Reply to: Expenses - How much for Year

[Wanderer]

So what was that about averages??

Actually the OP asked about was "ball park figures". I think it's a good thread as I've been fortunate enough not to have to travel on business very much so never really claimed all that much in expenses. It's interesting to see how much others put through the business.

[NorthWestPerm2Contr]

£12,000 mostly on mileage, train tickets, PCG membership and some software. Also a couple of nights at a hotel and computer equipment. My first year though so entitled to it. Future years should be a fair bit below £10,000.

[Sockpuppet]

Currently around £600 a week on hotels all expensed to Client Co.

[configman]

Hi,

Just a quick question from newbie contractor.

How much is everyones expenses for the year.

Mine were @20K - Rent, travel, taxis, pc, pie, etc..

Just wanted to get ball park from others.

thanks!

There is no ball park figure - just be able to back it up if questioned by HMRC. If you can do that then as long as it is a valid business expense there is no problem.

To keep investigations at bay for abnormally expensive years you can add to your full accounts directors report etc a short piece explaining why it was so expensive that year i.e contracts requiring flights and accom. That was the advice I got from HMRC after they investigated my accounts one year.

[Zoiderman]

I spent the last year flying to a clients weekly (£250p/w) and staying 3/4 nights at a holiday inn (£200 p/w) with £25 a day food allowance (£125 p/w), £10 overnight allowance (£40 p/w) so you cna see, over a 48 week period, my expenses worked out over £40k. This year, I am working locally and will struggle to see out £10k expenses.

There is no real average; it is what it is.

[malvolio]

Gig before last - return air fares of £130 a week, 200 miles travel time, average £60 a night four nights a week for bed and food, for six months. Total around £12,000

Last Gig - 200 miles a day round trip for three months. Total £5200

Next gig - £15 a day rail fares for three months and £30 a week car parking. Total around £1350

So what was that about averages??

[xoggoth]

Obviously others don't stay at £12 a night B&Bs sharing a room with tramps like I used to.

[Danielsjdaccountancy]

The more expenses you put through the better really. It shows financial risk, which is good for IR35 purposes; also it’s another way of extracting money from the company.
The mentality I instil is that if you are paying for it to fulfil a contract then it’s more than likely you can expense it so ask your accountant.

[dx4100]

Around £4k... As usual...

I don't like spending money

[TykeMerc]

Have receipts - of course!

Would not be expenses if not.

just wondering roughly what other were.

I've spent the last 12 months working from home with occasional site visits and a few nights away, my expenses are under £4k for the period. I spent 9 months of 2009 working on the Hampshire coast and my expenses exceeded £20k.

Which would I call typical? Neither, there's no such thing as typical expenses in my book.

[Wanderer]

About £5k, bugger all really. I run a tight ship.

[test4500]

Have receipts - of course!

Would not be expenses if not.

just wondering roughly what other were.

[Danielsjdaccountancy]

WHS

If they were all wholly and exclusively for business purposes then don't worry about it.

And you have receipts to back them up.

[Clippy]

Jeez - you didn't have to say you were a newbie...

Expenses are what you paid out, in cash, directly in your line of business, no more no less. There is no average

WHS

If they were all wholly and exclusively for business purposes then don't worry about it.

[malvolio]

Hi,

Just a quick question from newbie contractor.

How much is everyones expenses for the year.

Mine were @20K - Rent, travel, taxis, pc, pie, etc..

Just wanted to get ball park from others.

thanks!

Jeez - you didn't have to say you were a newbie...

Expenses are what you paid out, in cash, directly in your line of business, no more no less. There is no average