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Giant now need petrol and food receipts :(

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    Giant now need petrol and food receipts :(

    Had a email from Giant that petrol and food/drink receipts are needed from 1st Jan 2007.

    hmm, it seems Giant accountants want £10 in petrol receipts per 100 miles travelled and all food/drink receipts.

    comments/suggestions on what to do now ?

    Colin

    #2
    This is due to IR changes, now all need to submit petrol receipts cuz IR may ask for them

    Comment


      #3
      so who came up with the 10 pounds in petrol needed for 100 miles mileage ?? There seems no reasoned logic in this and does not take account hybrid car fuel usage. The HMRC allowance is on mileage done so hence nothing was wrong in the first place.

      I assume we can buy petrol in bulk and so long as valid vat receipt we are ok ?
      I assume car tax can be viewed as a temp business expense ?

      Colin

      Comment


        #4
        The IR can ask for your recipts anyway. You have been keeping them haven't you? Claiming expenses that you haven't incurred is fraud and the IR don't like that.

        Yes, I know, Giant had a dispensation whereby they didn't have to see the receipts. However, that doesn't mean that you don't need to keep the receipts in case the IR decide to investigate your expenses.
        Listen to my last album on Spotify

        Comment


          #5
          receipts for 10 pounds per 100 miles though are not possible.

          The Business miles claimed have been made on the miles driven there and back from temp workplace. no where in the past was it said we needed so much in receipts to cover so many miles.
          We had already to prove the mileage from post code to post code taking account of route.

          Colin

          Comment


            #6
            Go Ltd. Be a real company. Stop whinging about illegal dispensation deals.

            If you spend it log it. Simple.

            Next.
            What happens in General, stays in General.
            You know what they say about assumptions!

            Comment


              #7
              Originally posted by colin johnston
              receipts for 10 pounds per 100 miles though are not possible.

              The Business miles claimed have been made on the miles driven there and back from temp workplace. no where in the past was it said we needed so much in receipts to cover so many miles.
              We had already to prove the mileage from post code to post code taking account of route.

              Colin
              You need the receipts for everything you have claimed. It's a simple as that. If you have claimed for more than you have spent, you have committed fraud. If you don't have receipts for what you have claimed, the IR will assume you have committed fraud and you won't be able to prove otherwise.

              The "dispensation scam" is something that the more unscrupulous umbrellas/composites have used to attract new suck^H^H^H^Hcustomers for some time.
              Listen to my last album on Spotify

              Comment


                #8
                The sooner people stop using dodgy umbrellas and thinking they are hard done to bceuase they cannot claim £25 for a meal, every day the sooner that HMRC might stop messing around with the law and let genuine businesses get on with it.

                I dont claim anything for lunch to "inflate" my earnings. Personally I earn enought so dont feel it nessecary. Anyone who thinks that its a travesty that Giant want £10 per 100 miles are deluded...

                *oh but I have a hybrid so I ovbiously get 1,000,000 miles to the gallon ... its not fair... *

                Which translates to I only do 4 miles to work now I'm fecked as I am going to have to pay more tax.....

                Comment


                  #9
                  Originally posted by colin johnston
                  receipts for 10 pounds per 100 miles though are not possible.
                  Yes it is. Do you not do any private mileage?

                  Say £10 = 10 liters = 2.2 gallons = 45.5 miles to the gallon.

                  So what you are saying is that you get over 45mpg and dont do any private mileage and dont have a partner that fills up a car and .....

                  Lets say you get a ludicrous 60mpg (prius numbers....yeah right)..

                  100 business miles = 1.66 gallons

                  Leftover - 0.54 gallons = 32 miles.

                  So you dont even go shopping for every 100 miles you druve?

                  Comment


                    #10
                    All other respectable umbrellas started collecting VAT petrol receipts a year ago - it's due to the VAT element of the 40p/mile that you claim from them, and they claim on. Yes I know they take the whole 40p out of your gross, (and then claim back a bit from HMRC) but that's the way it is. For the record - HMRC fought against this additional paperwork on fuel, and lost in the European courts.
                    To my mind it is worrying that Giant have only started doing this 11 months after the likes of Parasol & ContractorUmbrella.
                    As for subsistence - no sympathy here I'm afraid. Dispensations, as written by others, purely stopped HMRC asking your umbrella to produce P11D documents for your expenses. Now it looks like those dispensations are being very heavily restricted.You are now going to have to prove that £15 a day, which brings you back onto a level playing field with the rest of the more respectable companies!! No receipts=no expenses

                    Comment

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