Full of silly questions at the moment as I'm pretty green to this process.
Basically I'm taking up a contracting role soon and am not sure what is "acceptable for claiming" under expenses.
I've read the Contractor Expenses guide on the right for those about to reign down upon me an ungodly firestorm
Mileage allowance for example, I've worked out I'll be doing approx 10,000 miles for the 6 months.
@ 45p per mile that's like £4500 which to me seems excessive, is this something that's going to flag to HMRC or is this acceptable?
Here comes the daft part, this is just about the taxation. I bill my expense to the company and at the end of the term that is deducted as an expense and not used in the calculations for the amount of corporate tax owed? Luckily I've employed an accountant to help me with this info but I'm just curious.
Thanks
Z
Basically I'm taking up a contracting role soon and am not sure what is "acceptable for claiming" under expenses.
I've read the Contractor Expenses guide on the right for those about to reign down upon me an ungodly firestorm
Mileage allowance for example, I've worked out I'll be doing approx 10,000 miles for the 6 months.
@ 45p per mile that's like £4500 which to me seems excessive, is this something that's going to flag to HMRC or is this acceptable?
Here comes the daft part, this is just about the taxation. I bill my expense to the company and at the end of the term that is deducted as an expense and not used in the calculations for the amount of corporate tax owed? Luckily I've employed an accountant to help me with this info but I'm just curious.
Thanks
Z
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