Originally posted by BolshieBastard
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Reply to: Expenses!
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Previously on "Expenses!"
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Originally posted by malvolio View PostSo fill in an SAR and get it soerted over next year. It's not actually that hard.
And a degree of reality checking would help perhaps - you're talking about £500 that you haven't actually lost and will get interest on at above the going rate.
Also remember that you can do your SAR now and get your tax code amended as you've over paid. That will be sent to brolly who will use it from next wage slip. Simples.
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Originally posted by Bones View PostBasically yes, the point is that I am owed several weeks tax free!
I have looked at the P87 form previously but initially moved on as its limited to £2500 and the next option is filling in a tax return at the end of the year and probably for the next three years and maybe getting the tax relief some time next year, maybe. Not a good option. So I might go back to the P87 and limit the claim to £2500, Ive no Idea how the relief comes back or when?
And a degree of reality checking would help perhaps - you're talking about £500 that you haven't actually lost and will get interest on at above the going rate.
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Originally posted by Bones View PostI dont have an accountant I have a new umbrella company who has dropped me right in the sh@&
Just say 'NO!' to brollies!
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Originally posted by Sockpuppet View PostWhen you say claim do you mean....
Hotel costs £100 so you add £100 to your bill for the client.
or
Hotel costs £100 so you offset £100 against your tax bill (saving between £20-£50 depending on tax rate).
I have looked at the P87 form previously but initially moved on as its limited to £2500 and the next option is filling in a tax return at the end of the year and probably for the next three years and maybe getting the tax relief some time next year, maybe. Not a good option. So I might go back to the P87 and limit the claim to £2500, Ive no Idea how the relief comes back or when?
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Originally posted by Clare@InTouch View PostTry this http://www.hmrc.gov.uk/forms/p87.pdf
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Originally posted by Bones View PostA little bit of background, after finishing uni as a mature student I started working on contract in mid June through the companies own agency who pay you PAYE but don’t deal with expenses etc so I was looking to either start a ltd company of go Umbrella (for the first time).
After a bit of contemplation I opted for umbrella for simplicity as the contract isn’t that long (6 months or so). Then I had to find a decent one so started to speaking to a few, settled on a well know company and signed up with. Received a call from one of the consultants and I explained my situation and why I was wanted to join them, mainly for expenses purposes. I asked about all of the expenses I had already incurred and was told that wouldn’t be a problem I could claim them against tax when my contract changed to them, which seemed reasonable. I gave details of typically how much they were a week for travel and accommodation and they didn’t change much.
It has taken about a month for the changeover to happen and my expenses were mounting all of the time. Originally I was told they would be asking to start my contract with them from the date I first started working, which seemed a bit odd but I assumed they knew what they were doing.
My contract change at the beginning of this week with a start date of the 6th but when I enquired about the £3000 worth of expenses I was waiting on I was told no you cannot claim them from us go back to your original agency!!!
When I asked how they could offset them against tax when they were no longer even paying me I was met with silence…Since then I have had many excuses and lame comments that it’s out of their hands. The basic reason they have given me is that I cannot claim for expenses before my contract started with them. Their original ‘aspiration’ of starting my contract retrospectively at a time when my original agency was paying me, now seems quite ridiculous. This seems to have been the only basis that I was ever going to be able to claim expenses from them which was a recklessly optimistic with my tax affairs as far as I can see.
There followed a long exchange of, frankly insulting emails were no interest, concern, remorse, or help was forth coming.
Hotel costs £100 so you add £100 to your bill for the client.
or
Hotel costs £100 so you offset £100 against your tax bill (saving between £20-£50 depending on tax rate).
Leave a comment:
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Originally posted by Bones View Post
The basic reason they have given me is that I cannot claim for expenses before my contract started with them.
If you're trying to claim them back in full then you need to deal with the agency you were employed by at the time of incurring them.
If you just want tax relief then list them all out and write to HMRC. Have a look on HM Revenue & Customs: Home Page first to see what you can actually claim.
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An umbrella company becomes your employer, not your accountant - you are paid through PAYE in the same way as any other employment and you may be entitled to claim certain costs as expenses whilst you are in that employment. As with any other employer, they would not be able to process expenses that were incurred in another employment.
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Originally posted by Bones View PostSince my question was more directly about accounting 'activities' I thought this a more appropriate place to ask. I have not posted much detail because it is a little long winded however I will add more back ground details shortly so you can assess where most of the blame lies.
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A little bit of background, after finishing uni as a mature student I started working on contract in mid June through the companies own agency who pay you PAYE but don’t deal with expenses etc so I was looking to either start a ltd company of go Umbrella (for the first time).
After a bit of contemplation I opted for umbrella for simplicity as the contract isn’t that long (6 months or so). Then I had to find a decent one so started to speaking to a few, settled on a well know company and signed up with. Received a call from one of the consultants and I explained my situation and why I was wanted to join them, mainly for expenses purposes. I asked about all of the expenses I had already incurred and was told that wouldn’t be a problem I could claim them against tax when my contract changed to them, which seemed reasonable. I gave details of typically how much they were a week for travel and accommodation and they didn’t change much.
It has taken about a month for the changeover to happen and my expenses were mounting all of the time. Originally I was told they would be asking to start my contract with them from the date I first started working, which seemed a bit odd but I assumed they knew what they were doing.
My contract change at the beginning of this week with a start date of the 6th but when I enquired about the £3000 worth of expenses I was waiting on I was told no you cannot claim them from us go back to your original agency!!!
When I asked how they could offset them against tax when they were no longer even paying me I was met with silence…Since then I have had many excuses and lame comments that it’s out of their hands. The basic reason they have given me is that I cannot claim for expenses before my contract started with them. Their original ‘aspiration’ of starting my contract retrospectively at a time when my original agency was paying me, now seems quite ridiculous. This seems to have been the only basis that I was ever going to be able to claim expenses from them which was a recklessly optimistic with my tax affairs as far as I can see.
There followed a long exchange of, frankly insulting emails were no interest, concern, remorse, or help was forth coming.
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Originally posted by Bones View PostAs an umbrella employee I dont fill in self assessments.
Having payed a umbrella company to take care of all accountancy and taxation matters, I should engage an accountant?
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Originally posted by Bones View PostAs an umbrella employee I dont fill in self assessments.
Having payed a umbrella company to take care of all accountancy and taxation matters, I should engage an accountant?
You'll need to give more information, in my experience the angrier the poster is the more likely it is to be their fault.
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Originally posted by Bones View PostAs an umbrella employee I dont fill in self assessments.
Having payed a umbrella company to take care of all accountancy and taxation matters, I should engage an accountant?
Then if you are still earning money this year and the expenses are from April onwards just get them against this / next months invoice,
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