Originally posted by GlenW
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Reply to: Am i costing myself money
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Previously on "Am i costing myself money"
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Originally posted by Wanderer View PostMake sure you also claim for the flat rate meal allowance of £5/£10/£15 if you are travelling on business and you have incurred an expense for food (however small the expense was) because this reduces your tax too.
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Originally posted by LisaContractorUmbrella View PostIf you're going to do it properly you get a suite at the George Cinq and then get flown to the gig each day by private helicopter
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Travelling 1st class isn't always best
Robbery in first class train thief threatens businessman and escapes with laptop and cash - News - London Evening Standard
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Originally posted by eek View PostIs there any problem getting them to invoice you directly? After all aren't umbrella's supposed to make things easier.
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Originally posted by LisaContractorUmbrella View PostIf you're going to do it properly you get a suite at the George Cinq and then get flown to the gig each day by private helicopterLast edited by eek; 15 July 2014, 16:13.
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Where can I get one of these bank accounts that gives me imaginary money to fund lavish expenses and reduce my tax burden?
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Originally posted by LisaContractorUmbrella View PostIf you're going to do it properly you get a suite at the George Cinq and then get flown to the gig each day by private helicopter
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Originally posted by northernladuk View PostThat's a classic!!
I would hate to see your LTD's books if that's your understanding. Hope you haven't been booking rooms at the Dorchester as well!!
This isn't a journey you have been doing for over 2 years is it?
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Should i be actually be getting the most expensive ticket therefore giving myself largest expenses and better Tax Relief.
I would hate to see your LTD's books if that's your understanding. Hope you haven't been booking rooms at the Dorchester as well!!
This isn't a journey you have been doing for over 2 years is it?
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You should also bear in mind that, if you are using an umbrella company 'temporarily' and it will only be for a single assignment you will have no entitlement to tax relief on travel costs anyway
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Make sure you also claim for the flat rate meal allowance of £5/£10/£15 if you are travelling on business and you have incurred an expense for food (however small the expense was) because this reduces your tax too.
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Originally posted by ContractorUK99 View PostPrevious have been through a Limited Company but am temporarily using an Umbrella
I currently travel from London to North by Train weekly and stay away.
I have been travelling standard class and been using discount websites to get train tickets as cheap as possible.
However i am not sure what happens in regards to Tax am i actually costing myself money here?
Should i be actually be getting the most expensive ticket therefore giving myself largest expenses and better Tax Relief.
I thought that at the end of the day i would receive relief on the expenses but it wouldnt affect my take-home pay. It would just be claimed back out of the same pot and therefore if i spent more it would come out of my money once all calculated?
Thanks
It's kind of answered here already:
http://forums.contractoruk.com/busin...ml#post1956981
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