Monthly train ticket

[SueEllen]

100% expensed to the company.

Quite a few rail tickets work out cheaper if you pay for them monthly rather than daily especially if you are going into a city. Even if it doesn't because lots do the taxman is hardly going to find the exact price of the route you take to ClientCo as it's not that easy to find the price for all routes thanks to the multiple number of tickets the privatised train companies have.

[r0bly0ns]

Yep, did that in to Manchester a couple of years ago, monthly train ticket expensed 100% to the company.

[threaded]

Chef's just unsure (and who the hell wouldn't be) because of our over simplified system of taxation. Doing what you think is logical isn't always how the taxman does things.

Remember... tax doesn't have to be taxing.

Yes, one of the more relaxing things about business life in Denmark is that the tax rules are all written down.

Which is nice.

[miffy]

Why would you not claim 100% of your business expense?

Chef's just unsure (and who the hell wouldn't be) because of our over simplified system of taxation. Doing what you think is logical isn't always how the taxman does things.

Remember... tax doesn't have to be taxing.

[VectraMan]

Why would you not claim 100% of your business expense?

[miffy]

Well if it helps confirm this, my last contract was in central london and I was using monthly train tickets, I claimed the whole ticket (and the oyster). The account said it was fine.

I like turions answer though!

Edit: 110 miles is a long way though. Driving there and back each day sounds like my old permie job. I'd be a physical wreck doing that 5 days a week now. First class ticket, iPod, PSP and a book is a much better option.

[threaded]

yep



that's what i was planning and thought, Thanks Turion, less than 5 posts and an actual sensible answer..

AtW or Threaded obviously haven't woken up yet

I'm here, and was going to say that when in the UK the accountants claim 100% on train tickets, so travel 1st class and get your coffee and biscuits thrown in.

[chef]

It's a legit business expense right?

yep

So charge the whole ticket to the Co. Alternatively pay the ticket yourself, and charge the car mileage in lieu. Depends on what works out most profitable.

that's what i was planning and thought, Thanks Turion, less than 5 posts and an actual sensible answer..

AtW or Threaded obviously haven't woken up yet

[Turion]

It's a legit business expense right? So charge the whole ticket to the Co. Alternatively pay the ticket yourself, and charge the car mileage in lieu. Depends on what works out most profitable.

[chef]

why not cycle to work?

it's 110 miles away and my calf muscles arent that well trained

[BrilloPad]

maybe the wrong forum but more likely to get a quicker answer plus as usual the standard sarky/obvious comments..

up until now ive always driven to the clients site, they are soon moving to city central location meaning very high parking prices rather than the usual free client car park.. as the site is 2 mins walk from the station i was considering commuting via public train (shudder), i know if i buy daily tickets i can claim all as a business expense, however, to save time queuing with the great unwashed i was considering getting a monthly rail ticket..

however, the question i have is "should i purchase 100% of the train ticket value as a business expense or should i claim 5/7 of it even though i will only use it to travel to/from work and never for personal use?"

yes ive had a quick search on the forums and cant find an answer, im sure it has been answered previously though..

yes i know as a contractor i should just hire a chauffeur and get dropped off and picked up
or
pay the central city parking price and drive
or
invest in a threaded style helicpoter and park it on the roof
or
ask my accountant as thats what i pay them for

but i was just looking at other alternatives and thought id ask the question and am interested to see what others do

thanks in advance

Chef

why not cycle to work?

[chef]

maybe the wrong forum but more likely to get a quicker answer plus as usual the standard sarky/obvious comments..

up until now ive always driven to the clients site, they are soon moving to city central location meaning very high parking prices rather than the usual free client car park.. as the site is 2 mins walk from the station i was considering commuting via public train (shudder), i know if i buy daily tickets i can claim all as a business expense, however, to save time queuing with the great unwashed i was considering getting a monthly rail ticket..

however, the question i have is "should i purchase 100% of the train ticket value as a business expense or should i claim 5/7 of it even though i will only use it to travel to/from work and never for personal use?"

yes ive had a quick search on the forums and cant find an answer, im sure it has been answered previously though..

yes i know as a contractor i should just hire a chauffeur and get dropped off and picked up
or
pay the central city parking price and drive
or
invest in a threaded style helicpoter and park it on the roof
or
ask my accountant as thats what i pay them for

but i was just looking at other alternatives and thought id ask the question and am interested to see what others do

thanks in advance

Chef