Its my own business, donut!! No such thing as "expenses" as it comes out of my pocket one way or tother But of course subsistence is tax deductible, but only to the tune of £5 of it - still that saved £ 2-10.Quote:
Originally Posted by ramAnag
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Its my own business, donut!! No such thing as "expenses" as it comes out of my pocket one way or tother But of course subsistence is tax deductible, but only to the tune of £5 of it - still that saved £ 2-10.Quote:
Originally Posted by ramAnag
I entirely agree with the sentiment MA, but I know from my own experience of London full time commuting that you tend to have your beers after work, before you come home, thus get home at 10pm and don't want to drink locally under normal circumstances. In these strange times your advice is sound but the boozers look toxic and the majority of his neighbours do not drink alcohol on religious grounds. Such is the result of diversity taken to an extreme, such that its not diversityQuote:
Originally Posted by MadAmster
It was a joke...but ‘of course subsistence is tax deductible’...why?Quote:
Originally Posted by Geoff Parkstone
Not something I know anything about, but it isn’t for everyone is it?
if you are working away from your normal place of work, then travel and limited subsistence is tax deductible against your business profits, but only "reasonable amounts" -no champagne and caviar. For instance if I were working in London, which is not where my office is, then I can claim tax deduction for getting to the client/place of work and the cost of any meals or overnight accomodation. You cant claim for entertaining though.
This would be so for any self employed person / sole trader. For employees then their employer would reimburse these "away from office"costs and claim tax deductibility in the company tax return.
If you are working in your normal place of work, neither self employed nor employed can claim cost of meals
So it is, in effect, not the same for everyone - you either pay your own and claim restricted tax deduction or your employer reimburses and claims it. Personally I'd sooner have an employer pay all of it, than foot the bill myself and only effectively get 42% back.
So yes, as you infer, the average "bloke with a job" is by and large better treated when working away from his natural place of work.
Although I guess teachers get to eat free school meals, every day, regardless of whether they are working away so they get the best of all worlds! Always assuming the school meals are tolerable? or were you taxed on the meal as a benefit in kind in your past career.
There you go, tax tutorial 1.01
Different country I know but I had to pay for my own lunch when I was teaching.........Quote:
Originally Posted by Geoff Parkstone
quite rightly so, but I presume it was not forced on you and that you could bring a sandwich
POI...teachers are only entitled to ‘eat free school meals’ when they are on ‘dinner duty’ (supervising a very large number of pupils over lunch time) or possibly - depending on the head - if they have run a lunchtime club...but thanks for the ‘tax tutorial’.Quote:
Originally Posted by Geoff Parkstone
Officially I was also allowed to claim a mileage allowance when conducting home visits or attending meetings at Area Office etc...rarely did though.
I'm amazed, my daughter works in London and apart from the occasional coffee and after work drink makes all her won food and takes it to work, I've always done the same unless I could claim on expenses!Quote:
Originally Posted by AdiSalisbury
I think the key word here, Swale, is "work". When you are in your own office, wherever that may be, brown bagging it is fine. When you are freelancing, meeting clients at a high level in their offices / boardroom it doesn't look great to pull out your tupperware box of marmite sandwiches.
Marmite, yuk yuk yuk!!
Give me a hot Bovril anytime!!