newly Self employed,what can I claim

[tridant]

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.

 

[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.

 

[tridant]

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.

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.

 

[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.

 

[Squid]

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?

 

[telectrix]

and don't forget the case of single malt at Xmas as a sweetener for your "employer" for giving you the work.

 

[Squid]

and don't forget the case of single malt at Xmas as a sweetener for your "employer" for giving you the work.

Ah and you are allowed to spend I think up to £120 for a Christmas meal.

 

[Squid]

Stamps, office sundry, printer

 

[telectrix]

accountant's fees, if you have one. insurance policies ( PL, PI etc.).

 

[tridant]

Thanks all you guys for your replies and great help!!

 

[Squid]

accountant's fees, if you have one. insurance policies ( PL, PI etc.).

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))))))

 

[Squid]

Thanks all you guys for your replies and great help!!

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.

 

[Adj]

Ah and you are allowed to spend I think up to £120 for a Christmas meal.

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)

 

[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.

 

[dmxtothemax]

What about claiming your holidays in the Bahama's ?
I hear your making 150K now !

 

[Deleted member 26818]

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.