Reply to: Am i costing myself money

[ASB]

That's The Ritz isn't it?

Yeah, you're right. Merde.

[malvolio]

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.

Really? For a routine journey to your normal work location not involving an overnight stay (or, at least a very long day)?

[GlenW]

The downside is the courtesy car service is run by a pisshead in a very ropey old merc.

That's The Ritz isn't it?

[ASB]

If 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

The downside is the courtesy car service is run by a pisshead in a very ropey old merc.

[CloudWalker]

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

[LisaContractorUmbrella]

Is there any problem getting them to invoice you directly? After all aren't umbrella's supposed to make things easier.

We certainly are here to make things easier but I'm afraid I do draw the line at financing luxury business trips

[eek]

If 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

Is there any problem getting them to invoice you directly? After all aren't umbrella's supposed to make things easier.

[GazCol]

Where can I get one of these bank accounts that gives me imaginary money to fund lavish expenses and reduce my tax burden?

[LisaContractorUmbrella]

Bloody show off

[northernladuk]

If 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

Bloody show off

[LisaContractorUmbrella]

That'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?

If 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

[northernladuk]

Should i be actually be getting the most expensive ticket therefore giving myself largest expenses and better Tax Relief.

That'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?

[LisaContractorUmbrella]

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

[Wanderer]

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.

[Contreras]

Previous 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

Think of it as you are getting a percentage discount on every rail ticket. First class ticket will still cost more than standard class but only you can decide if it's worth it.

It's kind of answered here already:
http://forums.contractoruk.com/busin...ml#post1956981