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New tax year tomorrow - travel expense today?

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    New tax year tomorrow - travel expense today?

    Hi all,

    I'm just thinking, tomorrow is the start of a new tax year where we'll all be worse off (thanks George). In the changes he's taking away the ability to expense travel and sustenance.

    So I was thinking of buying an Annual Travel card today (London) for the year ahead, as an expenseto stay within todays rules. What do you think? Good/bad idea?

    Thanks.

    #2
    Originally posted by theturning View Post
    I'm just thinking, tomorrow is the start of a new tax year
    Think harder. It isn't.
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      #3
      Originally posted by TheFaQQer View Post
      Think harder. It isn't.
      Only an utter moron would make that mistake...

      'CUK forum personality of 2011 - Winner - Yes really!!!!

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        #4
        Originally posted by theturning View Post
        Hi all,

        I'm just thinking, tomorrow is the start of a new tax year where we'll all be worse off (thanks George). In the changes he's taking away the ability to expense travel and sustenance.

        So I was thinking of buying an Annual Travel card today (London) for the year ahead, as an expenseto stay within todays rules. What do you think? Good/bad idea?

        Thanks.
        Excellent idea. Thank you.

        Comment


          #5
          If your business year is set up to start on the 5th (which accounts seem to like) it is.

          May have changed but when I looked you had to apportion purchases of significant consumables & invoices across the tax years they were used.
          Always forgive your enemies; nothing annoys them so much.

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