what can be tax deductable... - Page 3 - TilersForums.co.uk | Tile Forums

**grumpygrouter** · 28-12-2007

Quote:

Originally Posted by webby

Don't put your Mrs.down as employed.Put her down as a partner.Your accountant should then work the tax due proportionately between you.That doesn't mean equal tax but it will work out cheaper overall.My accountants bill is about £450 per annum.

Husband and wife partnerships will have equal tax liability unless a "partnership agreement" is legally drawn up specifying the partnership split (potential cost involved here). The wife will also need to be registered as self employed and pay Class 2 NI contributions also.

Should the marriage have problems and results in a split, all sorts of legal problems can arise and because of this it is STRONGLY advised that a proper agreement is drawn up by a solicitor before the trading is commenced.

Grumpy

wayne · 28-12-2007

grumpy if i get a van on contract hire can it all be claimed back for tax purposes.

**grumpygrouter** · 28-12-2007

Quote:

Originally Posted by wayne

grumpy if i get a van on contract hire can it all be claimed back for tax purposes.

Yes Wayne mate, contract hire is fully tax deductable as it is fully offset against income, unlike Hire purchase or lease purchase which is charged as a fixed asset on the balance sheet. An "operational lease" works along the same lines as contract hire for accounting purposes.

Grumpy

**Dave** · 28-12-2007

Wot would we do without our grumps......

wayne · 28-12-2007

only asking as missus works nights and i have 2 little kids and can only fit one in my combo. need a van with a double seat at the front so im looking at a vivaro or a citroen dispatch

Sean Kelly · 29-06-2008

Grumpy, back in November you wrote 'transport excluding any home-to-work costs - see also DMG35009 if a vehicle is used partly for private purposes'. This has confused me, as I now do site work. I have to travel (by car) from my home to the site. This is 52 miles a day (round trip). Incidently, this travel is through London and takes me on average 3.5 hours a day! My question is, can I claim the 40p x 52 miles allowance? Also, am I allowed to claim the cost of lunch. Thanks Sean

**grumpygrouter** · 29-06-2008

Quote:

Originally Posted by Sean Kelly

Grumpy, back in November you wrote 'transport excluding any home-to-work costs - see also DMG35009 if a vehicle is used partly for private purposes'. This has confused me, as I now do site work. I have to travel (by car) from my home to the site. This is 52 miles a day (round trip). Incidently, this travel is through London and takes me on average 3.5 hours a day! My question is, can I claim the 40p x 52 miles allowance? Also, am I allowed to claim the cost of lunch. Thanks Sean

Hi Sean, the question you are asking depends if you operate form your home or you have dedicated premises to work out of. If you operate from home like I do then you can claim mileage from the moment you leave the door. If however, you work from separate premises you would only be able to claim mileage from your premises to the site and back. Travel from your home to the premises is not tax deductable.

With regard to claiming for your lunch, this is a bit of a grey area. If you are away from "your normal place of work" and on business and usually includes an overnight stay then you would normally be able to claim back the cost. However, the tax man normally expects you to provide your own meals on a normal day to day basis.

You can get guidance from your local tax office if you wish and maybe try to negotiate an allowance acceptable to them. It can be done sometimes.

**whitebeam** · 29-06-2008

I let my accountant sort it for me, Can't be hassled dealing with the revenue

Droopy · 29-06-2008

Quote:

Originally Posted by whitebeam

I let my accountant sort it for me, Can't be hassled dealing with the revenue

Jeebus, you should see that hassle I have in dealing with my accountant

The man is a Fud, a pure and simple Fud.

**grumpygrouter** · 29-06-2008

Quote:

Originally Posted by Drew Peacock

Jeebus, you should see that hassle I have in dealing with my accountant

The man is a Fud, a pure and simple Fud.

give me a call Drew.........

bigneil · 29-06-2008

The Guys here Have said all that needs to be said, but i'd like to add my tuppence anyway. I started off promising myself that i would write everything down and keep a propper book. for the first four years i ended up with a tesco bag full of counterfoil invoices and dog eared, coffee stained reciepts. that had to be gone through piece by piece, written down and added up at the end of the tax year.AAAARRRGGGHHH!...
but last year i made myself a simple spraed sheet template on the computer using an old version of EXCEL (very very basic, as i'm no computer techie) It just covers one month at a time, but all i do is type in one column all my income and in another all my outgoings, and it automatically totals them up then works out the difference. I fill it out, as i go along through out the year, and on the last one, i have exta collumns for other expenses like van mileage and advertising.

29-06-2008

having been investigated twice by the tax Gestapo
(they found nowt btw )
i claim for the snot out of my nose