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Taxable Income
chris2223333
Posts: 27 Forumite
I have just started a new job that pays expenses and also milage. This is paid by cheque and not in my payslip. Is this classes as income for means tested benefit?
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Comments
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Depends what the expenses are for/ rate of mileage etc0
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Hi
I work for a charity working with children. Rate is 25p per mile and the other expenses are buying them their lunch or taking them to leisure activities. It comes out of my own pocket then paid back at the end of the week.0 -
chris2223333 wrote: »Hi
I work for a charity working with children. Rate is 25p per mile and the other expenses are buying them their lunch or taking them to leisure activities. It comes out of my own pocket then paid back at the end of the week.
And do you show receipts etc for that?
If you can show they are legit business expenses then they aren't taxable so won't affect tax credits.
If you are just being paid a round sum without proof, it's taxable and is included.
If your asking about any other benefits you'll need to be specific about what ones.0 -
chris2223333 wrote: »Hi
I work for a charity working with children. Rate is 25p per mile and the other expenses are buying them their lunch or taking them to leisure activities. It comes out of my own pocket then paid back at the end of the week.
In terms of milage then the 25p is allowable (not included as income) In fact for the first 10000 miles per year you can take 20p per mile off your income as the allowable mileage rate is 45p per mile. If you pay tax you can also claim tax relief on the underpayment - it would be 4p per mile @ 20% tax. This is assuming it's a private vehicle.0 -
chris2223333 wrote: »I have just started a new job that pays expenses and also milage. This is paid by cheque and not in my payslip. Is this classes as income for means tested benefit?
No it's not income. You didn't earn it. You paid for something and it's just being reimbursed.:footie:
Regular savers earn 6% interest (HSBC, First Direct, M&S)
Loans cost 2.9% per year (Nationwide) = FREE money.
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