Reply to: Common costs to expense for?

[SackmanandCo]

you have covered most of the expenses. can also claim for IT costs, mobile, broadband and in some circumstances use of home

[TheFaQQer]

Do they have to be in the company name if you only use them for company purposes ? E.g. mobile phone.....

Mobile phones there is an exemption - if the contract is in the name of the company, then you can claim the whole bill. If the contract is not in the name of the company, then you can only claim business related calls (no personal calls, no line rental)

[SueEllen]

Do they have to be in the company name if you only use them for company purposes ? E.g. mobile phone.....

As said twice before -

Ask your accountant

that's what you pay them for.

[northernladuk]

Why does everything have to be troll based? Maybe noobies want to understand the playing field which is what this forum is for

Myabe the 'noobies' you are refering to put a bit of time and effort in to researching how to run their business rather than asking lazy questions to a bunch of people that are tired of answering the same question.

As there is so much on here to do with expenses and it takes seconds to find it we can only assume you are trolling. Simples

Mobile phone and internet, so long as the contracts are in your Ltd Co name.

Don't put your business attire (suits etc) through ... I know some contractors that do this but it is not allowed.

Subsistence and lunch are only allowable if you are away from home overnight or have been away from home more than 12 hours (has this rule changed recently?).

Do they have to be in the company name if you only use them for company purposes ? E.g. mobile phone.....

[Gonzo]

Why does everything have to be troll based? Maybe noobies want to understand the playing field which is what this forum is for

You will find that people who do their research and ask questions about that will get sensible answers.

People that ask to be spoon-fed answers get short-shrift.

There are some perfectly good first-timers guides on this website, on the Professional Contractors Group website, on the SJD Accountancy Wesbite and also the Nixon Williams website. They have all the information you need.

When you have looked through those if you still have specific questions you will get sensible answers from the people on here. Otherwise you can **** off.

Has someone suggested that you ask your accountant yet?

[joey122]

Why are we feeding this particularly obvious troll?

I smell a troll as I can't believe that a real person can ask such a daft question.

Why does everything have to be troll based? Maybe noobies want to understand the playing field which is what this forum is for

[pmeswani]

Why are we feeding this particularly obvious troll?

I smell a troll as I can't believe that a real person can ask such a daft question.

We are feeding this troll because we have nothing better to do.

[TykeMerc]

Why are we feeding this particularly obvious troll?

I smell a troll as I can't believe that a real person can ask such a daft question.

[AZZIK]

How do you do this? As petty cash?

Come on mate...

[ratewhore]

Ok new to all this contracting stuff so I d be interested in the kind of things people put through as expenses. I can see

Accountancy costs
legal fees
computer equipment
some stationery
lunch ?? Do you need a receipt?
Travel? Again do you need receipt
books

are there any other expenses which you can charge to the company WITHOUT keeping receipts ????

What expenses do people put through which would be useful for a noobie??

You can expense anything you want. It's whether it is a benefit in kind that is the important thing.

Ask your accountant. That's the only bit of advice you need. Anything else on these boards is at best, conjecture, at worse, pure fantasy...

[pmeswani]

Mobile phone and internet, so long as the contracts are in your Ltd Co name.

Don't put your business attire (suits etc) through ... I know some contractors that do this but it is not allowed.

Subsistence and lunch are only allowable if you are away from home overnight or have been away from home more than 12 hours (has this rule changed recently?).

My accountant has informed me of some new HMRC scheme to standardise what can and cannot be claimed, so even if you are working away from home for a certain length (days / months rather than hours) would become harder to claim expenses.

[ChimpMaster]

Mobile phone and internet, so long as the contracts are in your Ltd Co name.

Don't put your business attire (suits etc) through ... I know some contractors that do this but it is not allowed.

Subsistence and lunch are only allowable if you are away from home overnight or have been away from home more than 12 hours (has this rule changed recently?).

[Waldorf]

My accountant produces a useful guide, http://www.nixonwilliams.com/ard/doc...D=11&FID=13272

It seems to cover the main items.

[sweetandsour]

It is best to get a receipt for everything and keep it as evidence of expenditure in case HMRC decide to inspect your books.

You can buy blank receipt books from Staples and just make up what you like.

My company books show quite a lot is spent on Taxis.