Originally posted by b r
View Post
- Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
- Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!
Reply to: Allowable expenses inside IR35
Collapse
You are not logged in or you do not have permission to access this page. This could be due to one of several reasons:
- You are not logged in. If you are already registered, fill in the form below to log in, or follow the "Sign Up" link to register a new account.
- You may not have sufficient privileges to access this page. Are you trying to edit someone else's post, access administrative features or some other privileged system?
- If you are trying to post, the administrator may have disabled your account, or it may be awaiting activation.
Logging in...
Previously on "Allowable expenses inside IR35"
Collapse
-
-
Originally posted by b r View PostCould the employee (the contractor) claim their mileage through their self-assessment, getting the tax back?
ie lets says it's a 20 mile round trip and you do it 200 times in a year - 20 miles * 45 ppm * 200 days = £1800
A bit like when a company pays less than the HMRC rate, you can claim the difference against tax.
HTH.
Leave a comment:
-
Could the employee (the contractor) claim their mileage through their self-assessment, getting the tax back?
ie lets says it's a 20 mile round trip and you do it 200 times in a year - 20 miles * 45 ppm * 200 days = £1800
A bit like when a company pays less than the HMRC rate, you can claim the difference against tax.
Leave a comment:
-
Originally posted by malvolio View PostBecause it costs them a lot more, and the OP wouldn't have got their rate or anywhere near it but would be stuck with the non-incremented scale rate for the post.
Leave a comment:
-
Originally posted by northernladuk View PostJust for clarity the link to the whole post is...
http://forums.contractoruk.com/publi...ml#post2394879
If it's near 2 years long why don't they use an FTC?
Leave a comment:
-
Just for clarity the link to the whole post is...
http://forums.contractoruk.com/publi...ml#post2394879
If it's near 2 years long why don't they use an FTC?
Leave a comment:
-
See here:
Originally posted by TheFaQQer View PostHow will this affect the money in my pocket?
What about my expenses?
That's the bad news. Apart from direct cost of materials used in performance of the services; and expenses that would have been deductible if the worker had been the client's employee, you can't claim any expenses from the company. The point has been made to Treasury and HMRC that if you have any other expenses for your company then you have no means to pay these, but there has not been any acknowledgement of this problem. If your company only does public sector work, but has to pay for mobile phones, internet, insurance, or anything else then I cannot see how the company can legally do this.
Leave a comment:
-
Allowable expenses inside IR35
I've recently taken up a contract role with a PSB and have been deemed inside IR35. It's a near two year contract and a good day rate so was worth taking (even being inside IR35). I understand that, due to being taxed at source, I won't be eligible for the 5% expenses if I was to set-up a PSC. In all I was very confused as to whether to set-up a PSC but could see no financial benefit (although I may have a few days of commercial work later in the year) so have gone through an Umbrella (initially).
Can I reclaim any expenses if I continue to get paid through the umbrella when completing my self-assessment at financial year-end? I understand I can get tax relief on pension contributions buy when I challenged HMRC on the issue of professional development & memberships and they wouldn't give me an answer (surprise!).
All help welcome!
Thanks.
- Home
- News & Features
- First Timers
- IR35 / S660 / BN66
- Employee Benefit Trusts
- Agency Workers Regulations
- MSC Legislation
- Limited Companies
- Dividends
- Umbrella Company
- VAT / Flat Rate VAT
- Job News & Guides
- Money News & Guides
- Guide to Contracts
- Successful Contracting
- Contracting Overseas
- Contractor Calculators
- MVL
- Contractor Expenses
Advertisers
Contractor Services
CUK News
- Streamline Your Retirement with iSIPP: A Solution for Contractor Pensions Sep 1 09:13
- Making the most of pension lump sums: overview for contractors Sep 1 08:36
- Umbrella company tribunal cases are opening up; are your wages subject to unlawful deductions, too? Aug 31 08:38
- Contractors, relabelling 'labour' as 'services' to appear 'fully contracted out' won't dupe IR35 inspectors Aug 31 08:30
- How often does HMRC check tax returns? Aug 30 08:27
- Work-life balance as an IT contractor: 5 top tips from a tech recruiter Aug 30 08:20
- Autumn Statement 2023 tipped to prioritise mental health, in a boost for UK workplaces Aug 29 08:33
- Final reminder for contractors to respond to the umbrella consultation (closing today) Aug 29 08:09
- Top 5 most in demand cyber security contract roles Aug 25 08:38
- Changes to the right to request flexible working are incoming, but how will contractors be affected? Aug 24 08:25
Leave a comment: