Clean It Up
UK Window Cleaning Forum => Window Cleaning Forum => Topic started by: john63. on April 14, 2012, 09:10:34 am
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can you claim 45p mile for expenses seems ok it doesnt cost 45p to do a mile.
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http://www.hmrc.gov.uk/rates/travel.htm
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what i mean is it doesnt cost £45 to do 100 mile.
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If you claim mileage you cannot claim for costs such as tax, insurance, fuel, service.
Best thing to do is to record your mileage and keep all your reciepts .... work out which one means you can claim the most and go with that!
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If i do for example 1000 business miles so x by o.45 is £450 i put down £450 as expenses even though it may have only cost me say £200 for fuel.
tried phonig tax cant get through
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What about insurance, mots, repairs, tax and depreciation? Plus fuel that little lot will cost you a lot more than 45p a mile.
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Yeah cheers see what u mean first full year so just checking dont make enough at moment for accountant so thought would fill it in on my own this year.
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If i do for example 1000 business miles so x by o.45 is £450 i put down £450 as expenses even though it may have only cost me say £200 for fuel.
tried phonig tax cant get through
Yes, I think thats correct. You may not be able to claim anything else though eg repairs, the 45p a mile includes wera and tear. I am sure thats all inclusive.
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45 include all van costs amen and once you decide to go with the expense or the 45 p you cannot change.The 45 p is less complicated and made for the small businessman.
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Like others have said choose one system and stick with it ... I think there's a calculator on the AA site somewhere which shows that 45p is a bit low these days so I use t'other way.
Regards
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Our Eaton boys in our Government in Westminster has just given away 15 grand to the fat cats to cover the fuel in the Bentleys so they cannot increase the 45p any more but for our pleasure the will now charge us 3 p per litre more.Strangely enough most filling stations have gone up 5 p in my area. More to pay off our debt made by the fat cat bankers. I to could also be a Chancellor this way and call it fear.
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When you first start using your van, you have 2 chooses with regards to the taxman
1 Mileage rate
Its 45p per mile for the first 10000 miles then it drops down to 25p a mile.
You cannot claim any expenses incurred for running or buying of the van.
2 Expenses
You can claim any expense the van incurs, from the van cost, fuel, mot and road tax, down to a lightbulb.
Now which ever method you use, you cannot change over to the other method, whether its in this tax year or the next, you can only change if you replace the vechicle.
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Yeah cheers see what u mean first full year so just checking dont make enough at moment for accountant so thought would fill it in on my own this year.
False economy not using an accountant from the start. :)
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Yeah cheers see what u mean first full year so just checking dont make enough at moment for accountant so thought would fill it in on my own this year.
False economy not using an accountant from the start. :)
Nonsense!
You may well discover filing online is simple,window cleaning accounts are simple and never feel the need to pay an accountant.They are often totally unnecessary,most of them these days think they work for the taxman. Its another cost that can be avoided.
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agree dont take long to fill returns form in suppose accountant can save you a bit more money on expenses i dont know havnt got one are they worth it.
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You can always ask the tax office about anything your unsure of,never mention the saturday morning jobs though !