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Discuss newly Self employed,what can I claim in the Electrical Forum area at ElectrciansForums.co.uk.

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  1. tridant
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    tridant EF Member

    Morning folks,I was self employed donkeys years ago and have just gone back self employed now,can you good people please tell me what I can claim back as I believe its all changed now.subbing myself out to an electrical contractor and invoicing him every week just deducting the 20%.thanks in agvance guys.
     
  2. telectrix
    Online

    telectrix Scouser and Proud of It Trusted Advisor

    Location:
    cheshire/staffordshire
    Business Name:
    Telectrix
    all tools, work clothing, inc. PPE.

    2 ways of claiming for your van/car....

    1. save all receipts for fuel, repairs, servicing, etc.

    2. log mileage each month and claim 45p/mile of business use to cover all vehicle costs.
     
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  3. tridant
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    tridant EF Member

    Thanks very much for that,using publc transport to beat traffic,can I claim back fares etc? Back in the day,you could claim heating and electricity costs for your home as you could use it as your office,has this been changed,do you know,thanks again for your reply.
     
  4. telectrix
    Online

    telectrix Scouser and Proud of It Trusted Advisor

    Location:
    cheshire/staffordshire
    Business Name:
    Telectrix
    as long as you use home as a base, you can claim fares ( i think, coz. last time i rode on a bus it had a horse pulling it). why not purchase a smallish motorbike, much cheaper and still beat traffic. you can claim part of your household bills against tax. don't forget phones.. landline and mobile. ... easiest option is use mobile solely for work related use and claim 100%, maybe 25% of landline.
     
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  5. SWD
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    SWD Gender neutral Electrician's Arms

    Location:
    London
    I claimed for a Christmas tree for a laugh as it was in my "office" at home and used 100% for business use.

    Speak to an accountant, tools, laptop/computer for business a % of the home internet PPE equipment, clothes just for work I also claimed for a bike to ride to the station, anything you can get away with to reduce your tax bill, are you self employed or LTD Co?
     
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  6. telectrix
    Online

    telectrix Scouser and Proud of It Trusted Advisor

    Location:
    cheshire/staffordshire
    Business Name:
    Telectrix
    and don't forget the case of single malt at Xmas as a sweetener for your "employer" for giving you the work. :D
     
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  7. SWD
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    SWD Gender neutral Electrician's Arms

    Location:
    London
    Ah and you are allowed to spend I think up to £120 for a Christmas meal.
     
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  8. SWD
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    SWD Gender neutral Electrician's Arms

    Location:
    London
    Stamps, office sundry, printer
     
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  9. telectrix
    Online

    telectrix Scouser and Proud of It Trusted Advisor

    Location:
    cheshire/staffordshire
    Business Name:
    Telectrix
    accountant's fees, if you have one. insurance policies ( PL, PI etc.).
     
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  10. tridant
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    tridant EF Member

    Thanks all you guys for your replies and great help!!
     
  11. SWD
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    SWD Gender neutral Electrician's Arms

    Location:
    London
    Hiscox rolling monthly used to be okay for liability ins, ah and lunch keep your receipts as I was LTD Co all I paid was Corp Tax and my earnings where I believe £650 pcm the rest was Directors Dividends ;o))))))
     
  12. SWD
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    SWD Gender neutral Electrician's Arms

    Location:
    London
    You get screwed over left right and centre when you are a hard working individual so just use the "system" to work for you, keep away from Nigerian accountants as they usually get arrested after a couple of years, mine was an ex HMRC tax investigator.
     
  13. Adj
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    Adj EF Member

    Location:
    Peterborough
    Only if you are a Ltd company - and even then it is frowned upon by HMRC if there are only a few staff.
    Make sure you get an accountant that already has sparkies on their books - saves a lot of silly explanations. Don't pay more than £1200 a year for one (that's what it costs me for an t/o of £130k)
     
  14. telectrix
    Online

    telectrix Scouser and Proud of It Trusted Advisor

    Location:
    cheshire/staffordshire
    Business Name:
    Telectrix
    and if your wife/partner is a stay - at -home , not in paid employment, she (he) would be your secretary/receptionist/book keeper /whatever; paid on the threshold of tax and NI.
     
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  15. dmxtothemax
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    dmxtothemax Regular EF Member

    Location:
    Australia
    Business Name:
    David Haddock Electronic Repairs
    What about claiming your holidays in the Bahama's ?
    I hear your making 150K now !
     
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  16. spinlondon
    Offline

    spinlondon Trusted Advisor

    Location:
    Harlow Essex
    I claim for:
    Travel:
    Bus fares, train fares, mileage 45p per mile (car), 24p per mile (motorbike), parking, congestion charge and toll fees.

    Subsistence:
    Away from home for less than 10 hours £5.
    Away from home for more than 10 hours £10.
    Earlier than normal start, add £5 for breakfast.
    Working later than normal, add £15 for evening meal.

    Mobile phone and accessories (bills, hands free kit for motorbike, charging cables, phone case, etc.)
    Computer and Internet. (ISP, Printer ink and paper, tablet/Laptop and accessories)
    Stationary (stamps, envelopes, etc.)
    Laundry (I claim weekly for a service wash at a local laundrymat).
    Tools.
    Exams and cards: (16/17th edition, JIB card, Pasma, IPAF, Asbestos awareness, etc.)
    Clothing:
    Boots, work trousers, T shirts, boot socks, jumpers, fleeces, Hi Vis jackets/vests, gloves, etc.
    Sun cream (if working outside).
    Garage/workshop rent for storing tools and materials.

    I also claim for my Passport, as this is required for working through Agencies.
     
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