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Author Topic: Question for those self employed folks ?  (Read 2419 times)

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Lampynoiseboy

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Re: Question for those self employed folks ?
« Reply #15 on: 01 March 2012, 23:55:43 »

I once had a car on the driveway, insured as a second car but with no tax or MOT, and no engine. That was my personal car.
The car that worked was for work use "only"  ;)

Not sure it's do-able now with SORN etc.

I have a "friend" who lives with gf, is on her insurance so again, uses his own car for work only  :y
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Ken T

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Re: Question for those self employed folks ?
« Reply #16 on: 02 March 2012, 00:25:18 »

Ltd companies are good. You apply for a dispensation re expenses, so you don't have to show them on any personal tax stuff, I charge 45p/mile for all business trips, plus of course subsistence allowance of say £6 breakfast, £10 for lunch and £15 for evening meal while away from the Ltd office, eg out on site. And overnight you are allowed £5 for incidental expenses, in addition to claiming for any accomodation required. All totally legit  :y

Ken
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zirk

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Re: Question for those self employed folks ?
« Reply #17 on: 02 March 2012, 11:01:24 »

If your going T/A, your can introduce the Car into the Business, that way claim Maintenance, Road Tax, Insurance from your profits (make sure your Insurance covers you for Business Use), and if need be deduct a small percentage of that for personal use, the tricky bit is Fuel, in theory if your traveling to different locations each day, that could be considered as travelling to and from work, which in theory is not deductible, a real bummer if your doing a 100 mile round trip to do a job, a way round that would be to rent a desk or lock up somewhere local to you, then your traveling to and from your place of work before venturing off to do your jobs.

The other way, as already said, is not claim anything but to charge yourself X pence per mile for traveling, not sure how that works with the to and from work bit though.

Also as said, Ltd, go T/A for the first 12 / 18 months and see how it goes, if starting to really take off, might be an idea to go down the Limited Company route in case it goes wrong, etc.

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Jay42

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Re: Question for those self employed folks ?
« Reply #18 on: 02 March 2012, 11:24:06 »

If anyone has access to companies house check it out.
HMRC in 2006 ceased trading and declared themselves bankrupt with 6 million in the bank mmmmmmm suspicious or what.
Re- named HMRC LTD from HMRC PLC.
I'd like to know how anyone can declare themselves bankrupt with 6 million in the bank.
And that 6 million pounds of our tax money still sits there today under the title HMRC PLC.
One rule for us and one for them goto you tube and check out John Harris its an illuision or even Brian Gerrish they tell the true story of whats going on behind those closed doors.
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