostI think I need to go to Las Vegas with the sole intention of it being a business trip to check out the latest technologies
If then decided to take an extra day or too for personal reasons its not a problem.........
Where you'd have a problem is if you booked a holiday first, and then tried to turn it into a business trip by later paying to attend a conference. Then your original intention is to have a holiday not have a business trip, so the whole thing (except the entry fee to the conference) would not be allowable.
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Originally posted by Little'Old Me View PostThe "wholly and exclusively" rule is really to do with original intention, not the final outcome.
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is the
Originally posted by BolshieBastard View PostThen its not wholly and exclusively for business is it? So no, you shouldnt claim it as a business expense.
So if you intended to have an expense that is "wholly and exclusively" (can I also add the word necessary, as this is a Ltd company not a sole trader) then you can claim it, even if you, afterwards decide to have some private element as long as the private element is not be "material"....... From time to time if the HMRC question the validity of the expense (especially when negotiating a dispensation), I will point out the "any personal use is not material" and provided I can show this, they are happy to allow it.
I have a 2nd BT line which I claim 100% of the cost because my business Fax is attached to it, and I rarely use it for personal use, and therefore my personal use is not material...... My broadband also attached is also 100% business use. I may use it occasionally to surf the net for personal use, but again this is not material because I have 3 business VOIP phones that also use it, have a secure internet based accounting package available for my and clients use, I do the bulk of my businesses using the internet etc.....
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Originally posted by ~Craig~ View PostDoes anyone know if I can legitmatly claim the costs of a small self storage unit as a business expense (£45 a month)?
The majority will be business stuff, with the odd box or two of personal affects.......
If you are using an Umbrella company then they will probably have their own rules about what you can and cannot claim, afterall you would be an employee of theirs. Years ago, I worked at Tesco for a while and although I never tried it, I don't think that they would have let me put through self-storage space on an expense claim.
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Originally posted by BolshieBastard View PostThen its not wholly and exclusively for business is it? So no, you shouldnt claim it as a business expense.
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Originally posted by ~Craig~ View PostDoes anyone know if I can legitmatly claim the costs of a small self storage unit as a business expense (£45 a month)?
The majority will be business stuff, with the odd box or two of personal affects.......
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Originally posted by d000hg View PostClaim it and make sure you can demonstrate it's not a scam if they investigate?
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Claim it and make sure you can demonstrate it's not a scam if they investigate?
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Self Storage - expense?
Does anyone know if I can legitmatly claim the costs of a small self storage unit as a business expense (£45 a month)?
The majority will be business stuff, with the odd box or two of personal affects.......Tags: None
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