Strange Expenses payment

[TykeMerc]

Yes, but when the chips are down you're still only better off to the tune of the tax you saved.

Good way to put it.

[Sockpuppet]

Thanks for the reply I now understand.
but..
If I had my own Ltd company would I pay myself full expenses first before I calculate the rest of my salary ?

Yes, but when the chips are down you're still only better off to the tune of the tax you saved.

[Virtual Lover]

Thanks for the reply I now understand.
but..
If I had my own Ltd company would I pay myself full expenses first before I calculate the rest of my salary ?

[LisaContractorUmbrella]

Hi, I am with an umbrella company, I submitted a weeks expenses .. only mileage it came to £80, on my pay slip it said, expenses allowed £80, but when I compare it to last week’s payslip I actually only received £36.72 and my holiday pay had also reduced, I don’t understand I always thought expenses were deducted at source, am I wrong to think that ?

IF your expenses are not going to be repaid in full by your agency then you will only receive the tax benefit of the claim from your umbrella company i.e. the value of the expense will reduce your taxable pay.

[Virtual Lover]

Hi, I am with an umbrella company, I submitted a weeks expenses .. only mileage it came to £80, on my pay slip it said, expenses allowed £80, but when I compare it to last week’s payslip I actually only received £36.72 and my holiday pay had also reduced, I don’t understand I always thought expenses were deducted at source, am I wrong to think that ?