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travel expenses question from a newbie

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    travel expenses question from a newbie

    I am brand new to contracting and have just started on a 12 month contract with a company (company A) through an agency (company B). Payment is to be made from the agency to my newley setup limited company (company C).

    My question is to do with travelling expenses which have turned out to be significantly more than I estimated. I travel every day to and from company A to work onsite, incurring fuel costs of about £90 per week traveling about 850 miles.

    My question is can I legitimately remberse myself for this expense, and if so should I do so by way of the fuel costs or mileage driven (in my own vehicle)?

    Any guidance on this would be very much appreciated.

    matt the newbie

    #2
    Originally posted by matt the newbie View Post
    I am brand new to contracting and have just started on a 12 month contract with a company (company A) through an agency (company B). Payment is to be made from the agency to my newley setup limited company (company C).

    My question is to do with travelling expenses which have turned out to be significantly more than I estimated. I travel every day to and from company A to work onsite, incurring fuel costs of about £90 per week traveling about 850 miles.

    My question is can I legitimately remberse myself for this expense, and if so should I do so by way of the fuel costs or mileage driven (in my own vehicle)?

    Any guidance on this would be very much appreciated.

    matt the newbie
    Not a very good sockie, are we?
    I couldn't give two fornicators! Yes, really!

    Comment


      #3
      Did you sign your name or just put a cross on the contract?
      'CUK forum personality of 2011 - Winner - Yes really!!!!

      Comment


        #4
        There is no proof that this poster is a sockie. Either answer his question or don't reply.

        To the OP.
        You'll find a lot of answers to your questions within the CUK website.

        On the right you'll find CUK Navigation. >>>>>>>>>

        Look down and you'll come to the First Timers section. Have a read through there.

        Basic expenses questions answered here: Contractor Expenses - How to claim Travel and other expenses via Limited Company or Umbrella

        Then pay particular attention to IR35.

        If you go into the Accounting/Legal forum you'll discover the thread Basic advice when running your own contractor business.

        Guide to Contracts also has some good articles.

        Do you want advice on the state of the contract market for your specialism/location? Have a look at this website; it will answer most if not all of your questions: IT Jobs Watch, Tracking the IT Job Market


        And finally - accountant recommendations

        Happy reading!
        "I can put any old tat in my sig, put quotes around it and attribute to someone of whom I've heard, to make it sound true."
        - Voltaire/Benjamin Franklin/Anne Frank...

        Comment


          #5
          Originally posted by matt the newbie View Post
          I am brand new to contracting and have just started on a 12 month contract with a company (company A) through an agency (company B). Payment is to be made from the agency to my newley setup limited company (company C).

          My question is to do with travelling expenses which have turned out to be significantly more than I estimated. I travel every day to and from company A to work onsite, incurring fuel costs of about £90 per week traveling about 850 miles.

          My question is can I legitimately remberse myself for this expense, and if so should I do so by way of the fuel costs or mileage driven (in my own vehicle)?

          Any guidance on this would be very much appreciated.

          matt the newbie
          The short answer is that you should reimburse yourself at 45p per mile for the first 10,000 miles, then 25p per mile.

          https://www.gov.uk/expenses-and-bene.../rules-for-tax

          Your accountant should be providing advice on expenses.

          Comment

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