How does contractor expenses work
Your Dedicated Account Manager will be happy to discuss your personal situation and advise on your specific claimable business expenses. Yes you can if you are using the internet for business purposes and the costs are paid from your own bank account.
If you choose to purchase vouchers from other retailers, please ensure that the receipt is made out to your Umbrella Company. The cost of a work Visa is tax deductible where you are required to have a Visa to perform your contract role in Ireland. Unusual health and Medical expenses also qualify such as speech and language therapy for a child, gluten-free products for those with coeliac disease and IVF treatment.
For serious illnesses, there can be tax relief for certain travel, telephone and accommodation costs so be sure to keep receipts. You can claim for unreimbursed costs on Crowns, veneers, periodontal, orthodontic, bridgework and removal of impacted wisdom teeth.
From moving costs, travel, hotels and even rent. There are lots of expenses you might never have considered claiming when relocating for a contract role.
However this article is a nice summary if you just want the highlights. In this article , Joanne McGrath, who heads up the team who look after our Personal Limited Company clients walks you through the Pros and Cons of buying a car through your own Limited Company. They will be aware of the expenses normally claimed and will be happy to answer all your expenses questions.
Contact your Dedicated Account Manager. Working From Home Working from home has never been more popular or as accepted as it is today. If you are working out of a different workplace than normal or a temporary place of work, you can claim the travel costs to get there and back, as well as the accommodation if you have to stay overnight. Then there are the more surprising things you can claim, such as clothing. If you work from a home office, you can also claim a portion of your electricity bill back for the time you spend there on the job.
To claim, you simply have to add up the relevant expenses and put the complete figure on your tax return. Of course, this means keeping a detailed track of your finances, and keeping hold of receipts and any other relevant documentation so you can double-check your figures when the time comes to total everything up. While neither your accountant nor HMRC will need to see those receipts in order to claim, you still need to keep hold of them.
If you were to get audited, HMRC may want to check every one of your receipts going back as far as six years, and failure to produce these could lead to some hefty penalties. So after all this, what is the benefit to you?
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