Is it actually going to be possible to switch between different IR35 roles given the potential complexity to manage genuine business expenses?
My understanding is that most of the business expenses below can currently be claimed, but if you start an inside IR35 project the expenses you can claim are restricted to effectively be the same as what a permanent employee would normally be allowed to claim. (There is then 5% expense allowance).
My take on this is that it will simply be too complex to manage the business if switching between contracts, which is not what HMRC appear to be saying.
(If anyone can point me to similar threads or information on this, I’d be grateful).
Tax deductible business expenses:
• Business-related travel
• IT equipment
• Accountancy services
• Web-hosting costs
• Marketing
• Training
• Stationary
• Office furniture
• Printing supplies
• Solicitors fees,
• Tax consultant’s fees
• Marketing professional’s fees
• Certain insurance services
• Subscriptions to professional bodies
• Personal development tools, such as business publications
• Allowable Client gifts under £50
• £150 for social events
• Gift aid charitable donations
My understanding is that most of the business expenses below can currently be claimed, but if you start an inside IR35 project the expenses you can claim are restricted to effectively be the same as what a permanent employee would normally be allowed to claim. (There is then 5% expense allowance).
My take on this is that it will simply be too complex to manage the business if switching between contracts, which is not what HMRC appear to be saying.
(If anyone can point me to similar threads or information on this, I’d be grateful).
Tax deductible business expenses:
• Business-related travel
• IT equipment
• Accountancy services
• Web-hosting costs
• Marketing
• Training
• Stationary
• Office furniture
• Printing supplies
• Solicitors fees,
• Tax consultant’s fees
• Marketing professional’s fees
• Certain insurance services
• Subscriptions to professional bodies
• Personal development tools, such as business publications
• Allowable Client gifts under £50
• £150 for social events
• Gift aid charitable donations
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