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#1 Wednesday 12th October 2011 22:55:28

digitalsakurauk
Member
Registered: Friday 4th August 2006
Posts: 20

what expenses is allowable ?

i dont have to say

petrol
stationary
phone bill
car maintenance
road tax
advertising
insurance
car
parking

are the ones that we all use, i just like to know what other things i can use as expense.

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Wednesday 12th October 2011 22:55:28

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Re: what expenses is allowable ?



#2 Wednesday 12th October 2011 23:03:44

on board training
Guest

Re: what expenses is allowable ?

Hi,

Quite literally anything you can justify for your business.

It can be almost endless as long as it is valid for what you do.

Laptop a must
Subscriptions to most things
CPD
clothing with logos
odd meal out with potential clients or ADIs
sat nav
WINTER TYRES

etc

Brian

#3 Thursday 13th October 2011 14:08:53

sue martin
Verified Member
From: National area franchises
Registered: Friday 21st January 2005
Posts: 333
Website

Re: what expenses is allowable ?

Hi,
Best resource is the HMRC themselves, you can claim whatever you want but ultimately its whether the HMRC agree with an expense that proves the validity of it for YOU . they publish their Business Expense Manuals online for you to look up whether something is allowable to you
Look at http://www.hmrc.gov.uk/manuals/bimmanual/index.htm for a list of the main manuals BIM 4000 section covers deductions
Sue


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#4 Thursday 13th October 2011 16:54:55

digitalsakurauk
Member
Registered: Friday 4th August 2006
Posts: 20

Re: what expenses is allowable ?

i know this is a stupid question but do i have to send in any evidences to back up the expenses that i claim along with the tax return? because how would HMRC know what you are claiming if only you put down the total expense?

first time doing it so i dont know.


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#5 Thursday 13th October 2011 16:59:26

driverpete
Verified Member
From: Nottingham
Registered: Monday 6th February 2006
Posts: 457

Re: what expenses is allowable ?

You don't need to send anything in but you MUST retain the evidence (I think for 6 years) in case they query it. They can (and do) do spot checks on individual claims.


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#6 Thursday 13th October 2011 17:14:27

Roadmaster
Verified Member
Registered: Thursday 4th March 2004
Posts: 5,672

Re: what expenses is allowable ?

You don't need receipts for everything.  Car was/cleaning for example, is an expense which doesn't require receipts

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#7 Friday 14th October 2011 15:15:24

sue martin
Verified Member
From: National area franchises
Registered: Friday 21st January 2005
Posts: 333
Website

Re: what expenses is allowable ?

You don't need receipts for everything.  Car was/cleaning for example, is an expense which doesn't require receipts

Altho you often cannot get a receipt for things like car washes the HMRC recommends self receipting, ie completing a cash receipt for the item so you still have it recorded where/when etc.


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#8 Wednesday 2nd November 2011 18:13:52

RobC
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From: Nr Ormskirk Lancs
Registered: Wednesday 28th January 2009
Posts: 765
Website

Re: what expenses is allowable ?

If you need glasses to read a numberplate at 27.5 metres (rather than the standard 20 metres) then they are an allowable expense.


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#9 Wednesday 2nd November 2011 18:43:45

martin Williams
Verified Member
Registered: Friday 26th June 2009
Posts: 1,144

Re: what expenses is allowable ?

I filled up with fuel today using an automated payment pump.

It failed to give me a receipt as it had jammed. sad

If i just produce the debit on my bank statment will the taxman be happy with that?  :?

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#10 Wednesday 2nd November 2011 18:45:51

MAZ
Verified Member
From: N/Wales, Cheshire
Registered: Tuesday 13th June 2006
Posts: 838

Re: what expenses is allowable ?

ipad
iphone
vacuum cleaner
vac bags
power washer
printer



Maz.

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#11 Wednesday 2nd November 2011 19:14:00

sue martin
Verified Member
From: National area franchises
Registered: Friday 21st January 2005
Posts: 333
Website

Re: what expenses is allowable ?

I filled up with fuel today using an automated payment pump.

It failed to give me a receipt as it had jammed. sad

If i just produce the debit on my bank statment will the taxman be happy with that?  :?

I have always been advised to make a note of the date/amount and what happened and attach to a photocopy of the debit and the tax man should be happy, these things do happen however if you don't make a note at the time 5 years or whatever down the line when the tax man visits and wants the receipt you will probably not remember why you haven't got one!


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#12 Wednesday 2nd November 2011 19:22:05

martin Williams
Verified Member
Registered: Friday 26th June 2009
Posts: 1,144

Re: what expenses is allowable ?

Thank you Sue

How often are you likely to get a visit from the tax man?

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#13 Wednesday 2nd November 2011 19:37:38

sue martin
Verified Member
From: National area franchises
Registered: Friday 21st January 2005
Posts: 333
Website

Re: what expenses is allowable ?

Thank you Sue

How often are you likely to get a visit from the tax man?

Thats a million dollar question, you may never get a visit, you may get one tomorrow, the I.R. have algorithm's to determine when they will visit some companies but the rest are "spot check's " if they feel a tax return is outside expected figures ie your claimed net earnings are lower than they feel likely they are more likely to visit, at that point they will pick out random figures and ask for them to be proved and justified, if you can't or they are not happy it gets worse! , only had one inspection from the I.R. and one from the VAT man , not pleasant even when everything is ok and very time consuming so keep everything documented and provable, this is the point when a claim for something they do not agree is allowable or at a percentage they do not agree with, means a claim to repay all the tax relating to that item claimed for the period it has been claimed...........


