Go Back   RetouchPRO > Business > Legal Issues
Register Blogs FAQ Site Nav Search Today's Posts Mark Forums Read

Legal Issues Copyright, releases, likeness rights, licenses, etc.
NOT a replacement for professional council

Expenses, Deductions, Sole Trader Or LTD? (UK)

Thread Tools
Old 02-06-2011, 03:48 AM
pixeljar pixeljar is offline
Junior Member
Join Date: Feb 2010
Location: London
Posts: 19
Re: Expenses, Deductions, Sole Trader Or LTD? (UK)

I prefer to remain self-employed unless the business gets very profitable.
I keep all receipts except the ones for the petrol, but I make notes how many miles I have travelled based on the client's post code-hope it is enough. I also print my oyster card reports if I use public transport. It's all recorded in Excel, which makes things easier for calculations. I was also wondering if you deduct lunch expenses at all when working all day outside your office?

Thank you all!!
Reply With Quote top
Old 02-06-2011, 08:34 AM
Repairman's Avatar
Repairman Repairman is offline
Senior Member
Join Date: Dec 2010
Location: Bristol UK
Posts: 666
Re: Expenses, Deductions, Sole Trader Or LTD? (UK)

Allow at least 45p per mile as you have to consider 'wear and tear' on your car. If you're working in the 3 cities you've indicated I would claim the travel also. If the lunches are taken in an area away from your base then I would claim those as well. Basically, claim for stuff and HMRC will refute it if necessary. I have every receipt for the last 14 years - I've never been asked to present any of them for checking but that doesn't mean they won't ever want to see them! Another reason to use an accountant is that they know how to present your accounts to HMRC in a professional manner.
Reply With Quote top

  RetouchPRO > Business > Legal Issues

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is Off
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

All times are GMT -6. The time now is 05:18 AM.

Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2016, Jelsoft Enterprises Ltd.
SEO by vBSEO ©2011, Crawlability, Inc.
Copyright © 2016 Doug Nelson. All Rights Reserved