Self Employed Expenses

nwilson92

sheramber wrote: »

all you need to do is work out your business mileage and charge the first 10,000 miles at 45p and the rest at 25p.

so if you had 15,000 business miles you have 10,000 @ 45p and 5,000 @25p

I do 275 work miles a month which equals £123 in expenses at 45ppm.

Over the year this only comes to 3,302 works miles.

So is it simply tot up all works miles (records of travel kept) X .45p and that's my expense to put into my SA?

Thanks.

booksurr

nwilson92 wrote: »

I do 275 work miles a month which equals £123 in expenses at 45ppm.

Over the year this only comes to 3,302 works miles.

So is it simply tot up all works miles (records of travel kept) X .45p and that's my expense to put into my SA?

Thanks.

1. find out how your accountant did it last year

2. if your accountants did NOT use the cost apportionment method then, and only then, can you claim £1485 as your annual expenses

3. if your accountant did use the apportionment method you are back at square one until you get the figures to enable you to do this year's claim

sheramber

booksurr wrote: »

1. find out how your accountant did it last year

2. if your accountants did NOT use the cost apportionment method then, and only then, can you claim £1485 as your annual expenses

3. if your accountant did use the apportionment method you are back at square one until you get the figures to enable you to do this year's claim

see post 9

booksurr

sheramber wrote: »

see post 9

OK, on that basis answering #12 the OP hardly needs a calculator to do 275 x 12 x £0.45 = £1,485 of allowance expenses now does he you smartass??

purdyoaten

booksurr wrote: »

OK, on that basis answering #12 the OP hardly needs a calculator to do 275 x 12 x £0.45 = £1,485 of allowance expenses now does he you smartass??

To be fair, I think that sheramber was merely pointing out that the op had already confirmed the basis previously used by his accountant!

Pennywise

nwilson92 wrote: »

The problem I have is I can't get hold of my accountant hence doing it myself so will not know what system to claim for my car was used last year.

The mileage question is the least of the potential problems with not having the prior year information.

What about accruals and prepayments, any included last year will need to be reversed this year. The simplified cash basis didn't apply for 12/13 so there's almost certainly some accruals and prepayments to reverse. Same with unpaid invoices (sales and purchases), other creditors and other debtors. What about pool written down value brought forward for capital allowances?

Assuming the OP used a qualified accountant, they'd have had a "practice continuity" agreement with another accountancy practice. If they've died or are ill, the other practice takes over and would have access to the files etc. The regulatory body will have the continuity practice on their records, so the OP needs to contact the professional body (usually ICAEW or ACCA - it will almost certainly be shown on the letterhead or business card) and they'll tell him/her who has taken over the practice. Then the historic information can be requested.

aidanmowatt

Caz3121 wrote: »

45p per mile is for the first 10,000 miles then it goes to 25p per mile

Do you know if this is the same for Ltd Companies and Partnerships?

TheCyclingProgrammer

aidanmowatt wrote: »

Do you know if this is the same for Ltd Companies and Partnerships?

It applies to employees and partners of the above, yes. And for employees, AMAPs are exempt from tax so do not need reporting on the P11D either unless they are in excess of published rates.