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#14 Wednesday 2nd November 2011 22:20:41

hoylake
Verified Member
From: Heysham
Registered: Friday 21st September 2007
Posts: 1,435
Website

Re: what expenses is allowable ?

My accountant claims for;

"use of home as office"

PA55 number plate claimable too.



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#15 Tuesday 8th November 2011 10:45:45

kaf
Verified Member
From: Wiltshire
Registered: Sunday 5th August 2007
Posts: 3,330
Website

Re: what expenses is allowable ?

Thank you Sue

How often are you likely to get a visit from the tax man?

You only need one !........................and they do happen!

Each year they decide on which types of business they are going to be looking at during the coming year.

It might be builders, plumbers,.....................or ADI's !

In which case a sample will be selected for audit.......................it could be you.

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#16 Saturday 12th November 2011 20:48:06

Rockin
Verified Member
From: Thornton Heath
Registered: Wednesday 6th September 2006
Posts: 200

Re: what expenses is allowable ?

Why dont you just get an accountant. He will be able to tell you what you can and cannot claim for, He will fill out your forms send them in and tell you what you have to pay. SIMPLE

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#17 Saturday 12th November 2011 21:10:51

sue martin
Verified Member
From: National area franchises
Registered: Friday 21st January 2005
Posts: 333
Website

Re: what expenses is allowable ?

I agree some people may choose to use an accountant however most accountants are based on what YOU choose to claim for and if it comes to an inspection bare in mind it is still YOU that has to prove if a claim is valid or not ... Just some info


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#18 Sunday 13th November 2011 00:23:47

c-way
Verified Member
From: Peterborough
Registered: Tuesday 3rd October 2006
Posts: 1,170
Website

Re: what expenses is allowable ?

claim for what is reasonable, i claim for all IT equipment - laptops, Ipads ,mobile phone bills, Printers, cleaning - cars, office, uniform, clothing with our logo attached, all fluids for cars, all servicing for cars and trailers, customer training days - for buffet, soft drinks, rent for reversing area, anything connected to the business.


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#19 Monday 14th November 2011 22:13:35

hazelshone
Member
Registered: Friday 11th November 2011
Posts: 6

Re: what expenses is allowable ?

generally all associated costs to do with a business is acceptable try to get official receipts and you can get the vat back on fuel too.remember that if you use your premises too even for things like your tax returns etc most run april 1 st to march the next you can get forms for this you can do your tax returns on line and I tend to keep all my reciepts in n envelope for each month dated and then stored in an appropriate year box. it makes finding things so much more logical. remember phone contracts and try get a business insurance for your phone after all it is now you bread and butter so if it gets broken or lost you will get a replacement. servicing maintenance insurance parking permits should you require them. you will probably be able to claim about 20percent of gas electric etc too double check but if i recal correctly it is that.where are you in the country as if you are in birmingham there is a really good business centre could give you the details it offers free courses and advice and again any job centre might help too ? mayb places like c.a.b most cities tend to have a business centre I would have thought try google. if you can not get a reciept get your self a book for that purpose .

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#20 Tuesday 15th November 2011 16:58:28

RedAlan
Member
From: wandsworth
Registered: Monday 14th November 2011
Posts: 5
Website

Re: what expenses is allowable ?

Bit cheeky I know but would a parking penalty be tax deductible?

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#21 Tuesday 15th November 2011 17:46:55

smithwold
Verified Member
From: Berkshire
Registered: Saturday 18th August 2007
Posts: 716
Website

Re: what expenses is allowable ?

Bit cheeky I know but would a parking penalty be tax deductible?

Strictly speaking no. It's considered a personal expense rather than a business expense!







...or you could shove it in under advertising costs as your car was there displaying your business!  big_smile

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#22 Saturday 30th June 2012 11:54:46

www.1waydriving.net
Member
From: Wakefield
Registered: Friday 29th June 2012
Posts: 31
Website

Re: what expenses is allowable ?

Thanks for this, this post has answered at least 5 questions i was going to pay an Accountant for.

Last edited by www.1waydriving.net (Saturday 30th June 2012 11:55:13)


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#23 Saturday 7th July 2012 15:55:41

VandADI
Administrator
From: Coulsdon, Surrey
Registered: Sunday 29th February 2004
Posts: 7,603

Re: what expenses is allowable ?

Is the fee for renewal of a photo driving licence an allowable expense?

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#24 Saturday 7th July 2012 22:53:35

sue martin
Verified Member
From: National area franchises
Registered: Friday 21st January 2005
Posts: 333
Website

Re: what expenses is allowable ?

VandADI wrote:

Is the fee for renewal of a photo driving licence an allowable expense?

Only if you could prove you would not have a licence if you were not an instructor!... in other words no...


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#25 Sunday 8th July 2012 19:22:59

graham121150
Verified Member
From: Long Eaton
Registered: Monday 29th August 2011
Posts: 648
Website

Re: what expenses is allowable ?

I think if you were happy to stand up in court. and defend what you have put. Then yes claim for it.


Graham

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