Advice needed re parking fees

[simes]

What are you on about?

My point to OP is that travel expenses aren’t claimable. Parking fees are travel expenses.

Worry not about comprehension of GoT's posts. His are second only to NLUK's posts in his perpetual rush to blurt out something random.

MDavies, you don't 'receive' or 'allocate' expenses if via an umbrella. I 'believe' you may still get 5% set aside to cover everything. Even if that in reality covers nothing. And that 5% is calculated and received as part of your net 'salary'.

Correct me if wrong.

[Old Greg]

What are you on about?

My point to OP is that travel expenses aren’t claimable. Parking fees are travel expenses.

I thought that parking provided by employers isn't a BIK.

[GhostofTarbera]

Worry not about comprehension of GoT's posts. His are second only to NLUK's posts in his perpetual rush to blurt out something random.

MDavies, you don't 'receive' or 'allocate' expenses if via an umbrella. I 'believe' you may still get 5% set aside to cover everything. Even if that in reality covers nothing. And that 5% is calculated and received as part of your net 'salary'.

Correct me if wrong.

How do you get this 5% from net pay ?

Idiot


Sent from my iPhone using Contractor UK Forum

[simes]

How do you get this 5% from net pay ?

Idiot

Your evident charm aside, I believe I am right in saying, you are afforded 5% expenses from the gross pay before net pay is calculated.

The 5% is a token gesture towards any and all expenses, irrespective of what expenses are Actually incurred.

I am not through a brolly so perhaps my understanding is dated.

Anyway, looks like there is another 'contributor' to add to the Ignore list...

[Amanensia]

Do you get the 5% if operating via an Umbrella? I was under the impression that that only applied to LtdCos operating inside IR35, and even then it was removed for Public Sector engagements a couple of years ago (so will presumably be removed for everyone in April.)

[GhostofTarbera]

Your evident charm aside, I believe I am right in saying, you are afforded 5% expenses from the gross pay before net pay is calculated.

The 5% is a token gesture towards any and all expenses, irrespective of what expenses are Actually incurred.

I am not through a brolly so perhaps my understanding is dated.

Anyway, looks like there is another 'contributor' to add to the Ignore list...

But you are wrong, your advice is wrong, you don’t know what you are talking about - sorry for calling you an idiot

When via a Brolly you get everything PAYE hence you can’t take any expenses or this magic 5%


Sent from my iPhone using Contractor UK Forum

[GhostofTarbera]

Do you get the 5% if operating via an Umbrella? I was under the impression that that only applied to LtdCos operating inside IR35, and even then it was removed for Public Sector engagements a couple of years ago (so will presumably be removed for everyone in April.)

This is correct


Sent from my iPhone using Contractor UK Forum

[simes]

Anyway, subsequent to GoT being added to the Ignore list, and subsequent to some digging.

1. If via a Brolly and Outside IR35, 5% rings true
2. If via a Brolly and Inside IR35, there are no Expenses allowable, 5% or otherwise.

Pertinent to the initial post, MDavies does not tell us whether his contract is inside or outside.

Can IR35 contractors still work through a limited company? | Crunch

HMRC recognises you incur expenses in running your limited company and therefore allows you to calculate the employment tax you owe based on 95% of the amount your company receives from your contracts which are inside IR35.

However, you need to be aware that the allowance does not apply to any contracts deemed to be inside IR35 by your public sector clients. Additionally, the government is proposing extending these rules to the private sector from April 2020 – so you don’t have long to take advantage of this tax allowance.

Perhaps we will hear back from Mark...

[Amanensia]

1. If via a Brolly and Outside IR35, 5% rings true

If via a brolly "outside IR35" is utterly meaningless.

[simes]

If via a brolly "outside IR35" is utterly meaningless.

I don't disagree. But people do it. Hence the response to cover both options.