Expenses

[ajayjain]

Can you please help me for my expenses

I am IT contractor, got ltd. company

I am showing my expense around £900/- per month
I spend all the money from my personal account and re-imburse from the company end of every month.
Mainly I claim Mileage becuase my client is 70 miles from my house, so 140 miles per day, 4 days a week.

Mileage £600
Phone £80 (based on my mobile+home landline bill)
Use of home £150/-
Lunch £3/- per day (around £50 PM)

Should I amend anything above or anything else I can add

Thanks

 

[weebly_one]

I saw a blog recently that you should not claim subsistence (lunch) unless you are away from home overnight. There is no reason if you are travelling from home everyday why you should not make sandwiches!

This goes against advice I had been given before and fits with ajayjain's query - so can anyone set me right?

Is it again a matter of opinion and depends what accountant you use what advice you get?

 

[GillespieBS]

If you are working at a temporary workplace you can claim travel and subsistence claims, however I tend to find that some IT contractors have been working at their temporary workplace for many years. Be very careful and as you are a contractor I advise you speak to an accountant as prices tend to be reasonable for contractors and freelancers.

 

[midnight_caller2002]

Hi, i run a small business and our accountant told us that claiming for meals away from the office could be claimed, in our case the work we do do is far enough away from the office(home address) that we claim sensible food and beverage.

I also know that public sector workers can in some depts claim £4.25 if they are away from base for over 5 hours, £9.30 for over 10 hours.
These amounts basically reflect £5 & £10 inc tax consequences.

check with HMRC on maximum amount of mileage claim without tax consequence too, think it still stands at 40p per mile.... not sure if you can claim additional 1p per mile for carriage of equipment?!?

Assume you are including broadband charges in your Phone?, What about trade magzines, do you regularly need to buy these from newsagents to keep abreast in the I world?

An hour or so with a good accountant might pay you and save you tonnes in the long run!