Self Employed -Tax Claim for food Subsistence

[Mesterh]

You can get away with absolutely anything.

 

Well until you/them get investigated.

 

If they see someone has been claiming for washing machines, food, standard clothes etc they will ASSUME there is massive fiddling going on and it can cripple and bankrupt people.

 

Obviously being an open forum its not very wise to get into tax evasion.

 

All I can say is claim for everything that you need to run your business if you dont need it to operate then theres a very good chance you cant claim it back.

 

Im sure many a good hard working bloke who has built his business up from nothing has been walloped by the tax man for doing something silly, dont let it be you.

 

Look at it this way, no one wants to pay tax, but a large tax bill means a large profit.

 

Thats the only way I can come to terms with handing my hard earned over to the blood suckers.

[Kev Stephenson]

The easy way is if you wouldn't have bought it (or could have claimed for it on expenses) if you were employed in the same job then it is tax redeamable.

 

e.g. clothing - if you supply embroided t-shirts/hoodies/etc to your groundie then you can have the same. They should be for work only. So for example the comedy 'I've got wood' style t-shirts for wearing to the pub can't be included.

 

Food is only what you would claim on expenses if you worked for another company - do you as company owner supply your groundies food and drink for lunch? If you are working so far from home that it isnt practicable to take a pack up and you therefore are out of pocket because you had to buy food which was more expensive than if you were at home then you can claim it. If you sub to someone for a week that involves a stay in a travel lodge then you can claim all the food while you are away.

 

Washing machine - only if it is solely for cleaning your work gear

 

Feel free to put anything you want through the books just be prepared to prove beyond doubt that it was necessary for work. If not you may have every nook and crany you own checked by the tax man.

[Rupe]

In response to ricky26wales

 

None of that makes any sense. You say your paying tax already but you havn't done a tax return yet? And its just your first year? How come your paying tax already?

 

And you say you have a boss? Are you really self employed??

 

You never get any tax back or any pay out?? I dont underastand what your situation is, unless your boss is making deductionn under some kind of CIS type scheme. DO you work 5 days a week for him? Do you get a pay slip or do you invoice him for work done?

 

PM me if you feel happier to do so.

Edited June 2, 2011 by Rupe

[Billy68]

get yourself an accountant they will save you more money than you think

[Ricky26wales]

I give him an invoice and he also gives us pay slips, one of my earlier posts does say I work under the CIS scheme. Nothing dodgy going on..He deducts our tax to make it easier for us as he knows we are young and dumb and probably wouldn't save enough money to pay our tax at the end of the year. I've only been self employed coming up to 6 months now that's why I have seen no return yet. Clearer now I hope?

[Rupe]

Yes, sounds better. Shame he cant just employ you on the books, save a lot of a hassle. All he need to do is work out a holiday allowance and adjust the pay accordingly so you get paid less but spread over the year so you are still paid when on holidays. But whatever works for you, claim as much as you can!

[farmer_ben]

Our tea and supper at harvest time goes through the books i believe.

[Ricky26wales]

Thanks for all the replies people. All a learning curve for me. Cheers. Got alot of adding up to do! Have to use my fingers and toes to add up all these reciepts.

[Rupe]

A good tip would be to never mix up receipts. i,e, everything on a receipt should be either work related or not.

 

So, when buying fuel done add fags and crips on the same card, try and use spending money for that. That way the bottom line on the receipt is tax deductable, you dont have to seperate out the other items.

 

That way, when you buy new chains and files and add a stihl T shirt you are more likey to get away with putting that through cos all your receipts are one or the other, they wont get in the habit of checking every receipt to see whats on it. Similarly if you go to tescos for food shopping and add some t shirts you probably wouldnt put hat amount through because the main purchase was domestic.

 

They only check if you get investigated of course but its a good habbit to get into.

[mikecotterill]

I did a while under cis. It's pretty much impossible not to get something back, it's like a saving scheme